CyberSource Corp. (CYBS) said that its fourth-quarter GAAP net income was $5.1 million and earnings per share was $0.07, compared to net income of $10.0 million and earnings per share of $0.14 in the fourth quarter of 2008.
Non-GAAP net income for the fourth quarter was $17.2 million, a 27% increase compared to $13.6 million for the fourth quarter of 2008. Non-GAAP earnings per share for the fourth quarter was $0.24, a 26% increase compared to earnings per share of $0.19 for the fourth quarter of 2008.
Revenues for the quarter increased to $76.09 million, from $62.25 million in the year ago quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.21 per share on revenues of $73.75 million for the quarter. Analysts' estimates typically exclude special items.
For the first quarter, the company expects to record GAAP net income in the first quarter of between $2.3 and $2.6 million. Non-GAAP net income for the first quarter is expected to be between $14.1 and $14.4 million and non-GAAP earnings per share to be between $0.19 and $0.20. Total revenue is expected to be between $73.5 and $74.0 million. Analysts expect the company to report earnings of $0.21 per share on revenues of $71.67 million for the first-quarter.
For the full year 2010, GAAP earnings per share is expected to be between $0.19 and $0.20 per share. GAAP net income for 2010 is expected to be between $14.5 million and $15.0 million.
Non-GAAP net income for the full year 2010 is expected to be between $66.0 million and $67.5 million. Non-GAAP earnings per share is expected to be between $0.89 and $0.91. Total revenue for 2010 is expected to be between $310.0 and $315.0 million.
Analysts expect the company to report earnings of $0.90 per share on revenues of $308.36 million for fiscal 2010.
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