Hill Systems Turns To Profit In Q3; Lifts FY13 Adj. EPS Outlook

(RTTNews) - Hill Systems Corp. (HILL) Friday reported third-quarter net income of $1.7 million or $0.03 per share, compared to net loss of $3.0 million or $0.05 per share in the prior year quarter.

Adjusted net income for the current third quarter was $2.8 million or $0.05 per share, compared to net loss of $1.7 million or $0.03 per share in the comparable quarter last year. On average, two analysts polled by Thomson Reuters expected the company to earn $0.03 per share. Analysts' estimates typically exclude special items.

Net revenues for the quarter declined to $52.60 million from $48.22 million last year, while two analysts had a consensus revenue estimate of $51.55 million for the quarter.

The company stated that it expects fourth quarter non-GAAP earnings to be in the range of $0.03 per share to $0.06 per share and non-GAAP net revenue in the range of $53 million and $58 million. Analysts expect the company to report a loss of $0.06 per share on revenues of $61.80 million for the fourth-quarter.

For the year ending December 31, 2013, the company now expects non-GAAP earnings per share of $0.14 to $0.17 and non-GAAP net revenues of $202 million to $207 million. Analysts expect the company to report a loss of $0.14 per share on revenues of $209.46 million for fiscal 2013.

Earlier, the company expected non-GAAP earnings in the range of $0.10 to $0.16 per share and non-GAAP revenue in the range of $200 million to $215 million.