RetailMeNot Tops Q1 Expectations

RetailMeNot Inc SALE reported stronger-than-expected results for the first quarter on Tuesday. The Austin, Texas-based company reported quarterly earnings of $4.1 million, or $0.07 per share, compared to $6.1 million, or $0.11 per share, in the year-ago quarter. Excluding one-time items, the company earned $0.20 per share. Its revenue slipped 1 percent to $60.4 million. However, analysts were expecting a profit of $0.14 per share on revenue of $59 million. The average estimate among 4 Estimize users was for earnings of $0.15 per share and revenue of $58.58 million. Mobile online transaction net revenue climbed 137 percent to $5.6 million in the first quarter, while advertising + in-store net revenue jumped 100 percent to $7.7 million. Desktop online transaction net revenue dropped 14 percent to $47.1 million. Net revenue from international markets came in flat at $13.7 million during the quarter. Adjusted EBITDA declined 13 percent to $18.7 million. Total visits increased 16 percent to 179.9 million in the quarter, while monthly mobile unique visitors climbed 55 percent to 18.4 million. "We made solid progress this quarter in executing on our plans to further monetize our fast growing mobile audience," said Cotter Cunningham, CEO & Founder, RetailMeNot, Inc. "In 2015, we continue to focus on innovating and investing in our highest growth areas such as in-store and mobile, increasing our audience of consumers coming directly to our marketplace, investing in a strong sales organization to deepen our relationships with retailers and looking for ways to help more consumers save money across the growing omni-channel landscape." For the current quarter, the company projects revenue of $55 million to $58 million. For the full year, RetailMeNot projects revenue of $275 million to $285 million. RetailMeNot shares fell 2.66 percent to close at $17.21 yesterday.