Speed Commerce (SPDC) Tops Q1 EPS by 2c, Offers FY Outlook

Speed Commerce (NASDAQ: SPDC) reported Q1 EPS of ($0.02), $0.02 better than the analyst estimate of ($0.04). Revenue for the quarter came in at $34.3 million versus the consensus estimate of $33.5 million.

Speed Commerce sees FY2016 revenue of $160-175 million, versus the consensus of $164.25 million.

• The company also maintains its expectation for adjusted EBITDA in fiscal 2016 to range between $15 million to $17 million.

Management Commentary

"Our first fiscal quarter represents the second consecutive quarter of meaningful revenue growth and gross margin point expansion," said Richard Willis, president & CEO of Speed Commerce. "These results are due in large part to the acquisition of Fifth Gear, which has brought our company a more seasonally balanced revenue stream. The integration of Fifth Gear is proceeding and we are pleased with the cost savings achieved to date.

"For fiscal 2016, we expect to continue to see performance improvement from our existing client base as well as revenue and profitability contributions from the clients that we have added recently. We remain confident that we are well positioned to execute our strategic plans in the continuously expanding ecommerce market."

For earnings history and earnings-related data on Speed Commerce (SPDC) click here.

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