This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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!

Perion Announces Record Financial Results: Full Year Non-GAAP Revenues Of $104.6 Million, Up 71%, EBITDA Of $25.5 Million, Up 82%

Stocks in this article: PERI

Perion Network Ltd. (NASDAQ: PERI) today announced record financial results for the fourth quarter and full year ended December 31, 2013.

Full Year 2013 Perion non-GAAP Financial Highlights Include:

  • Revenues increased 71% year-over-year and were $104.6 million;
  • EBITDA increased 82% year-over-year reaching $25.5 million;
  • Net income increased 95%, reaching $20.1 million; and
  • Diluted earnings per share increased 56%, reaching $1.54.

Q4 2013 Perion non-GAAP Financial Highlights Include:

  • Revenues increased 47% year-over-year reaching $31.3 million;
  • EBITDA increased 56% year-over-year to $7.7 million;
  • Net income increased 77% year-over-year, reaching $6.4 million; and
  • Diluted earnings per share increased 53% year-over-year, reaching $0.49.

On January 2, 2014, Perion completed the acquisition of Conduit’s ClientConnect in an all-stock transaction. Select highlights of the pro-forma performance of ClientConnect as provided by Conduit are as follows:

Full Year 2013 ClientConnect non-GAAP Financial Highlights Include:

  • Revenues were $325.5 million;
  • EBITDA reached $96.8 million; and
  • Net income was $86.7 million

Q4 2013 ClientConnect non-GAAP Pro Forma Financial Highlights Include:

  • Revenues were $84.1 million;
  • EBITDA was $17.3 million; and
  • Net income reached $17.2 million.

Josef Mandelbaum, Perion’s CEO, commented: “This was a strong end to a record and transformational year for our company. We exceeded our guidance and delivered year over year non-GAAP revenue growth of 71% and non-GAAP net income doubled. More importantly, we completed a milestone acquisition uniquely positioning us as one of the clear industry leaders, enabling us to evolve as an even stronger company in the future. This future is focused on developers who are challenged to reach more customers, increase engagement and monetize their innovations on both the desktop and mobile platforms. Our Lifecycle Management Platform will address all these needs, and become the industry gold standard.”

1 of 4

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!

Markets

DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

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