For the full year 2012, Monotype Imaging expects Bitstream’s font business to contribute approximately $13.0 million to $14.0 million in revenue and $2.0 million to $3.0 million in net adjusted EBITDA. The full year 2012 impact from the Bitstream acquisition includes the purchase accounting write-down of deferred revenue, the alignment of Bitstream’s revenue recognition policies with Monotype Imaging’s policies and integration costs. Total revenue is now expected to be in the range of $146.0 million to $151.0 million, up from prior guidance of $133.0 million to $137.0 million. Net adjusted EBITDA is now expected to be in the range of $59.0 million to $63.0 million, up from prior guidance of $57.0 million to $60.0 million. The acquisition is expected to be neutral to GAAP earnings per diluted share in the range of $0.68 to $0.73, and non-GAAP earnings per diluted share is now expected to be in the range of $0.96 to $1.01, up from prior guidance of $0.93 to $0.98.
A reconciliation of GAAP measures to non-GAAP measures for the three months ended March 31, 2012 and the full year 2012 is provided in the financial tables that accompany this release.
Conference call details
Monotype Imaging will host a conference call for financial analysts and shareholders tomorrow, March 20, 2012, at 8:00 a.m. EDT to discuss the company’s acquisition of Bitstream’s font business. Individuals who are interested in listening to the audio webcast should go to the Investor Relations portion of the About Us section of Monotype Imaging’s website at
. The live call can also be accessed by dialing 1-866-225-8754 (domestic) or 1-480-629-9818 (international) using passcode 4525767. If individuals are unable to listen to the live call, the audio webcast will be archived in the Investor Relations portion of the company’s website for one year.
This press release contains certain forward-looking statements about Monotype Imaging, including statements that involve risks and uncertainties concerning Monotype Imaging’s operation of Bitstream’s business after the acquisition. Actual events or results may differ materially from those described, expressed or implied in this press release due to a number of risks and uncertainties, many of which are beyond the control of Monotype Imaging. The potential risks and uncertainties include, among others, risks related to our ability to integrate the Bitstream business with Monotype Imaging’s business, the possibility that the financial performance of the business will fail to meet expectations, general economic conditions, industry specific conditions and the possibility that Monotype Imaging may be adversely affected by other economic, business or competitive factors. In addition, information is available in the documents that Monotype Imaging and Bitstream, respectively, file with the SEC on Forms 10-K, 10-Q and 8-K. These filings identify and address other important factors that could cause Monotype Imaging's financial and operational results to differ materially from those contained in the forward-looking statements set forth in this document. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or the financial condition of Monotype Imaging. The company is under no duty to update any of the forward-looking statements after the date of this press release to conform to actual results.