Last $13.97 USD
Change Today -0.13 / -0.92%
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As of 9:48 AM 08/28/14 All times are local (Market data is delayed by at least 15 minutes).

borderfree inc (BRDR) Key Developments

Borderfree, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Third Quarter and Full Year of 2014

Borderfree, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenues of $30.964 million compared to $25.583 million a year ago. Loss from operations was $0.752 million compared to $0.955 million a year ago. Loss before income taxes was $0.559 million compared to $0.767 million a year ago. Net loss was $0.663 million or $0.02 per basic and diluted share compared to $0.814 million or $0.20 per basic and diluted share a year ago. Non-GAAP net income was $0.315 million or $0.01 per basic and diluted share compared to non GAAP net loss of $0.468 million or $0.11 per basic and diluted share a year ago. Adjusted EBITDA was $1.335 million compared to $0.147 million a year ago. Basic and diluted non-GAAP proforma net income per share was $0.01 compared to basic and diluted non-GAAP proforma net loss per share $0.02 a year ago. Basic and diluted GAAP proforma net loss per share was $0.02 compared to $0.03 a year ago. For the six months, the company reported revenues of $57.478 million compared to $51.355 million a year ago. Loss from operations was $1.914 million compared to $0.717 million a year ago. Loss before income taxes was $2.547 million compared to $0.366 million a year ago. Net loss was $2.704 million or $0.14 per basic and diluted share compared to $0.453 million or $0.11 per basic and diluted share a year ago. Net cash used in operating activities was $4.579 million compared to net cash provided by operating activities of $7.384 million a year ago. Purchase of property and equipment was $0.864 million compared to $0.512 million a year ago. Non-GAAP net income was $0.250 million or $0.01 per basic and diluted share compared to non GAAP net loss of $0.142 million or $0.04 per basic and diluted share a year ago. Adjusted EBITDA was $2.073 million compared to $1.059 million a year ago. Basic and diluted non-GAAP proforma net income per share was $0.01 compared to basic and diluted non-GAAP proforma net loss per share $0.01 a year ago. Basic and diluted GAAP proforma net loss per share was $0.09 compared to $0.02 a year ago. For the third quarter of 2014, the company expects revenue of $31.1 million to $31.9 million. Adjusted EBITDA of $0.6 million to $0.9 million. Non-GAAP net loss of $0.4 million to $0.6 million or $0.01 to $0.02 per share For the full year of 2014, the company expects revenue in the range of $139.0 million to $141.0 million. Adjusted EBITDA in the range of $8.9 million to $9.7 million. Non-GAAP net income in the range of $4.6 million to $5.4 million or $0.15 to $0.18 per basic share and $0.14 to $0.16 per diluted share.

Borderfree, Inc. Presents at 16th Annual Pacific Crest Global Technology Leadership Forum, Aug-12-2014 08:30 AM

Borderfree, Inc. Presents at 16th Annual Pacific Crest Global Technology Leadership Forum, Aug-12-2014 08:30 AM. Venue: The Sonnenalp Hotel, 20 Vail Road, Vail, CO 81657, United States. Speakers: Edward A. Neumann, Chief Financial Officer, Michael A. DeSimone, Chief Executive Officer and Director.

Borderfree, Inc. Enters into Second Amendment and Restatement Loan and Security Agreement with Silicon Valley Bank

On July 24, 2014, Borderfree, Inc. entered into a Second Amended and Restated Loan and Security Agreement with Silicon Valley Bank. Pursuant to the Amended Loan and Security Agreement, SVB is providing the company with a 2 year revolving line of credit in the amount of $12,000,000 and a three month seasonal line of credit in the maximum amount of $6,000,000. The term of the Seasonal Line runs from November 15, 2014 to January 15, 2015. The Line of Credit and Seasonal Line bear interest at a floating rate equal to the Wall Street Journal Prime Rate, which is currently 3.25% per annum. Interest payments are due monthly with the principal due at maturity. The company's obligations under the Line of Credit and the Seasonal Line are secured by a first priority lien in favor of SVB on substantially all assets of the Company other than the Company's intellectual property.

Borderfree, Inc. Presents at 2014 Needham Interconnect Conference, Aug-06-2014 09:30 AM

Borderfree, Inc. Presents at 2014 Needham Interconnect Conference, Aug-06-2014 09:30 AM. Venue: The Westin Grand Central Hotel, New York, New York, United States. Speakers: Edward A. Neumann, Chief Financial Officer, Michael A. DeSimone, Chief Executive Officer and Director.

Borderfree, Inc. to Report Q2, 2014 Results on Aug 04, 2014

Borderfree, Inc. announced that they will report Q2, 2014 results After-Market on Aug 04, 2014

 

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