Bankrate Inc. (NASDAQ: RATE) has just posted earnings of $0.33 non-GAAP EPS on revenues of $25.3 million. First Call has estimates at $0.39 EPS on revenues of $26.83 million.
The company also gave some raised guidance of $167 to $172 million for fiscal 2008 revenues, and fiscal 2008 and EBITDA of between $64 and $68 million. First Call has a revenue target for 2008 of $142.75 million, although this guidance likely includes two new additions. Bankrate has also announced that it has acquired and completed the acquired the assets of two companies in separate
transactions:
- InsureMe, Inc. for $65 million
- Lower Fees, Inc., operates feedisclosure, for some $2.85 million.
Thomas R. Evans, President & CEO: "It was an unusual quarter in that we had two record months followed by a soft December, when several display advertisers cancelled booked business in that month as a result of anxiety in the mortgage and financial sectors."
It appears that this guidance may be including the gains from the extra acquisitions it simultaneously announced. Shares closed down 5.5% at $53.68 in normal trading today, yet shares are down 8% in after-hours to $49.43. The 52-week trading range is $32.70 to $57.32, and that high was just two days ago.
Jon C. Ogg
February 5, 2008
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