Earnings rose a better-than-expected 17% in
first quarter, but second-quarter guidance was soft and the shares eased after hours.
Digital River earned $16.4million, or 41 cents a share, in the quarter, up from $14 million, or 35 cents a share, a year ago. Adjusted for amortization and stock options, among other things, the company earned $20.7 million, or 50 cents a share, in the quarter, 2 cents better than analysts were predicting.
Revenue was $78 million in the quarter, up from $54.5 million a year ago. Analysts surveyed by Thomson First Call had been forecasting revenue of $75.7 million in the latest quarter.
For the second quarter, Digital River expects to earn an adjusted 37 cents a share on sales of $70 million. Analysts were forecasting earnings of 38 cents a share on sales of $69.6 million. For the year, Digital River sees earnings of $1.70 a share on revenue of $300 million. Analysts were forecasting $1.68 a share on sales of $296.9 million.
The stock closed at $47 Thursday. In after-hours trading, it fell $1.90, or 4%, to $45.10.