Navarre Corp. Announces Unaudited Consolidated Financial Results for the Fourth Quarter and Year Ended March 31, 2012; Provides Earnings Guidance for the Year of 2013
May 22, 2012 at 04:00 pm EDT
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Navarre Corp. announced unaudited consolidated financial results for the fourth quarter and year ended March 31, 2012. For the quarter, the company reported net sales $116.743 million against $124.304 million a year ago. Loss from operations was $5.966 million against $0.433 million a year ago. Loss from continuing operations before income tax was $6.017 million against $0.444 million a year ago. Net loss from continuing operations was $3.347 million or $0.09 per diluted share against net income from continuing operations of $9.766 million or $0.26 per diluted share a year ago. Net loss was $3.347 million or $0.09 per diluted share against net income of $4.032 million or $0.10 per diluted share a year ago. Adjusted pro forma EBITDA was $1.639 million against $0.860 million a year ago.
For the year, the company reported net sales $480.724 million against $490.897 million a year ago. Loss from operations was $22.303 million against profit from operations of $5.954 million a year ago. Loss from continuing operations before income tax was $23.728 million against income from continuing operations before income tax of $4.047 million a year ago. Net loss from continuing operations was $34.300 million or $0.93 per diluted share against net income from continuing operations of $12.493 million or $0.34 per diluted share a year ago. Net loss was $34.300 million or $0.93 per diluted share against net income of $11.183 million or $0.30 per diluted share a year ago. Net cash used in operating activities was $5.453 million against net cash provided by operating activities of $8.694 million a year ago. Adjusted pro forma EBITDA was $7.694 million against $10.874 million a year ago.
In light of the progress made through the company's now completed restructuring program and its decision to deemphasize the distribution of exclusive home video content (which contributed $22.6 million in net sales during fiscal year 2012), guidance for fiscal year 2013 is as net sales are anticipated to be between $460.0 million and $480.0 million; and adjusted pro forma EBITDA is expected to be between $9.0 and $11.0 million.
Speed Commerce, Inc. is a single-source provider of omnichannel customer experience solutions and technology for ecommerce retailers and manufacturers. The Company specializes in ecommerce order fulfillment and contact center operations, assisting ecommerce retailers. Its cloud-based fulfillment platform for order and inventory management features integration with ecommerce platforms, and automatic order importing from online marketplaces, including Amazon, Magento, and Shopify. The Company offers a range of solutions, such as e-commerce customer service, fulfillment and warehousing, and client services. Its e-commerce customer services include inbound and outbound telephone support services, order processing, upselling, and cross-selling, email inquiries, outbound marketing campaigns, database scrubbing, and market research. Its fulfillment and warehousing solutions include receiving, picking and packing, shipping, inventory management, returns management, and cross-docking.
Navarre Corp. Announces Unaudited Consolidated Financial Results for the Fourth Quarter and Year Ended March 31, 2012; Provides Earnings Guidance for the Year of 2013
SPEED COMMERCE, INC. 
