Dealertrack Technologies Surges Following Q2 2014 Earnings

Shares of Dealertrack Technologies

take off by nearly 19 percent inter day Tuesday. The company reports a bullish Q2 2014 earnings Tuesday after the market close consisting of an EPS of $0.41 versus the estimated $0.37. EPS were Up 11 percent from the same quarter last year. Revenue beat consensus estimates of $213.29 million, reporting sales of $224.80 million, making a 85 percent increase year-over-year. Adjusted EBITDA for the quarter was $50.1 million, compared to Q2 2013s $32.8 million. Adjusted net income for the quarter was $22.4 million, compared to $16.7 million for Q2 2013 The company released Non-GAAP guidance for 2014, including adjusted EBITDA between $186.0 million and $190.0 million, increasing from prior given guidance of between $180.0 million and $188.0 million. Adjusted net income for 2014 between $81.0 million and $86.0 million, up from prior guidance of between $78.0 million and $84.0 million. Diluted adjusted net income per share for the year between $1.47 and $1.56,increasing from prior guidance of $1.42 and $1.53 per share.