OpenTable Q1 Adj. Profit Tops View; Issues Q2 Outlook

(RTTNews) - OpenTable, Inc. (OPEN) Thursday reported first-quarter net loss of $3.6 million or $0.16 per share, compared to net income of $7.1 million or $0.30 per share in the same period last year.

Adjusted earnings for the quarter were $11.0 million or $0.45 per share, compared to $10.0 million or $0.45 per share in the year-ago period. On average, 17 analysts polled by Thomson Reuters expected the company to earn $0.42 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased 22 percent to $53.78 million from $45.50 million last year. Analysts expected revenues of $54.39 million.

Looking ahead to the second quarter, the company has forecast earnings in the range of $0.23 to $0.28 per share, with adjusted earnings in the order of $0.43 to $0.48 per share and revenues in the range of $54.7 million to $56.3 million. Analysts currently expect the company to earn $0.46 per share on second-quarter revenues of $55.37 million.

For the fiscal year 2014, the company currently projects earnings in the range of $0.63 to $0.78 per share, with adjusted earnings ranging between $1.81 and $1.96 per share and revenues in the range of $221.9 million to $228.1 million. Analysts currently expect the company to report full-year earnings of $1.84 per share on revenues of $225.42 million.

Earlier, the company expected earnings in the range of $1.09 to $1.29 per share, with adjusted earnings ranging between $1.71 and $1.92 per share and revenues in the range of $221.0 million to $229.0 million.