UPDATE 1-Solera Q4 loss narrows; sees 2009 earnings above Street
(Recasts; adds details)
Aug 27 (Reuters) - Solera Holdings Inc (SLH.N) posted better-than-expected quarterly results, helped by strong demand for its software from insurance companies and collision repair facility customers, and forecast 2009 earnings above market estimates.
The company, which provides software to the auto insurance industry, said net loss allocable to common stockholders was $21.6 million, or 33 cents per share, compared with a loss of $43.2 million, or 90 cents a share, a year ago.
Excluding items, the company earned 34 cents a share for the fourth quarter ended June 30. Revenue rose 19 percent to $145.5 million.
Analysts on average expected the company to earn 30 cents a share, before items, on revenue of $137.1 million, according to Reuters Estimates.
Revenue from insurance company customers rose 17 percent to $59.7 million, while that from its collision repair facility customers jumped 26 percent to $54.8 million.
For 2009, Solera expects adjusted earnings of $1.45 to $1.55 a share on revenue of $570 million to $580 million.
Analysts were expecting the company to earn $1.37 a share, before items, on revenue of $571.1 million.
Shares of the company closed at $27.60 Wednesday on the New York Stock Exchange. (Reporting by Purwa Naveen Raman in Bangalore; Editing by Deepak Kannan)
