* Fourth-quarter adjusted EPS $0.46 vs est $0.43
* Revenue up 16 pct at $43 mln vs est $42.5 mln
* Shares up 1 pct in after-market trading
By Chandni Doulatramani
Feb 7 U.S. online restaurant reservation service
provider OpenTable Inc reported quarterly results that
beat analysts' estimates, helped by an increase in the number of
seated diners, and the company expects mobile devices to drive
OpenTable, which now gets a third of its seated diners from
mobile bookings, expects more references from smartphones.
"There's a major, major shift to mobile taking place, and we
would expect that to continue," a company executive said on a
conference call with analysts.
The number of seated diners rose 22 percent to 32.8 million
in the fourth quarter from a year earlier.
PAA Research analyst Bradley Safalow said growth in seated
diners using mobile is still not enough.
The average revenue per seated diner has been flat
year-over-year for a couple of quarters as it was likely that
diners were booking seats using websites of restaurants rather
than using OpenTable's website or app, he said.
If a diner makes a reservation at a restaurant through the
OpenTable website or its app, the restaurant gets charged $1 per
diner. If a diner makes a reservation on the restaurant's
website and is directed to the OpenTable system, the restaurant
is charged only 25 cents per diner.
Net income rose 7 percent to $7.5 million, or 32 cents per
share, in the fourth quarter from a year earlier.
Excluding items, the company earned 46 cents per share, 3
cents above analysts' average estimates.
Revenue at the company, which helps users reserve tables at
restaurants through its website and mobile apps, increased 16
percent to $43 million, slightly above the average analyst
estimate of $42.5 million.
The revenue includes monthly subscription fees and a fee for
each restaurant guest seated through online reservation. The
company's revenue has now beaten analysts' estimates for three
Reservation revenue increased 21 percent to $24.5 million,
while subscription revenue climbed 10 percent to $14.5 million.
The company said in November it plans to increase its focus
on mobile devices and expects the integration of its app within
Siri -- the voice-control personal assistant in Apple Inc's
iPhone -- to help boost mobile reservations.
OpenTable expects first-quarter adjusted earnings in the
range of 39 cents to 44 cents per share on revenue of $44.7
million to $46.1 million.
Analysts were expecting adjusted earnings of 46 cents per
share on revenue of $45.8 million for the first quarter,
according to Thomson Reuters I/B/E/S.
OpenTable's shares, which have risen about 25 percent in the
last six months, were up 1 percent at $50.00 in extended
trading. They closed at $49.31 on the Nasdaq on Thursday.