Monotype Imaging Q1 Profit Meets View; Backs FY14 Forecast

(RTTNews) - Monotype Imaging Holdings Inc. (TYPE), a provider of text imaging solutions, reported Thursday that its first-quarter net income available to stockholders was $8.32 million or $0.21 per share, compared to $8.48 million or $0.22 per share a year ago.

Adjusted net income was $11.5 million, compared to $11.6 million in 2013. Adjusted earnings per share were $0.29, compared to $0.30 last year. On average, six analysts polled by Thomson Reuters expected the company to report earnings of $0.29 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter was $46.07 million, a 10 percent increase from last year's $42.04 million. Analysts estimated revenues of $45.38 million for the quarter.

Creative Professional revenue was $17.7 million, 16 percent higher than last year.

Looking ahead for the second quarter, Monotype expects earnings per share in the range of $0.16 to $0.19 and adjusted earnings per share in the range of $0.25 to $0.28 on revenue in the range of $44.0 million to $45.5 million. Analysts expect earnings of $0.28 per share on revenues of $45.08 million.

Monotype reiterated its full year 2014 guidance, and continues to expect revenue in the range of $180.0 million to $185.0 million, earnings per share in the range of $0.77 to $0.83 and adjusted earnings per share in the range of $1.12 to $1.18. Analysts expect earnings of $1.15 per share on revenues of $183.12 million.