Dealertrack Results Tops Estimate

(RTTNews) - Dealertrack Technologies Inc (TRAK) Wednesday reported third-quarter net earnings of $2.1 million or $0.04 per share compared with $5.8 million or $0.13 per share last year.

Excluding items, adjusted earnings for the quarter were $0.46 per share compared with $0.39 per share a year ago.

Dealertrack provides Web-based software solutions and services to the automotive retail industry.

The company's revenues for the quarter were $233.5 million compared with $124.6 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.45 per share on revenues of $227.3 million for the quarter. Analysts' estimates typically exclude special items.

For the full year 2014, the company now expects adjusted earnings of $1.50 to $1.54 per share, an increase at the mid-point of the range from prior guidance of $1.47 to $1.56 per share.

It projects full-year revenues of $842 million to $848 million, an increase at the mid-point of the range from prior guidance of $829 million to $843 million.

Analysts expect earnings of $1.54 per share on revenues of $839.8 million for the year.