Dealertrack Technologies Q1 Loss Widens; Lifts FY14 Revenue Outlook

(RTTNews) - Dealertrack Technologies, Inc. (TRAK) reported first-quarter loss of $11.6 million or $0.25 per share, wider than $34 thousand or $0.00 per share in the same period last year.

Adjusted earnings for the quarter were $11.5 million or $0.23 per share, down from $12.0 million or $0.27 per share in the year-ago period. On average, eight analysts polled by Thomson Reuters expected the company to earn $0.29 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased to $158.81 million from $109.06 million last year, while seven analysts expected revenues of $153.75 million.

Looking ahead to the fiscal year 2014, the company now expects GAAP loss to be in the range of $0.34 per share to $0.23 per share, adjusted net income in the range of $1.42 per share to $1.53 per share and revenue in the range of $814.0 million to $826.0 million.

Earlier, the company expected GAAP loss to be in the range of $0.24 per share to $0.13 per share, adjusted net income in the range of $1.42 per share to $1.53 per share and revenue in the range of $800.0 million to $816.0 million.

Analysts currently expect the company to report full-year earnings of $1.48 per share on revenues of $807.44 million.