Solera Holdings Lifts FY14 Adj. Profit, Revenues Outlook - Quick Facts

(RTTNews) - Solera Holdings Inc. (SLH), a provider of software and services to the automobile insurance claims processing and decision support industries, announced that it updated its fiscal year 2014 guidance to reflect the completion in November 2013 of the Service Repair Solutions Inc. joint venture, $850 million bond offering and redemption of the senior notes due in 2018 in the principal amount of $850 million.

Looking ahead to the fiscal year 2014, the company has raised its adjusted earnings outlook to a range of $2.61 - $2.69 per share from the prior estimate of $2.41 to $2.48 per share.

The company also raised its annual adjusted net income guidance to a range of $182 million - $187 million, from the previous outlook of $167 million - $173 million.

Annual revenues guidance has been increased to a range of $978 million - $986 million from the prior estimate of $898 million - $906 million.

Annual EBITDA is now anticipated to be between $390 million - $397 million, compared to prior estimate of $366 million - $373 million.

However, the company has lowered its annual net income attributable to the company guidance to a range $45 million - $52 million from $50 million - $57 million, issued previously.

The company said that net income attributable to the company does not reflect the redemption premium on the 2018 Notes of approximately $58.5 million and the write-off of the unamortized debt issuance costs related to the 2018 Notes, net of the unamortized premium, of approximately $1.5 million, both of which have been charged against earnings following the redemption of the 2018 Notes on November 18, 2013. After considering these one-time charges, projected Net Income attributable to the company Inc. for fiscal year 2014 will be a net loss of between $15 million and $8 million.

Analysts polled by Thomson Reuters expected the company to report earnings of $2.60 per share and revenues of $962.09 million for fiscal 2014. Analysts' estimates typically exclude special items.