Lionbridge Q3 Earnings Beat View; To Buy CLS Communication - Quick Facts

(RTTNews) - Lionbridge Technologies, Inc. (LIOX) Monday reported a decrease in its third-quarter earnings to $3.6 million or $0.06 per share from $5.0 million or $0.08 per share last year. Excluding merger, restructuring and acquisition-related charges, asset impairment costs, stock-based compensation, and amortization of acquisition-related intangible assets, the firm earned $7.1 million or $0.11 per share. Revenues were down 4 percent to $120.2 million from $124.6 million a year ago.

On average, four analysts polled by Thomson Reuters expected the company to earn $0.05 per share on revenues of $125.04 million for the quarter. Analysts' estimates typically exclude special items. Looking ahead, for the fourth quarter, the group expects revenue in the range of $120 million - $123 million, while analysts expect it to be $125.85 million. Separately, the company announced that it expects to acquire CLS Communication for nearly 74 million Swiss Francs, or about $77 million in cash.

Depending on tax and timing of synergies, the acquisition is expected to add nearly $0.07 to $0.12 per share to the group's adjusted earnings in 2015 and about $0.17 to $0.22 per share in 2016. The transaction, which is expected to close in early 2015 is being funded by available cash and a new credit facility through its banking partner HSBC.