Carbonite, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016; Provides Earnings Guidance for the Fourth Quarter of 2016; Revises Earnings Guidance for the Full Year of 2016
For the nine months, the company reported revenue of $153.498 million against $101.551 million a year ago. Loss from operations was $2.623 million against $16.170 million a year ago. Loss before income taxes was $2.615 million against $16.005 million a year ago. Net loss was $3.429 million or $0.13 per basic and diluted share against $17.016 million or $0.63 per basic and diluted share a year ago. Net cash provided by operating activities was $3.364 million against $8.540 million a year ago. Purchases of property and equipment were $3.715 million against $8.273 million a year ago. Non-GAAP net income was $13.115 million or $0.48 per basic and diluted share against $501,000 or $0.02 per basic and diluted share a year ago.
For the fourth quarter of 2016, revenues are expected to be in the range of $46.6 million to $51.6 million and non-GAAP net income basic and diluted per share to be in the range of $0.07 to $0.11. Non-GAAP revenue is expected between $47.1 million - $52.1 million.
For the full year of 2016, revenues are expected to be in the range of $200.1 million - $205.1 million against previously expected $192.7 million to $202.7 million; non-GAAP revenues are expected to be in the range of $202.5 million - $207.5 million against previously expected $195.0 million to $205.0 million. Non-GAAP net income per share is expected in the range of $0.56 - $0.60 against previously expected $0.48 -$0.52. The company outlook for non-GAAP gross margin is increasing and expected to be in the range of 71.5% to 72.5%. The company outlook for adjusted free cash flow is also increasing and expected to be in the range of $14 million to $16 million.