Shutterstock Q4 Adj. Profit Tops View; Issues Q1 Revenue Outlook

(RTTNews) - Shutterstock Inc. (SSTK), a provider of commercial digital imagery, Thursday reported fourth-quarter net income available to common shareholders of $7.8 million or $0.22 per share, compared with $28.7 million or $0.88 per share last year.

Excluding items, adjusted earnings for the quarter were $9.1 million, compared to $6.6 million in the year-ago quarter. Earnings for the latest fourth quarter were $0.26 per share, up from $0.20 per share last year. On average, analysts polled by Thomson Reuters estimated earnings of $0.21 per share. Analysts' estimates typically exclude special items.

Revenues for the quarter were $68.03 million, up 38% from $49.16 million in the prior year, while seven analysts had a consensus revenue estimate of $65.86 million for the quarter.

Looking ahead to the first quarter, the company expects revenues of $69 million to $70 million, while analysts currently expect $67.73 million.

For fiscal year 2014, the company expects revenues of $305 million to $310 million. Analysts currently estimate revenues of $304.49 million for the year.