Key Developments For Intersections Inc
Intersections Inc (INTX.O) (Consolidated Issue listed on NASDAQ Global Market)
Intersections Inc. Reaffirms FY 2008 Revenue And EPS Guidance; Updates FY 2008 EBITDA Guidance-Conference Call
Intersections Inc. reaffirmed its fiscal 2008 revenue guidance of $365 million or better. The Company expects EBITDA before share-based compensation to be about $45 million and expects earnings per share (EPS) to be about $0.68.
Intersections Inc. Raises FY 2008 Revenue Outlook; Reiterates FY 2008 Earnings Outlook-Conference Call
Intersections Inc. raised its fiscal 2008 revenue outlook and expects revenues to exceed the guidance of $365 million. It also reiterated fiscal 2008 outlook and expects EBITDA to remain around $47 million and EPS of $0.68. The Company cited due to the increased testing, marketing and expenses related to product development and e-commerce and increased bounty expenses as the primary reason for positive outlook.
Intersections Inc. Issues FY 2008 Outlook
Intersections Inc. announced that for fiscal 2008, it expects revenue to exceed $365 million, EBITDA to exceed $47 million and EPS to exceed $0.68.
Intersections Inc. Raises FY 2008 Revenue Guidance; Reaffirms FY 2008 Earning Guidance-Conference Call
Intersections Inc raised fiscal 2008 revenue guidance by $6 million to $356 million and reaffirmed EBITDA greater than $45 million and earnings per share at greater than $0.60.
Intersections Inc. Announces Completion Of Acquisition Of Assets From Citibank (South Dakota)-Form 8-K
Intersections Inc. reported in its Form 8-K on February 1, 2008, that it entered into, and consummated the closing under, a Membership Purchase dated January 31, 2008 by and between the Company and Citibank (South Dakota), N.A.. Under the Membership Purchase Agreement, the Company acquired substantially all of the membership agreements between Citibank (South Dakota) and consumer customers relating to the membership program Citibank (South Dakota) offers, and the Company provides, under the name 'Citi Credit Monitoring Service'. An immaterial number of membership agreements were retained by Citibank, which the Company expects to be terminated or transferred by Citibank to another Company service. The aggregate purchase paid by the Company in connection with the closing of the acquisition, which was based on the estimated number of acquired membership agreements as of the closing date, was $30,801,600.00. The purchase price may be increased or decreased to the extent that the number of acquired membership agreements as of the closing date are finally determined to be greater than or less than, respectively, the estimated amount. In addition, the Company retained a portion of the purchase price otherwise payable at closing in an amount equal to $750,000 as security for the attrition of acquired membership agreements in excess of specified levels that occurs during the 180 days following the closing.
