AVG Q2 Profit Down; Updates FY14 Outlook - Quick Facts

(RTTNews) - AVG Technologies N.V. (AVG) reported second-quarter net income of $13.7 million, or $0.26 per share, compared to $21.7 million or $0.39 per share, prior year. Adjusted net income was $24.7 million, or $0.47 per share, for the quarter.

On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.47 for the quarter. Analysts' estimates typically exclude special items.

Total revenue was $88.0 million, compared to $100.4 million, prior year. Analysts expected revenue of $91.44 million for the quarter.

AVG updated its outlook for fiscal year 2014. Revenue is expected to be at the low end of the original range of $365 million to $405 million. Non-GAAP EPS is expected to be in the middle of the range of $1.80 to $2.10. GAAP EPS is expected to be in the middle of the range of $1.00 to $1.30. Analysts expect the company to report fiscal 2014 earnings per share of $2.04 on revenue of $384.34 million.