On Deck Capital tops Street 4Q forecasts

Associated Press |

NEW YORK (AP) _ On Deck Capital Inc. (ONDK) on Tuesday reported fourth-quarter net income of $5.1 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the New York-based company said it had net income of 7 cents. Earnings, adjusted for stock option expense, came to 10 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.

The small business lender posted revenue of $87.7 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $87.1 million.

For the year, the company reported that its loss narrowed to $11.5 million, or 16 cents per share. Revenue was reported as $351 million.

For the current quarter ending in April, On Deck Capital said it expects revenue in the range of $86 million to $90 million.

The company expects full-year revenue in the range of $370 million to $382 million.

The company's shares closed at $4.48. A year ago, they were trading at $5.68.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ONDK at https://www.zacks.com/ap/ONDK

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