bankrate inc (RATE) Key Developments
Bankrate, Inc. Announces Proposed Agreement to Settle Private Securities Class Action
Jun 9 14
Bankrate, Inc. announced that it has reached a proposed agreement, subject to court approval, to settle the private securities class action pending against the company and certain current and former officers of the company. Under the terms of the proposed settlement, Bankrate would pay a total of $18 million in cash to a settlement fund to resolve all claims asserted on behalf of investors who purchased or otherwise acquired Bankrate stock between June 16, 2011 and October 15, 2012. The proposed settlement further provides that Bankrate denies all claims of wrongdoing or liability. Bankrate's insurers are expected to fund at least a substantial portion of the settlement fund. If this proposed settlement is approved by the court, a notice to the class members will be sent with information regarding the allocation and distribution of the settlement fund and instructions on procedures to follow to make a claim on the settlement fund.
Bankrate, Inc. Presents at Bank of America Merrill Lynch 2014 Global Technology Conference, Jun-03-2014 01:20 PM
May 24 14
Bankrate, Inc. Presents at Bank of America Merrill Lynch 2014 Global Technology Conference, Jun-03-2014 01:20 PM. Venue: The Ritz-Carlton Hotel, 600 Stockton Street, San Francisco, California, United States. Speakers: Kenneth S. Esterow, Chief Executive Officer, President and Director.
Bankrate, Inc. Presents at Stephens 2014 Spring Investment Conference, Jun-04-2014 02:00 PM
May 8 14
Bankrate, Inc. Presents at Stephens 2014 Spring Investment Conference, Jun-04-2014 02:00 PM. Venue: The New York Palace Hotel, New York, New York, United States.
Bankrate, Inc. Announces Unaudited Consolidated Financial Results for the First Quarter Ended March 31, 2014; Provides Earnings Guidance for the Second Quarter of 2014; Revised Earnings Guidance for the Year of 2014
May 7 14
Bankrate, Inc. announced unaudited consolidated financial results for the first quarter ended March 31, 2014. For the quarter, the company reported revenue of $136.475 million against $108.448 million a year ago. Income from operations was $13.853 million against $10.543 million a year ago. Income before income taxes was $8.661 million against $4.008 million a year ago. Net income was $4.832 million or $0.05 per diluted share against $2.183 million or $0.02 per diluted share a year ago. Adjusted EBITDA was $36.046 million against $28.444 million a year ago. Adjusted net income was $17.428 million or $0.17 per share against $12.158 million or $0.12 per share a year ago. Adjusted income before tax was $28.571 million against $19.931 million a year ago.
The company is increasing its full year 2014 revenue guidance to a range of $540 to $550 million compared to the previous guidance range of $520 to $530 million. The company reaffirms its adjusted EBITDA guidance for 2014 between $145 and $150 million.
In addition, the company expects revenues for the second quarter of 2014 to be between $130 and $135 million and adjusted EBITDA between $32 and $34 million.
Bankrate, Inc., Annual General Meeting, Jun 18, 2014
Apr 30 14
Bankrate, Inc., Annual General Meeting, Jun 18, 2014., at 13:00 US Eastern Standard Time. Location: Marriott Singer Island, 3800 North Ocean Drive. Agenda: To elect as directors the 3 nominees named in the proxy statement that follows; to ratify the appointment of Grant Thornton LLP as independent registered public accounting firm for the current fiscal year; and to transact any other business as may properly come before the annual meeting, or at any adjournment or postponement of the meeting.