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Limelight Networks: 4Q Earnings Snapshot

LimelightOffice by David Brownley.jpg
Posted at 5:39 PM, Jan 30, 2019
and last updated 2019-01-30 19:39:03-05

TEMPE, Ariz. — Limelight Networks Inc. (LLNW) on Wednesday reported a loss of $5.2 million in its fourth quarter.

The Tempe, Arizona-based company said it had a loss of 5 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, were less than 1 cent on a per-share basis.

The average estimate of three analysts surveyed by Zacks Investment Research was also breakeven on a per-share basis.

The network services company posted revenue of $44 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $44.1 million.

For the year, the company reported net income of $9.8 million, or 8 cents per share, swinging to a profit in the period. Revenue was reported as $195.7 million.

Limelight Networks expects full-year earnings in the range of 10 cents to 20 cents per share, with revenue in the range of $215 million to $225 million.

In the final minutes of trading on Wednesday, the company’s shares hit $3. A year ago, they were trading at $4.35.