Speed Commerce (SPDC) Posts Q4 GAAP Loss of 48c/Share

Speed Commerce (NASDAQ: SPDC) reported Q4 EPS of ($0.48), which may not compare with the analyst estimate of ($0.01). Revenue for the quarter came in at $36.6 million versus the consensus estimate of $37.55 million.

The fourth quarter of fiscal 2015 included $12.7 million in deferred cost and accrual write-offs for anticipated losses on web development projects. In addition, as part of the Company's annual goodwill and intangible asset impairment assessment, it concluded that indicators of potential impairment were present due to sustained declines in the company's stock price. As such, an $18.8 million impairment charge for goodwill and intangible assets was recorded.

Speed Commerce reaffirmed FY2016 guidance.

For earnings history and earnings-related data on Speed Commerce (SPDC) click here.

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