SAN FRANCISCO (Thomson Financial) - Shares of Double-Take Software Inc.
dipped Wednesday after the company issued a weaker-than-expected outlook despite
reporting fourth-quarter earnings that came above analysts' estimate.
After Tuesday's closing bell, the Southborough, Mass.-based software company
reported fourth-quarter adjusted earnings of $6.81 million, or 29 cents a share,
above the 17-cent mean estimate of analysts polled by Thomson Financial.
Net income for the quarter ended Dec. 31 was $6.34 million, or 27 cents a
share, versus $1.71 million, or 7 cents a share, in the prior year.
There were 23.2 million shares outstanding in the most recent quarter,
versus 8.21 million a year ago.
Revenue for the quarter rose to $23.5 million from $19.1 million a year
earlier. The mean estimate of analysts polled by Thomson Financial was for
revenue of $24 million.
Double-Take said it expects first-quarter 2008 adjusted earnings of between
10 cents and 11 cents on revenue in the range of $21.9 million to $22.5 million,
below the 13-cent mean estimate of analysts polled by Thomson Financial.
Analysts see revenue for the quarter of $22.2 million.
For the full year 2008 the company expects adjusted EPS of between 63 cents
and 65 cents on revenue in the range of $100.6 million to $103 million.
The mean estimate of analysts polled by Thomson Financial is for a full-year
2008 profit of 71 cents a share on revenue of $103.3 million.
Double-Take stock fell 26% to $11.37.
Brigid Gaffikin
bg/vj
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