comScore’s Own Guidance Measured Short By Traders (SCOR)

It appears that Internet audience measurement service comScore Inc. (NASDAQ: SCOR) is being treated roughly on its guidance after earnings this evening.

The company just posted revenues of $25.3 million, compared to its $25.0 to $25.3 million prior range and compared to First Call estimates of $25.18 million.  Its GAAP EPS was $0.42 at $12.7 million, but this included an income tax benefit of $8.1 million and included a $392,000 charge from its IPO.  Its non-GAAP earnings were were $0.21 based upon $6.4 million.  It had previously guided $6.2 to $6.5 million in non-GAAP earnings and First Call had estimates at $0.19 non-GAAP EPS.

comScore also noted that deferred revenue was $33.0 million and it added 58 new customers to total 895 customers.

ComScore is putting next quarter guidance at $0.10 to $0.11 non-GAAP EPS on $25.9 to $26.2 million in revenues, while First Call has estimates at $0.16 EPS on $25.3+ million in revenues.  comScore is also putting guidance for 2008 at $0.55 to $0.58 non-GAAP EPS on $112.2 to $113.2 million in annual revenues, while First Call has estimates at $0.79 non-GAAP EPS on $112.6 million in revenues.  We would note that this guidance for 2008 may be impacted by a deferred tax item.  We’d also note that the company noted it has a seasonally high burden in the first quarter due to payroll taxes and vacation accruals, and it even noted a ramp up in sales and technology groups.

Shares closed up over 6% today at $27.45.  But as the market is in a show-me mode, shares  are trading down 11% from its closing price at $24.40 in after-hours trading.  The 52-week trading range is $19.70 to $42.00.

Jon C. Ogg
February 7, 2008