EmailServiceSource Intl (SREV $14.95 +1.60) sees third quarter revenues of
'greater than $49 million'; forecast was $45 million to $46 million versus the
Capital IQ consensus of $46.1 million. The Company also expects to report third
quarter net income and non-GAAP earnings per share above its prior guidance
range.
These preliminary results exceed the Company's previous guidance for the third
quarter of revenue of $45 to $46 million, adjusted EBITDA of $0.5 to $1.0
million, net loss of $4.5 to $5.0 million, and non-GAAP earnings per diluted
share of approximately breakeven to a loss of one cent per share (Capital IQ
consensus -$0.01) as provided on July 25, 2011. The Company ended the quarter
with over $100 million of cash and short-term securities.
The Company also raised its full year 2011 revenue guidance, expecting revenue
greater than $195 million, reflecting at least 28% year-over-year growth and
which compares to previous guidance of $190 to $192 million for the year,
Capital IQ consensus $191.9 million. The Company said that it expects to raise
guidance for adjusted EBITDA, net income and non-GAAP earnings per share when it
announces final results for the quarter.
than one year.
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