Shutterstock Q3 Profit Down

(RTTNews) - Shutterstock Inc. (SSTK), a provider of commercial digital imagery and music, reported that its net income available to common stockholders for the third quarter of 2014 was $5.3 million or $0.15 per share down from $6.2 million or $0.18 per share in the third quarter of 2013.

Non-GAAP net income for the third quarter of 2014 was $9.5 million or $0.26 per share, as compared to $7.3 million or $0.21 per share in the third quarter of 2013. Analysts polled by Thomson Reuters expected the company to report earnings of $0.24 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the third quarter of 2014 was $83.7 million, a 41% increase from $59.6 million in the third quarter of 2013. Wall Street expected revenues of $82.41 million for the quarter.

Looking ahead for the fourth-quarter, the company expects revenue to be in the range of $90 million - $92 million. Wall Street expect revenues of $90.77 million for the fourth-quarter.

For full year 2014, the company projects revenue to be between $326 and $329 million. Analysts expect the company to report revenues of $326.23 million for fiscal 2014. The company said in August that it expected revenues of $323 million to $327 million for fiscal 2014.

It is expected that revenue for fiscal 2015 to be in the range of $430 million - $435 million. Analysts expect the company to report revenues of $420.49 million for fiscal 2015.