Solera Posts Q2 Loss On Charges; Lifts FY14 Outlook - Quick Facts

(RTTNews) - Solera Holdings, Inc. (SLH), a global provider of software and services to the automobile insurance claims processing and decision support industries, reported a second-quarter net loss attributable to company of $51.1 million, compared to net income of $19.8 million, prior year. The company said the net loss is attributable to certain non-recurring charges incurred in the second quarter. Net loss attributable to Solera per share was $0.74, compared to income per share of $0.28. Adjusted net Income per share for the second quarter was $0.64. On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $0.64 for the quarter. Analysts' estimates typically exclude special items.

Revenue was $238.9 million, a 14.2% increase over $209.2 million, prior year. After adjusting for changes in foreign currency exchange rates, revenue increased by approximately 13.4%. Analysts expected revenue of $ 240.41 million for the quarter.

The company updated its previous outlook issued on December 3, 2013 for full fiscal year ending June 30, 2014. The company now expects fiscal 2014 revenues in the range of $981 million — $987 million, and adjusted earnings per share of $2.78 — $2.86. Analysts expect the company to report fiscal 2014 earnings per share of $2.67.

The Audit Committee of the company's Board has approved the payment of a quarterly dividend of $0.17 per share of outstanding common stock and per outstanding restricted stock unit. The dividends are payable on March 4, 2014 to stockholders and restricted stock unit holders of record at the close of business on February 19, 2014.