Open Table Provides Weak Revenue Guidance on Q2 and FY 2013 (OPEN)
Restaurant reservation service provider, Open Table Inc. (NASDAQ: OPEN) reported fiscal first quarter results on Thursday.
For the fiscal first quarter, the San Francisco-based Company reported net income of $7.1 million or 30 cents a share compared to a profit of $4.8 million or 21 cents a share, in the year-earlier quarter.
Excluding onetime items, non-GAAP or adjusted earnings stood at $10.7 million or 45 cents a share compared to $9.2 million or 40 cents a share, in the same quarter of last year.
Net revenue for the period climbed to $45.50 million from $38.37 million, in the same quarter of last fiscal.
Analysts’ consensus estimate was for earnings of 43 cents a share on revenue of $45.48 million.
For the current quarter, Open Table expects non-adjusted earnings to come in the range of 30 cents a share to 33 cents a share while adjusted or non-GAAP earnings are expected between 43 cents a share and 49 cents a share. Revenue is expected between $44.9 million and $46.2 million. Analysts’ consensus forecast was for earnings of 47 cents a share on revenue of $46.70 million.
Looking ahead at fiscal 2013, the restaurant reservation website provider expects non-adjusted earnings to come in the range of $1.33 a share to $1.47 a share while adjusted or non-GAAP earnings is anticipated between $1.88 a share and $2.02 a share. Revenue is expected between $185.3 million and $190.9 million. Analysts’ latest consensus estimate is for $1.91 a share on revenue of $189.55 million.
Shares climbed 3.67% in regular trading hours on Thursday to $57.66 however slumped 1.66% in extended trading hours.
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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.
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