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AVG Technologies Q3 Profit Soars; Lifts FY12 Outlook

AVG Technologies N.V. (AVG) reported that net income available to ordinary shareholders for the third quarter of 2012 was $18.96 million, or $0.35 per share, compared to net income of $3.64 million, or $0.09 per share in the previous year quarter.

Non-GAAP adjusted net income for the third quarter of 2012 was $23.4 million, or $0.43 per share, compared to non-GAAP adjusted net income of $10.5 million, or $0.20 per share in the comparable quarter last year.

Revenue for the third quarter was $95.25 million, up 34% from $71.17 million in the year-ago quarter.

For the fourth quarter of 2012, revenue is expected to be in the range of $94.0 million to $98.0 million. Net income is expected to be in the range of $9.0 million to $10.0 million or $0.16 to $0.18 per share.

Non-GAAP net income is expected to be in the range of $14.0 million to $15.0 million or $0.25 to $0.27 per share.

AVG increased its financial outlook for fiscal year 2012. Revenue is expected to be in the range of $354.0 million to $358.0 million, up from the previous outlook of $336.0 million to $344.0 million.

For fiscal 2012, net income is expected to be in the range of $50.0 million to $51.0 million, or $0.91per share to $0.93 per share.

Non-GAAP adjusted net earnings is expected to be in the range of $1.34 to $1.36 per share, up from $1.15 to $1.20 per share provided earlier.

by RTTNews Staff Writer

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