ChannelAdvisor: 4Q Earnings Snapshot
MORRISVILLE, N.C. (AP) _ ChannelAdvisor Corp. (ECOM) on Wednesday reported fourth-quarter net income of $607,000, after reporting a loss in the same period a year earlier.
On a per-share basis, the Morrisville, North Carolina-based company said it had net income of 2 cents. Earnings, adjusted for stock option expense and severance costs, were 13 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The provider of cloud-based e-commerce services posted revenue of $34.8 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $34.7 million.
For the year, the company reported that its loss narrowed to $7.6 million, or 28 cents per share. Revenue was reported as $131.2 million.
For the current quarter ending in April, ChannelAdvisor said it expects revenue in the range of $31.5 million to $32 million.
The company expects full-year revenue in the range of $136 million to $139 million.
ChannelAdvisor shares have stayed flat since the beginning of the year. The stock has climbed 21 percent in the last 12 months.