Shutterstock Q1 Profit Declines; Lifts FY14 Revenue Outlook - Quick Facts

(RTTNews) - Shutterstock Inc. (SSTK), a provider of commercial digital imagery, Thursday reported first-quarter net income available to common shareholders of $4.9 million or $0.14 per share, compared with $5.5 million or $0.16 per share last year.

Excluding items, adjusted earnings for the latest first quarter were $7.1 million or $0.20 per share, up from $6.1 million or $0.18 per share in the prior year period. On average, analysts polled by Thomson Reuters estimated earnings of $0.20 per share. Analysts' estimates typically exclude special items.

Revenues for the quarter were $72.78 million, up 42% from $51.12 million in the prior year, while seven analysts had a consensus revenue estimate of $69.72 million for the quarter.

Looking ahead to the second quarter, the company expects revenues of $76 million to $78 million, while analysts currently expect revenue of $74.41 million.

For fiscal year 2014, the company now expects revenues of $315 million to $320 million, up from its prior range of $305 million to $310 million. Analysts currently estimate revenues of $309.91 million for the year.