BroadSoft Q3 Profit Rises; Cuts FY13 Outlook

(RTTNews) - BroadSoft Inc. (BSFT) reported a decline in third-quarter net income to $4.1 million or $0.14 per share, compared to $3.1 million or $0.11 per share in the same quarter last year.

However, on an adjusted basis, net income was $8.4 million, or $0.29 per share, compared to $10.0 million or $0.36 per share in the prior year. On average, 13 analysts polled by Thomson Reuters expected the company to earn $0.30 per share for the quarter. Analysts' estimates typically exclude special items.

Meanwhile, total revenue for the quarter grew 7 percent to $42.90 million from $40.17 million last year, while 13 analysts currently estimate revenues of $45.16 million for the quarter.

Looking forward to the fourth quarter, BroadSoft anticipates adjusted earnings of $0.34 to $0.49 per share on revenues between $47 million and $53 million. Analysts estimated earnings of $0.51 per share on revenues of $54.85 million.

For the full year 2013, the company expects adjusted earnings of $1.13 to $1.28 per share, on revenues in a range between $173.5 million and $179.5 million. Analysts currently estimate earnings of $1.31 per share on revenues of $183.60 million for 2013.

Earlier, the company had expected adjusted earnings of $1.15 to $1.40 per share, on revenues in a range between $181 million and $186 million.