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Last Update: 03-Aug-12 09:29 ET
OpenTable shares soar nearly 20% following beat on earnings
OpenTable (OPEN $40.68 +6.53) reported second quarter earnings of $0.42 per share, excluding non-recurring items, $0.05 better than the Capital IQ consensus of $0.37, while revenues rose 15.5% year/year to $39.6 million versus the $39.38 mln consensus. The company issues in-line guidance for the third quarter with EPS of $0.34-0.38, excluding non-recurring items, versus the $0.37 consensus and revenues of $39.1-40.2 million versus the $39.85 million consensus. The company issued in-line guidance for fiscal year 2012 with EPS of $1.54-1.66, excluding non-recurring items, versus the $1.57 consensus and revenues of $160-164 million versus the $161.71 million consensus. N. American installed restaurant base as of June 30, 2012, totaled 18,373, an 18% increase over June 30, 2011. On July 27, 2012, the Company agreed to acquire Treat Technologies, Inc., a provider of the Treatful-branded online gift card solutions for restaurants, for approximately $4 million in cash pursuant to an agreement and plan of merger. The completion of the acquisition is subject to customary closing conditions.
