Intersections Q4 Profit Drops

(RTTNews) - Intersections Inc. (INTX) on Monday said its consolidated net income for the fourth quarter declined to $119 thousand or less than $0.01 per share from $1.6 million or $0.08 per share a year ago.

Total consolidated revenue for the quarter dropped to $72.1 million from $84.0 million in the corresponding quarter last year.

Total subscribers decreased to approximately 2.9 million compared to 4.5 million as of December 31, 2012, with 63 thousand remaining in a non-billable status as of December 31, 2013.

For the full year, net income was $2.4 million or $0.13 per share, compared to $19.7 million or 1.04 per share last year.

The company had a cash balance of $20.9 million and no borrowings under our revolving credit facility, as of December 31, 2013.

Revenue for the year dropped to $310.3 million from $347.4 million for the year ended December 31, 2012.

Looking ahead to full year 2014, the company anticipates revenue in the range of $260 to $275 million on a consolidated basis, while revenue for full year 2015 is projected to exceed $300 million.

Intersections stock ended at $6.55, up $0.09 or 1.39%, in regular trade on Monday. However, in after-hours, the stock dropped $0.35 or 5.34%, to trade at $6.20.