Digital River Inc. (DRIV: Quote), Tuesday reported a lower profit for the second quarter, as revenues declined. The company detailed a weak guidance for the third quarter, sending its shares down 13 percent in after market hours.
Net income for the second quarter dropped to $200 thousand or $0.01 per share, from $291 thousand or $0.01 per share last year.
Adjusted net income improved to $6.9 million or $0.20 per share from $6.4 million or $0.17 per share in the second quarter last year.
Second-quarter revenues were $90.8 million compared to $92.5 million last year.
Analysts polled by Thomson Reuters expected earnings of $0.18 per share and revenues of $93.37 million. Analysts' estimates typically exclude one-time items.
Looking forward to the third quarter, the company expects loss of $0.09 to loss of $0.02 per share, adjusted earnings of $0.12 to $0.18 per share and revenue of $88 million to $91 million.
Analysts currently expect earnings of $0.26 per share on revenues of $97.07 million for the third quarter.
For the full year 2012, the company now expects earnings of $0.22 to $0.38 per share, adjusted earnings of $0.96 to $1.08 per share, and revenues of $378 million to $390 million.
Analysts currently estimate earnings of $1.22 per share and revenues of $405.91 million for the year.
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by RTT Staff Writer
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