Sapient Reports Preliminary Q4 GAAP EPS Of $0.15 - Quick Facts

(RTTNews) - Sapient (SAPE) announced preliminary unaudited financial results for the fourth quarter ended December 31, 2013. The company noted that the results are preliminary while it works to complete a self-initiated assessment of newly-discovered employment-related tax liabilities associated with the movement of employees globally. Sapient expects its fourth-quarter GAAP net income per share to be $0.15, inclusive of the impact from the additional tax liabilities. Non-GAAP net income per share is expected to be $0.21, inclusive of the impact of the additional tax liabilities.

Analysts polled by Thomson Reuters expect the company to report fourth-quarter profit per share of $0.18. Analysts' estimates typically exclude special items.

The company expects its fourth-quarter service revenues to be $328.7 million, an increase of 12% over the fourth quarter of 2012. On a constant currency basis, revenues increased 13% over the fourth quarter of 2012. Analysts expect revenue of $324.46 million for the quarter.

For the year ended December 31, 2013: the company expects service revenues to be $1.259 billion, up 12% from 2012. On a constant currency basis, revenues increased 13% over 2012. GAAP net income per share is expected to be $0.54, inclusive of the impact from the additional tax liabilities. Non-GAAP net income per share is expected to be $0.76, inclusive of the impact of the additional tax liabilities. Analysts expect the company to report full year 2013 profit per share of $0.58 on revenue of $1.26 billion.

For the year ending December 31, 2014, the company expects its non-GAAP operating income to be in the range of $186 million to $203 million, which represents approximately 11% to 21% growth, including approximately $4 million of expenses as the company redesigns its global people mobility operations to be more cost effective. Service revenues are expected to grow 11% to 15%.

For the first quarter ending March 31, 2014, the company expects its non-GAAP operating income to be in the range of $30.2 million to $34.5 million, including approximately $1.7 million of expenses as the company redesigns its global people mobility operations. Service revenues are expected to be in the range of $328 million to $338 million. Analysts expect the company to report first-quarter revenue of $323.22 million.