PCLN After Hour Earnings Beat Expectations Big Drop Shares Recover
Date: 5/5/2011
PCLN After Hour Earnings Beat Expectations Big Drop Shares Recover
The Priceline Group said it was targeting the following for 2nd quarter 2011:
Year-over-year increase in total gross travel bookings of approximately 53% - 58%.
Year-over-year increase in international gross travel bookings of approximately 76% - 81% (an increase of approximately 53% - 58% on a local currency basis).
Year-over-year increase in domestic gross travel bookings of approximately 8% to 13%.
Year-over-year increase in revenue of approximately 36% to 41%.
Year-over-year increase in gross profit of approximately 57% to 62%.
Non-GAAP EBITDA of approximately $310 million to $320 million.
Non-GAAP net income of between $4.70 and $4.90 per diluted share.
Non-GAAP guidance for the 2nd quarter 2011:
excludes non-cash amortization expense of acquisition-related intangibles,
excludes non-cash stock-based compensation expense,
excludes non-cash interest expense and gains or losses on early debt extinguishment, if any, related to cash settled convertible debt,
excludes the impact, if any, of charges or benefits associated with judgments, rulings and/or settlements related to hotel occupancy tax proceedings,
excludes non-cash income tax expense and reflects the impact on income taxes of certain of the non-GAAP adjustments,