This Day On The Street
Continue to site
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

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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,859.29 +139.37 0.79%
S&P 500 2,097.90 +17.49 0.84%
NASDAQ 5,144.4170 +35.7510 0.70%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs