Perion Boosts FY Guidance
Perion Network (NASDAQ: PERI), today announced increased guidance for the full-year 2012 based on continued improvements in the Company's operations.
Based on continued improvements in the Company's back-end systems, which are enabling a strong return on investment, and consequently, an increase in customer acquisition spending as well as increased search distribution partnerships, management is raising non-GAAP guidance for 2012 for the second time this year. Management currently expects:
* Revenues of approximately $55 million, up from previous guidance of $50 to $52 million. * EBITDA of approximately $12 million, compared to previous guidance of $10.5 to $11.5 million * Net Income of approximately $9 million, or $0.90 per share on a non-GAAP basis, an increase compared to previous guidance of $7.5 to $8.5 million
“Our financial performance continues to be strong and we are seeing continued improvements, particularly with our core search business,” commented Chief Executive Officer Josef Mandelbaum. “Our investments in infrastructure and systems over the past year continue to provide strong revenue momentum and increased ROI. In addition, the improved results from Smilebox, bolsters our premium revenue and overall profitability. As a result, we are again increasing our full-year outlook. We currently expect a better than 55% increase in revenues in the second half of this year compared to the second-half of last year.”
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