Courtesy of Benzinga.
Rimage Corporation (Nasdaq: RIMG) today announced revised guidance for the fourth quarter ended December 31, 2011. Based upon preliminary unaudited results, the Company currently anticipates that revenue in the fourth quarter of 2011 will be approximately $22 million. The Company expects to report a fourth quarter net loss on a GAAP basis, including the amortization of intangibles created by the purchase accounting adjustments related to its acquisition of Qumu on October 10, 2011 which were not part of previous earnings guidance, of between $(0.15) and $(0.17) It expects to report a non-GAAP net loss per share of between $(0.12) and $(0.14) including Qumu transaction costs but excluding the amortization of intangibles. The Company had previously provided guidance for fourth quarter 2011 revenue of between $24 and $26 million, which included a $4 to $5 million contribution from Qumu. It had estimated fourth quarter non-GAAP 2011 earnings per share, including $1.3 million of Qumu transaction costs but excluding the impact of amortization of intangibles, of between $(0.02) and $0.01
The Company also announced that it expects to generate cash from operations in the fourth quarter. In addition, through its quarterly dividend and stock repurchase activities, it returned almost $4 million back to shareholders during the fourth quarter.
For the full year, the Company expects revenue of approximately $84 million. GAAP earnings per share are estimated to be between $0.28 and $0.30 These earnings include the amortization of Qumu intangibles and one time Qumu transaction costs of $1.7 million. After the impact of the Qumu acquisition, quarterly dividend and stock repurchase activity, the Company expects to end fiscal 2011 with approximately $70 million in cash on the balance sheet.
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