Carbonite, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended Dec. 31, 2017; Provides Earnings Guidance for the First Quarter of 2018 and Full Year 2018; Reports Intangible Asset Impairment Charges for the Fourth Quarter Ended Dec. 31, 2017
For the year, the company reported revenue of $239,462,000 compared to $206,986,000 a year ago. Loss from operations was $12,065,000 compared to $2,784,000 a year ago. Loss before income taxes was $17,679,000 compared to $2,716,000 a year ago. Net loss was $4,002,000 or $0.14 per basic and diluted share compared to $4,099,000 or $0.15 per basic and diluted share a year ago. Net cash provided by operating activities was $31,330,000 compared to $13,165,000 a year ago. Purchases of property and equipment were $17,351,000 compared to $6,582,000 a year ago. Payment for intangibles was $1,250,000. Non-GAAP revenue was $246,090,000 compared to $209,300,000 a year ago. Non-GAAP net income was $22,833,000 or $0.79 per diluted share compared to $16,426,000 or $0.600 per diluted share a year ago.
For the first quarter of 2018, the company expects GAAP revenue of $61.7 million - $63.7 million, non-GAAP revenue of $63.0 million - $65.0 million and non-GAAP net income per share of $0.20 - $0.24.
For the full year 2018, the company expects GAAP revenue of $294.0 million - $304.0 million, non-GAAP revenue of $302.5 million - $312.5 million, non-GAAP net income per share (diluted) of $1.45 - $1.55, non-GAAP gross margin of 76.0% - 77.0% and adjusted free cash flow of $32.0 million - $38.0 million.
The company reported intangible asset impairment charges of $352,000.