Dealertrack Technologies Inc. (TRAK) Monday reported fourth-quarter net income of $0.5 million or $0.01 per share, as compared to $32.9 million or $0.76 per share last year.
Last year, the company recorded a gain related to the sale of ALG of $26.8 million and a benefit related to a reversal in the valuation allowance against the company's net U.S. deferred tax assets including disposed deferred tax liabilities of $2.8 million.
Excluding special items, adjusted net income for the quarter rose to $13.7 million or $0.31 per share from $10.3 million or $0.24 per share last year. On average, ten analysts polled by Thomson Reuters expected earnings of $0.29 per share. Analysts' estimates typically exclude special items.
Revenues for the quarter grew to $101.8 million from $91.3 million last year. Analysts estimated revenues of $100.88 million for the quarter.
For the full year 2013, the company expects earnings of $0.22 to $0.29 per share, adjusted earnings of $1.19 and $1.26 per share and revenues of $447.0 million and $456.0 million. Analysts currently estimate earnings of $1.30 per share on revenues of $451.59 million.
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