BIDZ.COM (BIDZ) Misses Q3 EPS by 1c; Guides Below for Q4 Revenues
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BIDZ.COM (NASDAQ: BIDZ) reports Q3 EPS of $0.00, 1 cent worse than the analyst estimate of $0.01. Revenue for the quarter was $24.8 million, which compares to the estimate of $22.68 million.
The Company is introducing new revenue guidance for the fourth quarter of 2009 of $28-$32 million, gross profit margin of approximately 28-30%, pre-tax income of approximately $0.4-$1.5 million and expects fully taxed GAAP EPS of $0.01-$0.04. (Q4 revenue consensus is $34.51M)
The Company's results will be affected by its ERP conversion in the fourth quarter of 2009, but the Company expects to resume normalized operations in the first quarter of 2010.
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