Bazaarvoice Announces Updates Guidance to Reflect the Acquisition of PowerReviews, Inc.

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Bazaarvoice, Inc.
BV
today announced that it has updated guidance for the first fiscal quarter ending July 31, 2012 and fiscal year ending April 30, 2013 to reflect the contribution from the acquisition of PowerReviews, Inc. completed on June 12, 2012. The contributions from PowerReviews to the first fiscal quarter and fiscal year 2013 reflect partial periods due to the mid-first fiscal quarter timing of the completion of the acquisition and also reflect the impact on revenue from fair value adjustments to the deferred revenue of PowerReviews resulting from the application of generally accepted accounting principles. Adjusted EBITDA and non-GAAP net loss per share exclude the impact of integration and acquisition costs related to the acquisition of PowerReviews. Solely as a result of the acquisition of PowerReviews, Bazaarvoice has updated its prior financial guidance provided on the financial results conference call on June 6, 2012 as follows: First Fiscal Quarter of 2013 Guidance: For the first fiscal quarter ending July 31, 2012, revenue is now expected to be in the range of $33.5 million to $34.0 million, compared to prior guidance of $32.5 million to $33.0 million. Adjusted EBITDA loss is now expected to be in the range of $6.5 million to $7.5 million, compared to prior guidance of a loss of $5.5 million to $6.5 million. Non-GAAP net loss per share is now expected to be in the range of $0.13 to $0.15, compared to prior guidance of a non-GAAP net loss per share range of $0.11 to $0.13. For purposes of calculating non-GAAP net loss per share, weighted average shares outstanding are now expected to be approximately 62.0 million, as compared to prior guidance of approximately 58.6 million, reflecting the issuance of 6.4 million shares of common stock of Bazaarvoice as part of the acquisition of PowerReviews. Fiscal Year 2013 Guidance: For the fiscal year ending April 30, 2013, revenue is now expected to be in the range of $149.0 million to $152.0 million, compared to prior guidance of $137.0 million to $139.0 million. Adjusted EBITDA loss is expected to be in the range of $22.0 million to $23.0 million, unchanged from prior guidance. Non-GAAP net loss per share is now expected to be in the range of $0.45 to $0.48, compared to prior guidance of a non-GAAP net loss per share range of $0.46 to $0.49. For purposes of calculating non-GAAP net loss per share, weighted average shares outstanding are now expected to be approximately 64.2 million, as compared to previous guidance of approximately 58.6 million, reflecting the issuance of 6.4 million shares of common stock of Bazaarvoice as part of the acquisition of PowerReviews.
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Posted In: NewsGuidance
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