EmailOpenTable (OPEN $65.33 -3.57) reported second quarter earnings of
$0.33 per share, $0.06 better than the Capital IQ Consensus Estimate of $0.27.
Revenues rose 52.8% year/year to $34.3 million versus the $35.4 million
consensus.
North America Results: Installed restaurant base totaled 15,560 up 27% y/y;
Seated diners totaled 22.2 million, +47% y/y; Revenues totaled $29.2 million,
+38%y/y; Non-GAAP adjusted EBITDA totaled $14.8 million (+51% y/y...
International Results: Installed restaurant base totaled 7,067 (+276% y/y);
Seated diners totaled 1.6 million (+249% y/y); Revenues totaled $5.0 million
(+289% y/y); Non-GAAP adjusted EBITDA totaled a loss of $0.5 million compared to
a loss of $1.2 million in Q2 2010.
Subscription revenues were $12.6 million (+20% y/y) as a result of the increase
in installed restaurants using our Electronic Reservation Book solution;
Reservation revenues were $18.3 million (+70% y/y) as a result of the increase
in seated diners. Installation and other revenues were $3.4 million (+172% y/y)
as a result of an increase in revenue from other product offerings, including
advertising sales, web service licensing, featured private dining listings and
third-party restaurant coupon sales.
The company announced that I. Duncan Robertson has been appointed Chief
Financial Officer, effective August 23. Mr. Robertson previously co-founded and
served as Chief Financial Officer of SnapStick, Inc., a mobile application
software company.
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