Carbonite: Preliminary 2FQ18 Financial Results

Carbonite, Inc. announced preliminary financial results for the second quarter ended June 30, 2018 and business outlook for the full year of 2018.

Second Quarter 2018 Preliminary Results:
While Carbonite’s normal financial closing and financial statement preparation process is in its preliminary stages, the company currently expects the the following preliminary financial results for the second quarter ended June 30, 2018:

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1 Non-GAAP revenue excludes the impact of purchase accounting adjustments for acquisitions. A reconciliation to the corresponding GAAP measure is attached hereto.
2 Non-GAAP net income per share excludes the impact of purchase accounting adjustments on acquired deferred revenue, amortization expense on intangible assets, stock-based compensation expense, litigation-related expense, restructuring-related expense, acquisition-related expense, non-cash convertible debt interest expense and the income tax effect of non-GAAP adjustments. A reconciliation to the corresponding GAAP measure is attached hereto.

Carbonite’s expectations of second quarter results for non-GAAP revenue and non-GAAP net income per share are driven by strong sales of subscription-based offerings, better than expected results associated with the integration of Mozy, and a continued focus on cost management.

The company currently expects that its final second quarter results will be within the ranges described above. It is possible, however, that the company’s final second quarter results will not be within the ranges it currently estimates. The company’s independent registered public accounting firm has not completed their review of the company’s results for the second quarter ended June 30, 2018.

These estimated ranges and drivers of second quarter financial performance represent the most current information available to management and are not meant to be a comprehensive statement of firm’s financial results for the quarter ended June 30, 2018. As such, the expectations above are subject to change.
 
Business Outlook:
Based on the information available as of July 16, 2018, Carbonite expects the following for the full year of 2018:

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