Endurance International Q2 Loss Narrows; Lifts FY14 Adj. Revenue Forecast

(RTTNews) - Endurance International Group Holdings, Inc. (EIGI), a provider of cloud-based platform solutions, reported Thursday a second-quarter net loss attributable to the company of $13.42 million or $0.11 per share, narrower than last year's loss of $42.96 million or $0.44 per share.

Adjusted net income was $31.44 million, compared to $15.44 million a year ago.

On average, four analysts polled by Thomson Reuters expected earnings of $0.26 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue was $151.99 million, an increase of 19 percent from $128.22 million in the second quarter of 2013. Adjusted revenue was $159.0 million, an increase of 22 percent. Adjusted revenue, excluding the impact of Directi, was $146.2 million, an increase of 12 percent.

Six analysts had a revenue consensus of $156.45 million for the quarter.

Total net paying subscriber additions were approximately 93,000, an increase of 69 percent from the same period a year ago. Excluding the impact of Directi, total net paying subscribers added in the quarter were approximately 92,000.

Hari Ravichandran, chief executive officer and founder of Endurance, said, "As we enter the second half of the year, we believe we can continue to grow revenue while investing in marketing and improving the distribution of our products."

Looking ahead for the third quarter, the company expects adjusted revenue of $161 million to $164 million, a year over year growth of 20 percent to 22 percent, and adjusted EBITDA of $55 million to $57 million, a growth of 10 percent to 14 percent from last year.

For fiscal 2014, for fiscal 2014, the company now expects adjusted revenues of $639 million to $643 million, compared to previous estimate of $637 million to $642 million, a growth of 21 percent to 22 percent. Analysts expect revenues of $638.65 million for the year.

The company continues to expect adjusted EBITDA of $230 million to $235 million, a growth of 11 percent to 13 percent from last year.