Shutterstock Q4 Results Top View - Update

(RTTNews) - Shutterstock Inc. (SSTK), a provider of commercial digital imagery, Thursday reported fourth-quarter profit and revenues that topped estimates. The company also guided first-quarter and full year revenues above view. The stock gained nearly 7 percent in the extended trade.

Net income available to common shareholders declined to $7.84 million or $0.22 per share from $28.74 million or $0.88 per share last year which included a one-time tax benefit of $28.8 million.

Excluding items, earnings were $0.26 per share, while it totaled $0.20 per share in the prior year. On average, eight analysts polled by Thomson Reuters estimated earnings of $0.21 per share. Analysts' estimates typically exclude special items.

Adjusted Earnings Before Interest, Tax, Depreciation and Amortization, or EBITDA, was $15.4 million as compared to $11.3 million in the fourth quarter of 2012.

Revenues climbed 38 percent to $68.03 million from $49.16 million in the prior year. Analysts had a consensus revenue estimate of $65.86 million for the quarter.

Quarterly paid image downloads reached a record of 28.0 million and number of active customer accounts surpassed 940,000.

Founder and CEO Jon Oringer said, "We had a strong finish to an outstanding year. With our expanding overseas operations, fast-growing enterprise sales efforts and disruptive image and footage pricing plans, Shutterstock is well-positioned to continue delivering innovation and inspiration to our 55,000 contributors and nearly 1 million users worldwide."

Looking ahead to the first quarter, the company expects revenues of $69 million to $70 million, while analysts currently expect $67.73 million.

For fiscal year 2014, the company expects revenues of $305 million to $310 million. Analysts currently estimate revenues of $304.49 million for the year.

SSTK fell 0.1 percent on Thursday to close at $82.46, but added 6.8 percent in the extended trade.