priceline.com Incorporated (NASDAQ:PCLN) Reports Strong 4Q10 Results with Q111 Guidance Above Street
priceline.com Incorporated (NASDAQ:PCLN) reported strong fourth fiscal quarter results today that soundly beat Street consensus expectations.
The Company reported fourth fiscal quarter revenue of $731 million, a 35% increase year over year from last year’s revenue of $542 million in the same quarter. Analysts polled by Thomson Reuters had expected $734.9 million in revenue. International operations also increased 68%. This increase in revenue year over year is driven in part by continued operational efficiencies and lower expenses and lower tax rate.
Net income for the fourth fiscal quarter rose 75.16% year over year to $135.7 million or $2.66 a share from $78.5 million or $1.55 a share in the same quarter last year.
Excluding one-time items, the company earned $3.40 a share; 31 cents above the consensus estimate of $3.09 a share. The upside in the quarter came again from hotels where strong transaction growth both in the US and internationally, accompanied by improving ADRs, delivered nice growth in gross bookings.
Adjusted EBITDA of $222.8 million was well ahead of management guidance of 200-$210 million on improved advertising efficiency and lower personnel expense. For the quarter, gross bookings reached $3.26 billion on total unit sales of 22.0 million hotel room nights, up 51% year over year, 1.3 million airline tickets, down 2% year over year, and 3.9 million rental car days, up 65% year over year. Revenue margin in the quarter was 22.4%, down 150 basis points year over year.
For the first fiscal quarter, The Company said it expects to earn $2.34 to $2.44 per share, above the analysts’ prediction of $2.30 per share. The company also forecast revenue growth of 29 percent to 34 percent over the year-ago quarter to $753.9 million, compared with estimates of $731.9 million.
Shares of an online travel company, which offers a range of travel services, including hotel rooms, car rentals, airline tickets, vacation packages, cruises and destination services is currently trading at $453.67, up 6.50% from its previous day close after the company posted solid fourth fiscal quarter results with strong fiscal first quarter guidance.
The stock climbed to a new annual high of $469.40, its annual low being $173.32. 1.98 million shares have been traded compared to the daily average of 0.995 million shares. The market capitalization of the stock stands at $22.78 billion with P/E of 50.
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Green Plains Renewable Energy Inc. (NASDAQ:GPRE) Reports Strong 4Q above Street Consensus
Green Plains Renewable Energy Inc. (NASDAQ:GPRE) posted healthy 4Q results, including reported EPS of $0.44 on $757 million in revenue on Wednesday after the market close.
For the fourth fiscal quarter, net income of $16.4 million or $0.44 per diluted share has been posted, 29% below net income of $23.1 million or $0.91 per diluted share, for the same period of 2009. This reported EPS of $0.44 is 8 cents better than street consensus of $0.36.
Revenues during the quarter of $756.8 million have been posted, an increase of 73.3% from $436.7 million for the same period of 2009, above the consensus of $652 million. Ethanol Production sales rose 59% on a 33% increase in ethanol gallons sold to 161.6 million, Agribusiness sales rose 135%, Marketing & Distribution sales rose 67% on a 46% increase in ethanol gallons sold to 273.1 million.
EBITDA rose 6% to $44.0 million despite a 250 basis points decline in operating margins, which were partly offset by $3.3 million higher D&A. Segment operating profits were $0.31/share above forecast.
The Company anticipates acquisition opportunities to surface in both ethanol and grain capacity in 2011 as the company continues to diversify its cash flow streams. Management was optimistic that the tight margin profile in the third quarter will generate additional M&A activity opportunities, as tight margins lead to production outages and cash flow issues with independent producers. Agribusiness (which posted softer than expected margin results in the fourth quarter) continues to be a focus for both operational improvement (to increase basic income) and capacity growth through acquisitions. The company’s goal of $50 million in non-ethanol related annual operating income is expected to come in part from streamlining Agribusiness as well as deploying corn oil extraction at all 9 plants.
Shares of the company went up by 1.82% to close at $12.29 after opening at $13.00 and trading with volume of 1.15 million shares. The 52-week range of the stock is $8.12-$16.96. The market capitalization of the stock stands at $439.75 million with total outstanding shares of 35.78 million.
Green Plains Renewable Energy, Inc. (Green Plains) is organized to construct and operate dry mill, fuel-grade ethanol production facilities.
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Telecom Italia S.p.A. (ADR) (NYSE:TI) Reports Mixed 4Q Results with Dividends Increase and Weak Domestic Trends
Telecom Italia S.p.A. (ADR) (NYSE:TI) reported better than expected headline fourth quarter results, with revenues and EBITDA ahead of Bloomberg consensus estimates driven by exceptional results at TIM Brazil (which already reported), and stronger than expected results from Teo in Argentina.
On Feb 24, Management announced a dividend increase to EUR 0.058 for the ordinary shares and EUR 0.069 for the savings shares. On Feb 25, the company gave the outline of its 2011-13 strategic plans and said that it expects dividend growth of 15% yearly to boost liquidity and slash debt over the next three years.
The Company reported fourth fiscal quarter net earnings of EUR 3.12 billion, up 97.4% or EUR 1.54 billion from EUR 1.58 billion in the same quarter last year.
Excluding nonrecurring items, the company earned EUR 31.47 billion, down EUR 2.48 billion from EUR 33.95 billion in the same quarter last year.
Revenue during the quarter rose 2.5% year over year to EUR 27.57 billion. Group revenues of EUR 7672 million grew 11% boosted by Argentina consolidation and group EBITDA of EUR 2937 million grew by 13%. Domestic revenues declined by 7.2% compared to decline of 7.5% in the third quarter driven by a wireline decline of 4.6% compared to decline of 2.9% in the third quarter and a wireless decline of 11% driven by a service revenue decline of 8.9% compared to third quarter decline of 9.9% and 12.9% decline one year ago. The accelerated revenue decline is driven by a decline in broadband revenues of 2.3% after 2.4% growth in the third quarter and a decline of wholesale revenues of 2.4% after 3.2% growth in the third quarter
Value Added service decline by 3% driven by a 3% decline in messaging and a 3.1% decline in interactive services. On the positive side, TIM added 386k subscribers during the quarter, a 0.5% increase year on year, and outgoing traffic volume increased by 20% compared to a 13% increase in the third quarter. Net debt at the end of the year was EUR 31.5 billion.
For the fourth fiscal quarter, TIM Brazil increased revenues by 9.9% in local currency and generated an EBITDA margin of 30.6%, better than during the fourth quarter of 2009. Argentina generated revenues of EUR 798 million, while reported EBITDA was EUR 245 million.
Shares of an Italy-based company, which offers infrastructures and technological platforms, on which voice and data become advanced telecommunications services went up by 70 cents or 4.87% to $15.07 after opening at $14.96. The stock has a 52-week range of $10.46-$15.66. The volume of 445,954 shares has been traded. The market capitalization of the stock stands at $29.04 billion with P/E of 9.13.
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