Constant Contact Inc. (CTCT), Thursday reported a wider net loss for the fourth quarter, despite a 61% growth in revenue. The quarterly non-GAAP net loss also remained flat. Further, the company provided financial outlook for the first quarter, and fiscal 2009.
The company posted a GAAP net loss attributable to common stockholders of $1.6 million or $0.06 per share for the fourth quarter, compared to a loss of $1.1 million or $0.04 per share in the prior year quarter.
Excluding items, non-GAAP net loss attributable to common stockholders remained flat at $0.03 per share. On average, 7 analysts polled by Thomson Reuters expected the company to report a loss of $0.03 per share for the fourth quarter. Analysts' estimate typically excludes special items.
Total revenue for the fourth quarter increased 61% to $25.5 million from $15.9 million in the same quarter of last year. Seven analysts had a consensus revenue estimate of $24.85 million for the fourth quarter.
Constant Contact ended the fourth quarter of 2008 with over 253,400 email marketing customers, an increase of 54% over last year. During the fourth quarter of 2008, Constant Contact added over 24,800 net new email marketing customers.
Total operating expenses for the quarter increased to $19.9 million from $12.2 million in the fourth quarter of 2007.
For the full year 2008, Constant Contact reported a GAAP net loss attributable to common stockholders of $2.1 million or $0.07 per share, compared to a loss of $9.1 million or $0.97 per share in the year-ago.
Non-GAAP net income attributable to common stockholders was $0.03 per share, compared to a loss of $0.90 per share in 2007.
Annual revenue jumped 73% to $87.3 million from $50.5 million in the preceding year.
Analysts expected the company to report earnings of $0.02 per share on revenue of $86.64 million for the year.
For the first quarter 2009, the company anticipates a GAAP net loss of $1.7 million to $1.9 million, or a loss of $0.06 to $0.07 per share, and non-GAAP net loss attributable to common stockholders of $0.02 to $0.03 per share. The company expects first quarter revenue to be in the range of $27.7 million to $27.9 million.
Street estimates earnings of $0.00 per share on revenue of $27.30 million for the first quarter.
For the full year 2009, the company forecasts a GAAP net loss of $2.9 million to $3.3 million, or a loss of $0.10 to $0.12 per share, and non-GAAP net income attributable to common stockholders per share of $0.06 to $0.07 per share. The company expects full year 2009 revenue to be in the range of $125 million to $130 million.
Analysts project earnings of $0.13 per share on revenue of $127.68 million for the year 2009.
CTCT closed Thursday's regular trading session at $14.96, down 22 cents or 1.45%.
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