Financial Technology - Earnings and Guidance
Solera Holdings updates outlook for FY'10, declares quarterly dividend
November 03, 2009 7:59 PM ET
By Zaeem Shoaib
|  Related Companies | Related Documents | Related Articles |
Solera Holdings Inc. on Nov. 3 updated its outlook for the fiscal year ending June 30, 2010, and now expects revenues for the year to be in the range of $627 million to $632 million, compared to the previous expectation of $594 million to $602 million in revenues. Net income for the year is expected to be between $62 million and $71 million, up from net income of between $49 million and $55 million expected in the previous guidance. Adjusted net income is projected to be in the range of $132 million to $138 million, or $1.89 per share to $1.97 per share, compared to the prior expectation of adjusted net income of $124 million to $128 million, or $1.76 per share to $1.83 per share. The Thomson First Call mean EPS estimate for the year is $1.82, according to SNL Financial. Adjusted EBITDA for the period is expected to be between $244 million and $253 million, up from adjusted EBITDA of $229 million to $235 million expected in the previous outlook. The outlook assumes constant exchange rates from those prevailing, no acquisitions and a tax rate of 28% to calculate adjusted net income. The company's board approved a quarterly cash dividend of 6.25 cents per share of outstanding common stock and per outstanding restricted stock unit, payable Dec. 21 to stockholders and restricted stock unit holders of record as of the close of business Nov. 23. In addition, Solera Holdings reported net income attributable to the company of $20.0 million, or 29 cents per share, for the quarter ended Sept. 30, compared to $14.3 million, or 22 cents per share, in the year-ago period. | 
Add to Library