Speed Commerce, Inc. Announces Financial Results for Third Quarter and Nine Months Ended December 31, 2014; Revises Earnings Guidance for the Fiscal Year 2015 and Provides Earnings Guidance for the Fiscal Year 2016
February 09, 2015 at 10:00 am EST
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Speed Commerce, Inc. announced financial results for third quarter and nine months ended December 31, 2014. For the quarter, the company reported overall, sales are 17% over the last year. Adjusted EBITDA in the fiscal third quarter was $3 million compared to $4.4 million in the year-ago quarter. Net loss from continuing operations was $7.1 million or a loss of $0.13 per diluted share compared to net loss from continuing operations of $3 million, or a loss of $0.05 per diluted share in the year-ago quarter. For the quarter, the company reported total net revenues of $38,257,000 against $32,576,000 a year ago. Loss from operations were $2,537,000 against $2,503,000 a year ago. Loss from operations, before income tax was $6,964,000 against $2,937,000 a year ago. Net loss was $9,402,000 or $0.16 per basic and diluted share against $1,064,000 $0.02 per basic and diluted share a year ago. Adjusted pro forma income from operations was $250,000 against $2,724,000 a year ago. Adjusted pro forma loss from continuing operations before income tax was $1,130,000 against adjusted pro forma income from continuing operations before income tax of $2,290,000 a year ago.
For the nine months, the company reported total net revenues were $83,384,000 against $83,154,000 a year ago. Loss from operations were $7,236,000 against $4,176,000 a year ago. Loss from operations, before income tax was $12,097,000 against $5,398,000 a year ago. Net loss from continuing operations were $12,440,000 or $0.25 per basic and diluted share against $5,451,000 or $0.09 per basic and diluted share a year ago. Net loss was $21,704,000 or $0.39 per basic and diluted share against $7,637,000 or $0.13 per basic and diluted share a year ago. Adjusted pro forma loss from operations was $2,495,000 against $2,985,000 a year ago. Adjusted pro forma loss from continuing operations before income tax was $3,493,000 against adjusted pro forma income from continuing operations before income tax of $1,763,000 a year ago. Adjusted EBITDA was $7,160,000 against $7,647,000 a year ago.
The company revises earnings guidance for fiscal 2015, and now expects net revenues to range between $120 million to $125 million, expects adjusted EBITDA, in the fiscal 2015, to range between $10 million and $12 million.
The preliminary expectations for fiscal 2016, the company expects revenues to range between $160 million to $175 million, and adjusted EBITDA, in the range of $15 million to $17 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.
Speed Commerce, Inc. Announces Financial Results for Third Quarter and Nine Months Ended December 31, 2014; Revises Earnings Guidance for the Fiscal Year 2015 and Provides Earnings Guidance for the Fiscal Year 2016