Rentrak Turns To Profit In Q1 - Quick Facts

(RTTNews) - Rentrak Corp. (RENT), the leader in precisely measuring movies and TV everywhere, reported first quarter income from continuing operations, net of income taxes, of $1.5 million, or $0.10 per share, compared to a loss of $1.4 million, or $0.11 per share, for the same period last year. Excluding items, loss from continuing operations, net of income taxes, for the first quarter of fiscal 2016 would have been $0.2 million or $0.01 per share.

On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.01 for the quarter. Analysts' estimates typically exclude special items.

Revenue increased 23 percent to $27.5 million compared to $22.3 million, last year. Analysts expected revenue of $30.06 million for the quarter. Revenue for Rentrak's TV Everywhere product line increased 49 percent to $15.6 million.

Rentrak reiterated its fiscal 2016 guidance and selected longer-term metrics, including: total company revenue growth of 36 percent to 39 percent; and TV Everywhere revenue growth of 55 percent to 65 percent.

"We are very pleased with our progress this quarter, and continue to believe that we are firmly on target to achieve our full year guidance given the health of our business in the media ecosystem," said Bill Livek, Rentrak's CEO.