Solera Closes Acquisition Of Identifix; Provides Preliminary Outlook For FY16

(RTTNews) - Solera Holdings Inc. (SLH) announced the closing of its acquisition of 100% of Identifix, data-driven software-as-a-service company within the $8 billion vehicle service, maintenance and repair total addressable market.

Looking ahead for full fiscal year ending June 30, 2016, the company expects cash earnings per share to be in the range of $2.84 - $3.08, total year-over-year revenue growth of 11% - 13%, Organic year-over-year revenue growth of 6% - 8%. Analysts polled by Thomson Reuters expect the company to report earnings of $3.27 per share for fiscal year 2016. Analysts' estimates typically exclude special items.

Underlying the 2016 Outlook is expectation that both constant exchange rate organic year-over-year revenue growth and Adjusted EBITDA margins will be stronger in the second half of fiscal year 2016 than in the first half of fiscal year 2016.

It also expect fiscal year 2016 Adjusted net income to generally decline on a year-over-year basis, mainly due to higher interest expense following the completion of its recent $850.0 million senior note offering, which is partially offset by the elimination of the Service Repair Solutions joint venture minority interest and expected lower effective tax rate of approximately 24%.