LifeLock (LOCK) Tops Q3 EPS by 3c; Announces Settlement Agreement with FTC

LifeLock (NYSE: LOCK) reported Q3 EPS of $0.28, $0.03 better than the analyst estimate of $0.25. Revenue for the quarter came in at $152 million versus the consensus estimate of $147.36 million.

LifeLock sees Q4 2015 EPS of $0.28-$0.30, versus the consensus of $0.30. LifeLock sees Q4 2015 revenue of $153-155 million, versus the consensus of $152.08 million.

The Company also announced that it has reached agreements with the staff of the Federal Trade Commission and representatives of a national class of consumers on a comprehensive settlement resolving outstanding litigation relating to its past marketing representations and information security programs. The Company noted that the agreements are not yet final, as the FTC staff’s recommendation to approve the settlement must still be approved by the Commission itself and a federal judge, and the class action settlement will require review and approval by the court.

The proposed FTC settlement does not require us to change our current products, services, or business and information security practices, including in particular, our current marketing and advertising practices. In light of the agreements, LifeLock has accrued an additional $96 million in reserves, bringing the total amount of its reserves for this matter to $116 million. This $116 million also includes a $3 million reserve for a potential settlement with state attorneys general.

For earnings history and earnings-related data on LifeLock (LOCK) click here.

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