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Lightbridge Announces Preliminary Fourth Quarter Results and Restructuring15 January 2006
Lightbridge, Inc. (NASDAQ: LTBG), a leading
transaction processing company, today announced preliminary revenue and
earnings per share for its fourth quarter of 2005.
Based on the Company's preliminary review, and subject to the completion of
customary quarterly closing review procedures by Lightbridge's management
and its independent registered public accounting firm, the Company:
-- Expects revenue to be in the $27.0 million to $27.5 million range,
compared to its previously released guidance of $25.5 to $27.0 million,
based primarily on a strong quarter at Authorize.Net.
-- Expects EPS to be in the $0.12 to $0.16 range, compared to its
previously released guidance of $0.06 to $0.10.
Lightbridge also announced a restructuring focused primarily within the
Telecom Decisioning Services (TDS) business, as well as reductions in
general and administrative expenses. The action reflects the Company's
continued commitment to align cost and revenue.
The restructuring consists of a total workforce reduction of about 28
positions, which represents about a 4% employee reduction, and is expected
to produce approximately $3.1 million to $3.6 million in annual pre-tax
savings commencing in the first quarter of 2006. The Company expects to
record a pre-tax restructuring charge of approximately $1.0 million to $1.5
million in the first quarter of 2006 associated with the workforce
reduction.
Fourth Quarter 2005 Financial Results: Webcast Information
Lightbridge expects to report its full fourth quarter and year end results
on Wednesday, January 25, 2006. The Company has scheduled a webcast and
conference call to discuss the results at 5:00 pm ET on January 25 and
invites the public to join by dialing 1-888-802-8576. Investors wishing to
listen to a webcast of the conference call should link to the "Investor
Relations" section of www.lightbridge.com at least 15 minutes prior to the
broadcast and follow the instructions provided to assure the necessary
audio applications are downloaded and installed. The call will be available
online at the Company's website for two weeks. The replay will be available
one hour after the call and can be accessed by dialing 877-519-4471. The
passcode number is 6898851. The replay will be available until February 8,
2006.
About Lightbridge
Lightbridge, Inc. (NASDAQ: LTBG) is a leading e-commerce, decisioning and
analytics company that businesses trust to manage customer transactions.
Lightbridge adds value to fraud screening, credit qualification and payment
authorization services. Lightbridge solutions leverage intelligent
automated systems and human expertise, delivered primarily through the
efficiencies and cost savings of an outsourced business model. Businesses
use Lightbridge to make smarter decisions, deliver better services, provide
secure payments, reduce costs and enhance the lifetime value of their
customers. For more information, visit www.lightbridge.com.
Note to Editors: LIGHTBRIDGE is a registered trademark and the Lightbridge
logo is a trademark of Lightbridge Inc. All other trademarks and registered
trademarks are the properties of their respective owners.
Forward-looking Statements
Certain statements in this news release that are not historical facts,
including, without limitation, those relating to the Company's estimated
preliminary results for the fourth quarter of 2005 and restructuring charge
are forward-looking statements that involve risks and uncertainties. Such
statements are based upon the current beliefs and expectations of the
management of the Company. Actual results may vary materially from those
contained in forward-looking statements based on a number of factors
including, without limitation, (i) dependence on a limited number of
clients, (ii) the Company's revenue concentration in the wireless
telecommunications business and the declining subscriber growth rate in
that business, (iii) continuing rapid change in the telecommunications
industry, payment processing industry, and other markets in which the
Company does business that may affect both the Company and its clients,
(iv) current and future economic conditions generally and particularly in
the telecommunications and payment processing industry, (v) uncertainties
about the Company's ability to execute on, and about the impact on the
Company's business and operations of, its objectives, plans or strategies
as a result of potential technological, market or competitive factors, (vi)
the impact of restructuring and other charges on the Company's business and
operations, (vii) integration, employee retention, recognition of cost and
other benefits and revenue synergies, and other risks associated with
acquisitions, (viii) the industry risks associated with Authorize.Net's
business and operations including, without limitation, illegal or improper
uses of Authorize.Net's payment system, unauthorized intrusions and attacks
on Authorize.Net's payment system that may impair the operation of its
payment systems, changes in or failures to comply with credit card
association rules, governmental regulation and the application of existing
laws to Authorize.Net's business and dependence on relationships with third
party payment processors, (ix) the factors disclosed in the Company's
filings with the U.S. Securities and Exchange Commission including, without
limitation, its 2004 Annual Report on Form 10-K and most recent Quarterly
Report on Form 10-Q. The Company undertakes no obligation to update any
forward-looking statements.
Contacts:
Lynn Ricci
Investor & Media Relations
Lightbridge, Inc.
781/359-4854
Email Contact
SOURCE: Lightbridge
Source: marketwire
All trademarks and copyrighted information contained herein are the property of their respective owners.
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