QuinStreet, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2017; Revises Earnings Guidance for the Full Fiscal Year 2018
January 31, 2018 at 04:26 pm
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QuinStreet, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2017. For the quarter, net revenue was $87,494,000 against $65,610,000 a year ago. Operating income was $1,672,000 against loss of $7,726,000 a year ago. Income before taxes was $1,951,000 against loss of $7,850,000 a year ago. Net income was $1,947,000 against loss of $7,850,000 a year ago. Net income per share basic and diluted was $0.04 against loss of $0.17 a year ago. Net cash provided by operating activities was $7,295,000 against $883,000 a year ago. Capital expenditures were $75,000 against $203,000 a year ago. Internal software development costs were $518,000 against $487,000 a year ago. Adjusted net income was $3,681,000 against loss of $1,656,000 a year ago. Adjusted diluted net income per share was $0.07 against loss of $0.04 a year ago. Adjusted EBITDA was $6,569,000 against loss of $273,000 a year ago.
For six months, net revenue was $174,912,000 against $139,048,000 a year ago. Operating income was $3,029,000 against loss of $12,671,000 a year ago. Income before taxes was $3,388,000 against loss of $12,795,000 a year ago. Net income was $3,392,000 against loss of $11,419,000 a year ago. Net income per share basic and diluted was $0.07 against loss of $0.25 a year ago. Net cash provided by operating activities was $9,619,000 against $2,090,000 a year ago. Capital expenditures were $199,000 against $604,000 a year ago. Internal software development costs were $1,061,000 against $1,182,000 a year ago. Adjusted net income was $7,229,000 against loss of $670,000 a year ago. Adjusted diluted net income per share was $0.15 against loss of $0.01 a year ago. Adjusted EBITDA was $13,152,000 against $762,000 a year ago.
The company is raising revenue growth outlook for the full fiscal year to approximately 20%, with adjusted EBITDA margin of about 8%.
QuinStreet, Inc. is engaged in providing performance marketplaces and technologies for the financial services and home services industries. The Company allows clients to engage intent digital media or traffic from a range of device types, in multiple formats or types of media, and in a range of cost-per-action (CPA) forms. Its primary products include qualified clicks, leads, calls, applications and customers. The Company specializes in customer acquisition for clients in high value, information-intensive markets, or verticals. Its media sources include owned-and-operated organic or search engine optimization websites, targeted search engine marketing (SEM) or pay-per-click (PPC) campaigns, social media and mobile programs, internal email databases, call center operations, partnerships with large and small online media companies, and more. It owns or accesses targeted media through business arrangements; runs advertisements or other forms of marketing messages and programs, and others.
QuinStreet, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2017; Revises Earnings Guidance for the Full Fiscal Year 2018