Carbonite, Inc. Reports Unaudited Consolidated Financial Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Earnings Guidance for the First Quarter and Full Year of 2017
For the year, the company reported revenue of $206.986 million against $136.616 million a year ago. Loss from operations was $2.785 million against $21.658 million a year ago. Loss before income taxes was $2.717 million against $21.513 million a year ago. Net loss was $4.100 million against $21.615 million a year ago. Net loss per basic and diluted share was $0.15 against $0.80 a year ago. Net cash provided by operating activities was $14.374 million against $13.174 million a year ago. Purchases of property and equipment were $7.792 million against $9.730 million a year ago. Non-GAAP revenue was $209.300 million against $136.616 million a year ago. Non-GAAP net income was $16.425 million or $0.60 per diluted share against $3.229 million or $0.12 per diluted share a year ago. Free cash flow was $6.582 million against $3.444 million a year ago. Adjusted free cash flow was $18.179 million against $14.251 million a year ago.
For the first quarter of 2017, non-GAAP revenues are expected to be in the range of $55.1 million to $59.1 million and non-GAAP net income per share to be in the range of $0.06 to $0.08. GAAP revenues are expected to be in the range of $51.3 million to $55.3 million.
For the full year of 2017, GAAP revenues are expected to be in the range of $223.0 million to $243.0 million, non-GAAP revenues are expected to be in the range of $232.5 million to $252.5 million and non-GAAP net income per share to be in the range of $0.72 to $0.80. The company expects non-GAAP gross margin in the range of 74.0% to 75.0% and adjusted free cash flow in the range of $20 to $24 million. Effective tax rate was 12% for the full year of 2017. In total, they expect CapEx for the year to be approximately $12 million, with the year-on-year increase driven largely by the onetime data center consolidation spend and some additional CapEx associated with appliances for use by their customers.