Local Corporation Revises Earnings Guidance for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for the Year 2015
For the year 2014, the company's revenue is expected to be between $82.8 million and $83.3 million, compared with prior guidance of $87 million to $90 million. Net loss is expected to be in the range of $5.5 million to $5.7 million. Adjusted EBITDA is expected to be in the range of $2.2 million to $2.4 million, in line with previous guidance of $2.0 million to $2.4 million. Adjusted EBITDA per diluted share is expected to be in the range of $0.09 to $0.10.
For the year 2015, the company's revenue is expected to be in the range of $82 million to $86 million. Adjusted EBITDA is expected to be in the range of $3 million to $4 million, or between $0.13 per diluted share and $0.17 per diluted share, assuming diluted weighted average shares of 24 million and taking into account the dilutive effect of stock options and warrants. Projected 2015 adjusted EBITDA factors: Interest expense of $1.1 million, income tax provision of $100,000, depreciation expense of $4.5 million, amortization expense of $150,000, stock compensation expense of $600,000 and warrant and conversion option revaluation expense items are undeterminable, but may be significant non-cash gains or losses.