West Corp. Q3 Profit Plunges, Backs 2014 Outlook - Quick Facts

(RTTNews) - West Corp. (WSTC) reported third-quarter net income of $16.1 million or $0.19 per share, sharply lower than $46.1 million or $0.54 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter was $70.5 million or $0.82 per share, compared to $59.7 million or $0.70 per share in the year-ago quarter.

On average, 11 analysts polled by Thomson Reuters expected the company to earn $0.74 per share for the quarter. Analysts' estimates typically exclude special items.

Consolidated revenues for the quarter grew 7.2 percent from $713.2 million from $665.4 million in the same quarter last year. Analysts had a consensus revenue estimate of $704.06 million for the quarter. Organic revenue growth was 2.6 percent.

The company also announced a $0.225 per share quarterly dividend, payable on November 26, 2014 to shareholders of record as of the close of business on November 17, 2014.

Further, the company announced that it completed the acquisition of the assets of GroupCast, L.L.C. that operates under two brands, GroupCast and SchoolReach. The purchase price was about $13.5 million and was funded with cash on hand. SchoolReach will be combined with the company's SchoolMessenger business in the Unified Communication operating segment.

Looking ahead to fiscal 2014, the company continues to expects earnings the a range of $1.64 to $1.81 per share and adjusted earnings of $2.87 to $3.04 per share, on projected revenues between $2.775 and $2.820 billion.

Street is currently looking for full-year earnings of $2.95 per share on annual revenues of $2.80 billion.