Dallas, Texas 05/013/2014 (FINANCIALSTRENDS) – Lionbridge Technologies, Inc. (NASDAQ:LIOX) released its first quarter 2014 financial results. The company reported first quarter 2014 revenue of $120.2 million, which is $6.5 million or 6% higher as compared to the revenue generated in the same quarter last year.
Lionbridge Technologies Beats Analyst Estimates
The company reported non-GAAP adjusted earnings of $4.8 million. EPS for the first quarter was pegged at $0.08, which is a full 8 cents higher than the analyst consensus estimate of $0.00.
The $120.2 million revenue for the quarter, while higher year-on-year, was still lower than the consensus estimate of $121.72 million.
The company’s revenue growth was apparently fueled by their Global Language and Content (GLC) segment, which grew 12% year-on-year due to ongoing marketing services growth related to large existing clients, and also because of new engagements with clients in the manufacturing and ecommerce sectors.
Statement by Lionbridge Technologies CEO Rory Cowan
Lionbridge Technologies CEO Rory Cowan said that, “As we begin the second quarter we are seeing strong revenue and earnings momentum. Our marketing offerings continue to scale, our new on Demand platform is ramping ahead of plan and we are growing our recurring revenue relationships with clients across diverse end markets.”
Guidance for Second Quarter and Full-Year 2014
Cowan added that the company continues to deliver strong year-on-year conversion of incremental revenues into profit. “With a positive demand environment and our highly-efficient online delivery models, we expect a positive second quarter and ongoing strength for the remainder of FY 2014,” added Cowan.
For the second quarter, Lionbridge Technologies expects to generate revenues in the range of $129-133 million. This falls within the $130.34 million in revenue for the second quarter as per the analyst consensus estimate. For the full-year 2014, the company reiterated that it expects revenue growth to be in the range of 5-10% year-on-year.