Non-GAAP net adjusted EBITDA was $54.6 million, or 44 percent of revenue, compared to non-GAAP net adjusted EBITDA of $47.8 million, or 45 percent of revenue, for 2010.
For 2011, Monotype Imaging’s operating expense and profitability metrics, such as non-GAAP net adjusted EBITDA, included approximately $800,000 of transaction costs related to the acquisition of Ascender and the proposed acquisition of Bitstream’s font business. The equivalent GAAP and non-GAAP earnings per share impact was $0.02.
A reconciliation of GAAP measures to non-GAAP measures for the three and 12 months ended Dec. 31, 2011 and 2010 is provided in the financial tables that accompany this release.
Cash, cash flow and debt balancesMonotype Imaging had cash and cash equivalents of $53.9 million as of Dec. 31, 2011, an increase from $42.8 million as of Dec. 31, 2010. The company generated $11.1 million of cash from operations in the fourth quarter of 2011 and $39.3 million for the full year 2011. Monotype Imaging’s outstanding debt was $37.3 million as of Dec. 31, 2011, a decrease from $65.9 million as of Dec. 31, 2010. The company had net cash of $16.5 million as of Dec. 31, 2011, compared to net debt of $23.1 million as of Dec 31, 2010. Financial outlook For the first quarter of 2012, Monotype Imaging expects revenue in the range of $32.5 million to $34.0 million. The company anticipates first quarter 2012 non-GAAP net adjusted EBITDA in the range of $13.5 million to $14.5 million, GAAP earnings per diluted share in the range of $0.15 to $0.17 and non-GAAP earnings per diluted share in the range of $0.21 to $0.23. For the full year 2012, Monotype Imaging expects revenue in the range of $133.0 million to $137.0 million. The company anticipates full year 2012 non-GAAP net adjusted EBITDA in the range of $57.0 million to $60.0 million, GAAP earnings per diluted share in the range of $0.68 to $0.73 and non-GAAP earnings per diluted share in the range of $0.93 to $0.98.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV