In Wednesday trading, shares of Wix.com Ltd. (WIX, Financial) advanced nearly 10% on the back of the company reporting its financial results for the fourth quarter. The company posted adjusted earnings of 16 cents per share, in line with estimates. Quarterly revenue of $118.55 million increased 40.8% year over year and beat expectations by $1.65 million.
"Continued improvements to our product offering and successful execution of marketing campaigns drove robust financial results this quarter, closing out a strong year,"Â Avishai Abrahami, the company's co-founder and CEO, said.
Omega Healthcare Investors Inc. (OHI, Financial) lost 5% on the back of the company posting its financial results for the fourth quarter.
The company reported annual net sales declined 0.2% to $194.58 million and fell short of analysts' expectations by $28.24 million. Its earnings per share of 77 cents, however, were in line with estimates.Â
For the quarter, the company reported net income of $65.2 million, or 31 cents per share, on operating revenues of $221.2 million. This compares to net income of $129.9 million, or 63 cents per share, on operating revenues of $234.5 million in the prior-year quarter.Â
Moreover, the board of directors declared a dividend of 66 cents per share, a one-cent increase from the previous quarter.
“As a result of our strategic repositioning activities, 2018 will not be a growth year, and therefore, we do not expect to increase the dividend during 2018," CEO Taylor Pickett said. "However, I want to be very clear that we are confident in the payout percentage coverage and sustainability of our current quarterly dividend.”
Looking ahead to the first quarter, the company expects revenue between $135 million and $136 million and collections to range from $157 million to $158 million.
Disclosure: The author holds no positions in any stocks mentioned.
