Bankrate posts 4Q profit
Bankrate Inc. posted a profit for its fourth quarter as its revenue soared 47 percent from a year earlier.
The financial website company reported after the market closed Monday that it earned $14 million, or 14 cents per share, for the quarter that ended Dec. 31. That's compared with a loss of $4.8 million, or 5 cents per share, in the same quarter last year.
Excluding some special compensation, public offering and other expenses, the company earned 19 cents per share versus 9 cents per share the prior period.
Bankrate's total revenue increased 47 percent to $113.8 million.
Analysts polled by FactSet earned 15 cents per share on revenue of $103.5 million.
For the full year, Bankrate reported a loss of $13.4 million, or 14 cents per share. That's compared with a loss of $21.4 million, or 30 cents per share, in 2010. Its adjusted earnings were 61 cents per share, compared with 31 cents per share in the prior year.
Revenue for the year rose from $220.6 million in 2010 to $424.2 million in 2011.
Bankrate said while the company's growth accelerated in 2011 and the year has started off in line with its expectations, it is trying to prudent in its future guidance. While it did not issue an exact earnings guidance, it said it expected top-line growth in the mid-to-20 percent range.
Bankrate, which runs sites such as bankrate.com, creditcards.com, bankaholic.com and others, is based in New York. Shares of the company fell 37 cents to close at $24.39 but rose a penny after hours following the earnings report.