Carbonite, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Provides Earnings Guidance for the Fourth Quarter of 2018; Revises Earnings Guidance for the Full Year 2018
For the nine months, the company reported revenue of $219,442,000 against $177,770,000 a year ago. Income from operations was $1,109,000 against loss of $12,620,000 a year ago. Loss before income taxes was $6,934,000 against $16,138,000 a year ago. Net income was $6,843,000 against loss of $2,388,000 a year ago. Diluted net earnings per share were $0.21 per share against $0.09 basic and diluted net loss per share a year ago. Non-GAAP revenue was $223,867,000 against $183,268,000 a year ago. Non-GAAP net income was $39,620,000 against $14,076,000 a year ago. Non-GAAP diluted net income per share was $1.21 per share against $0.47 per share a year ago. Net cash provided by operating activities was $33,814,000 compared to $17,331,000 a year ago. Purchases of property and equipment were $9,927,000 compared to $11,944,000 a year ago. Adjusted free cash flow was $32,967,000 compared to $10,367,000 a year ago. EBITDA was $30,779,000 compared to $4,548,000 a year ago. Adjusted EBITDA was $56,206,000 compared to $25,822,000 a year ago.
For the fourth quarter of 2018, the company expects GAAP revenue to be in range of $77.6 million to $80.6 million. Non-GAAP revenue is expected to be in range of $78.6 million to $81.6 million. Non-GAAP diluted net income per share is expected to be in range of $0.40 per share to $0.44 per share.
For the full year of 2018, the company now expects GAAP revenue to be in range of $297.0 million to $300.0 million, non-GAAP revenue is expected to be in range of $302.5 million to $305.5 million, non-GAAP diluted net income per share is expected to be in range of $1.61 per share to $1.65 per share, adjusted free cash flow to be in range of $43.0 million to $46.0 million against prior guidance of GAAP revenue to be in range of $296.9 million to $306.9 million, non-GAAP revenue is expected to be in range of $302.5 million to $312.5 million, non-GAAP diluted net income per share is expected to be in range of $1.51 per share to $1.59 per share, adjusted free cash flow to be in range of $40.0 million to $45.0 million.