ICG Group Q2 Loss Widens; Backs FY13 Outlook

(RTTNews) - ICG Group, Inc. (ICGE) reported second-quarter GAAP net loss attributable to common shareholders of $6.9 million, or $0.19 per share, wider than $6.0 million, or $0.17 per share, in the same period last year.

Net loss from continuing operations widened to $7.0 million, or $0.19 per share, from $5.8 million, or $0.16 per share, in the year-ago period.

Adjusted loss for the quarter was $0.7 million, or $0.02 per share, compared to adjusted income of $2.3 million, or $0.06 per share, in the prior year quarter. On average, two analysts polled by Thomson Reuters expected the company to report a loss of $0.04 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue totaled $48.66 million, up 14% from $42.82 million last year. Analysts expected revenues of $48.70 million.

Looking ahead, the company is reiterating its fiscal year 2013 guidance of annual non-GAAP earnings in a range of $0.01 to $0.05 per share and revenues in the range of $210 million to $220 million. Analysts currently expect the company to report full-year loss of $0.01 per share, on revenues of $212.11 million.