Quinstreet, Inc (QNST) Misses Q1 EPS by 3c; Will Implement Corp. Restructuring
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QuinStreet Reports Q1 Financial Results and Corporate Restructuring
November 9, 2016 4:35 PM ESTFOSTER CITY, Calif., Nov. 09, 2016 (GLOBE NEWSWIRE) -- QuinStreet, Inc. (Nasdaq: QNST), the leader in performance marketing products and technologies, today announced financial results for the first quarter ended September 30, 2016. The Company also announced a corporate restructuring and other steps to accelerate margin expansion, grow cash flow, and increase shareholder value.Â
The corporate restructuring will reduce fixed costs by approximately $17 million annually, including a reduction in personnel costs of approximately 25%. Benefits from the restructuring will begin to take effect in the December quarter. The Company also expects to incur... More
