ICG Group, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company’s revenue grew 34%, to $46.3 million, compared to $34.7 million in the corresponding 2012 period. Non-GAAP net loss was $2.8 million, or $0.08 per diluted share, as compared to $2.6 million, or $0.07 per diluted share, in the first quarter of 2012. GAAP net income attributable to the company was $19.1 million, or $0.52 per diluted share, compared to a net loss attributable to the company of $7.0 million, or $0.19 per diluted share, in the corresponding period of 2012. GAAP net income for the first quarter of 2013 included gains primarily related to the sales of Channel Intelligence and Investor Force. The company reported operating loss of $9.2 million compared to $3.8 million, loss before income taxes, equity loss and discontinued operations of $10.6 million compared to $3.4 million and net loss from continuing operations attributable to the company of $10.9 million or $0.30 per diluted share compared to $6.5 million or $0.18 per diluted share for the last year. The company deployed $1.1 million for capital expenditure. The company on track to achieve annual revenue and non-GAAP net income per share within guidance ranges. The company still expecting its total annual cash tax expense for 2013 to be approximately $1.5 million, so future quarters should be lower. The company expects cash flow from operations to build throughout 2013. The company said it is profitable, recurring revenue business with a 2013 revenue guidance range of $210 million to $220 million.

ICG Group, Inc. (NasdaqGS:ICGE) (ICG Group) seeks acquisitions in 2013. Kirk Morgan, Chief Financial Officer of ICG Group said, “Our profitability goal for 2013 is particularly notable given the significant investments we are making in growth initiatives such as sales and marketing. Our strong balance sheet allows us to support these initiatives and execute on our capital allocation focus of owning more of our companies, supporting accretive tuck-in acquisitions and share repurchases."

ICG Group, Inc., Q1 2013 Earnings Call, May 02, 2013