Digital River Swings To Q3 Profit

(RTTNews) - Digital River, Inc. (DRIV) reported net income for the third quarter of $4.2 million or $0.14 per share, compare to a net loss of $12.5 million or $0.40 per share for the year-ago quarter.

Third quarter income from continuing operations was $4.0 million or $0.13 per share, compared to a loss from continuing operations of $7.6 million or $0.24 per share in the prior year quarter.

On an adjusted basis, results from continuing operations and earnings per share were break-even for the third quarter of 2014.

Third quarter revenue rose 2% to $88.8 million from $87.3 million a year ago.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.04 per share on revenue of $88.71 million for the third quarter. Analysts' estimates typically exclude special items.

For the fourth quarter, the company forecasts revenue of $101 to $104 million, earnings of $0.11 to $0.16 per share and adjusted earnings of $0.31 to $0.35 per share. Analysts currently expect the company to earn $0.30 per share on revenue of $104.79 million for the fourth quarter.

For the full year 2014, the company now forecasts revenue of $375 to $378 million, a net loss of $0.19 to $0.14 per share and adjusted earnings of $0.49 to $0.54 per share. Previously, the company forecast revenue of $375 to $382 million, a net loss of $0.63 to $0.51 per share and adjusted earnings of $0.41 to $0.51 per share.

Analysts currently expect the company to earn $0.45 per share on revenue of $378.69 million for the full year 2014.