This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Navarre Reports Strong Fiscal Third Quarter 2013 Results

Adjusted gross margin (a non-GAAP term) in the third quarter decreased to 9.5% from 10.6% in the year-ago quarter, primarily due to lower gross margin in the retail distribution of software products (see "Use of Non-GAAP Financial Information" below, for further discussion).

Total adjusted operating expenses (a non-GAAP term) in the third quarter decreased 3% to $13.0 million from $13.4 million in the year-ago quarter, due to benefits the company continues to realize from its restructuring plan completed in fiscal 2012.

Net income in the third quarter was $10,000 or $0.00 per share, compared to a net loss of $29.1 million or $(0.79) per share in the year-ago quarter. The third quarter of fiscal 2013 included transaction and integration costs related to the acquisition of SpeedFC of $1.5 million.

Adjusted EBITDA (a non-GAAP term) in the third quarter increased 32% to $5.4 million, compared to $4.1 million in the year-ago quarter.

On November 20, 2012, Navarre completed the acquisition of SpeedFC, a leading provider of e-commerce services to online retailers and manufacturers, for closing consideration of $50 million, comprised of $25 million in cash and 17.1 million shares of Navarre common stock.

Nine Months Ended Fiscal 2013 Results

Consolidated net sales from ongoing business in the first nine months of fiscal 2013 increased 9% to $373.7 million from $344.1 million in the same year-ago period. Net sales in the distribution segment from ongoing business was essentially flat during the first nine months of fiscal 2013 to $340.5 million, while the e-commerce and fulfillment services segment achieved a 576% increase in net sales to $33.2 million in the same year-ago period. E-Commerce and fulfillment services now includes the results of SpeedFC, which was acquired on November 20, 2012.

Adjusted EBITDA in the first nine months of fiscal 2013 increased 35% to $8.2 million, compared to $6.1 million in the same year-ago period.

2 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,079.57 -42.44 -0.25%
S&P 500 1,996.74 -3.38 -0.17%
NASDAQ 4,557.6950 -11.9260 -0.26%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs