Bankrate Reports 4Q and Full Year 2012 Financial Results [Professional Services Close – Up]
Proquest LLC |
In a release dated
Revenue for the full year ended
Net income for the quarter was
Adjusted EPS were
Adjusted EBITDA were
2013 Guidance
"In insurance, the strategic transition to higher quality, high- margin leads is moving even more aggressively forward --- and with our deep cuts of poor performing traffic behind us in Q4, is now on- track in many of our key criteria, such as agent sign ups and retention," said
Fourth Quarter and Full Year 2012 Financial Highlights
-Total revenue for the quarter was
-Adjusted EBITDA of
-Display advertising, or CPM revenue, in the fourth quarter was 18 percent higher compared to the same period last year. For the full year 2012, CPM product revenue was up 26 percent vs. the prior year.
-Hyperlink, or CPC revenue, for the quarter was 18 percent higher compared to the same period last year. Full year 2012 CPC revenue was up 65 percent vs. 2011.
-Lead generation revenue, which consists of CPA and CPL revenue, was 29 percent lower compared to the fourth quarter 2011. For the full year 2012, lead generation revenue was 5 percent lower vs. 2011. Marketing by credit card issuers on the Company's platform was significantly lower compared to historically high Q4 2011 and full year 2011 levels. In addition the Company continues to transition its insurance business to higher quality, higher converting volume and to reduce lesser converting lead sources. As a result, low agent termination rates in Q4 2012 led to a sequential increase in the number of purchasing agents in
-At the end of the fourth quarter, the company's leverage ratio was 0.9x on a net debt basis based on the company's trailing 12 month Adjusted EBITDA of
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