Lionbridge Technologies – Solid top line growth

Lionbridge Technologies, Inc. (Nasdaq: LIOX) today announced financial results for the fourth quarter and year ended December 31, 2011.

Financial highlights for the fourth quarter include:

• Revenue of $107.4 million, an increase of $7.0 million or 7% year-on-year compared to the fourth quarter of 2010.
• GAAP net income for the quarter of $3.0 million or $0.05 per share based on 59.4 million fully diluted shares outstanding.  This compares to a GAAP net loss of $2.6 million or ($0.04) per share in the fourth quarter of 2010.
• Non-GAAP adjusted earnings of $5.0 million or $0.08 per share. The Company defines non-GAAP earnings as GAAP net income excluding merger, restructuring and related costs, stock-based compensation and amortization of acquisition-related intangible assets.  Please see the section of this release entitled “Non-GAAP Financial Measures” and the attached table for details and reconciliations of this measure to the comparable GAAP measure.
• Cash flow from operations of $8.3 million during the quarter.
• The Company ended the quarter in a net cash positive position with an ending cash balance of $25.2 million and long-term debt of $24.7 million as of December 31, 2011.

“The fourth quarter marked yet another strong quarter of solid top line growth, ongoing earnings acceleration and strong cash flow.  We are starting to benefit from our recent investments in sales and marketing, new leadership, new offerings and a refined vertical-market focused sales and delivery model,” said Rory Cowan, CEO of Lionbridge.  ”Our multi-year cost reduction program is largely behind us.  We have a strong new business pipeline.  The current currency environment is favorable for operating earnings.  As a result, we have positive momentum for 2012 and beyond.”

About Lionbridge – Lionbridge Technologies, Inc. is a provider of translation, development and testing solutions. Lionbridge combines global resources with proven program management methodologies to serve as an outsource partner throughout a client’s product and content lifecycle – from development to translation, testing and maintenance. Global organizations rely on Lionbridge services to increase international market share, speed adoption of global products and content, and enhance their return on enterprise applications and IT system investments. Based in Waltham, Mass., Lionbridge maintains solution centers in 26 countries and provides services under the Lionbridge and VeriTest brands.

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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.