AudioEye Buys ADA Site Compliance, Lifts Annual Guidance; Pre-Market Stock Up

(RTTNews) - AudioEye, Inc. (AEYE), a digital accessibility provider, revealed on Monday that it has acquired ADA Site Compliance, an ADA website accessibility compliance solution.

The acquirer noted that the acquisition of ADA Site Compliance is expected to be accretive in the fourth quarter.

David Moradi, CEO of AudioEye, said: "ADA Site Compliance has an impressive client list and a talented team with which we see synergy. Scott has built a strong business where we believe we can leverage our products to expand customer relationships further."

Citing strong organic results in the quarter, the company has revised its third-quarter and annual guidance.

For the third-quarter, the company still expects adjusted income per share of $0.15 to $0.16.

AudioEye now projects revenue of $8.9 million to $8.95 million, compared with prior guidance of $8.85 million to $8.95 million.

On average, four-analysts, polled by Thomson Reuters expect the firm to post adjusted income per share of $0.00, on revenue of $8.9 million, for the quarter. Analysts' estimates typically exclude special items.

AudioEye has revised up its annual adjusted income per share outlook to a range of $0.51 to $0.53 from the previous expectation range of $0.48 to $0.51 per share.

Annual revenue is now anticipated to be $35.15 million to $35.25 million against earlier outlook of $34.5 million to $34.8 million.

For the full year, on average, four analysts, expect the firm to post loss of $0.13 per share, on revenue of $34.67 million, for the year.

AEYE was trading up by 3.13 percent at $24.40 in the pre-market trade on the Nasdaq.