Monotype Imaging Q2 Profit Edges Up; Trims 2014 Profit Outlook

(RTTNews) - Monotype Imaging Holdings Inc. (TYPE), a provider of text imaging solutions, reported Monday that second-quarter net income available to stockholders was $7.53 million or $0.19 per share, higher than $7.19 million or $0.18 per share a year ago.

Excluding items, adjusted net income for the quarter was $10.88 million or $0.04 per share, compared to $10.15 million or $0.04 per share in the prior-year quarter.

On average, three analysts polled by Thomson Reuters expected the company to report earnings of $0.27 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter grew 9 percent to $44.96 million from $41.09 million in the same quarter last year. Analysts estimated revenues of $44.94 million for the quarter.

Creative Professional revenue increased 25 percent to $18.3 million, and OEM revenue edged up 1 percent to $26.7 million from last year.

Looking ahead to the third quarter, Monotype expects adjusted earnings in a range of $0.26 to $0.28 per share, on projected revenues between $46.0 million and $48.0 million. Analysts expect earnings of $0.29 per share on revenues of $45.04 million for the quarter.

For fiscal 2014, Monotype trimmed its adjusted earnings forecast to the range of $1.10 to $1.16 per share from the prior guidance range of $1.12 to $1.18 per share. However, the company now projects revenues between $184.0 million and $189.0 million, up from the previous guidance between $180.0 million and $185.0 million.

Street is currently looking for full-year earnings of $1.16 per share on revenues of $183.64 million.