TrueCar Inc (NASDAQ:TRUE) announced its fourth-quarter results and full-year guidance after Thursday’s market close.
The IT and communication services company reported a net loss of $8.5 million for the period, or eight cents per share for the quarter, which was wider than the year-ago net loss of $8 million, or nine cents per share. Its full-year net loss was $32.8 million, or 35 cents per share, narrower than the fiscal 2016 net loss of $32.8 million, or 35 cents per share.
On an adjusted basis, TrueCar posted earnings of $4.9 million, or five cents per share for the quarter, topping the year-ago adjusted profit that came in at the break-even point. Its full-year adjusted earnings was $7.2 million, or eight cents per basic share and seven cents per diluted share, compared to the year-ago net loss of $11.1 million, or 13 cents per basic and diluted share.
Fourth-quarter total revenue was up 12% compared to the year-ago quarter, reaching $83.1 million and topping the Wall Street consensus estimate of $81.8 million. For its full year, TrueCar raked in $323.1 million, a 16% gain year-over-year.
For its first quarter of fiscal 2018, the company’s units are slated to be in the range of 230,000 units to 235,000 unites, while the revenue guidance calls for sales in the range of $80 million to $82 million. The company forecasts quarterly adjusted earnings in the range of $6 million to $7 million.
Its fiscal year 2018 units guidance is projected to be in the range of 1.03 million units to 1.05 million units, while the revenue outlook calls for $360 million to $365 million in sales. TrueCar sees its full-year adjusted earnings as being between $36 million to $40 million.
TRUE shares fell 6.8% after hours Thursday.