Shares of international information technology logistics company Amber Road (NYSE:AMBR) fell as much as 18.4% on Friday after the company reported fourth-quarter results and provided guidance for its first quarter. Shares are trading about 16.6% lower at the time of this writing.
For its fourth quarter, Amber Road, a leading provider of global trade management solutions, said it lost $0.17 per share, or a loss of $0.10 on an adjusted basis, on $19.2 million of revenue.
"The fourth quarter capped off a very strong 2016 for Amber Road," said Amber Road CEO Jim Preuninger. "I am very pleased with our ability to deliver on our key goals in 2016 to improve bookings, restore subscription growth rates, cut the cash burn, and put us on a path toward profitability."
Fourth-quarter revenue exceeded a consensus analyst estimate for $18.7 million, and the company's adjusted $0.10 loss was in line with expectations.
But the stock may be getting hammered on Friday because of the company's worse-than-expected guidance. Management said it expected first-quarter revenue and adjusted EPS to be in the range of $18.2 million to $18.8 million and a loss of $0.15 to a loss of $0.12, respectively. On average, analysts were expecting an adjusted loss per share of $0.10 on revenue of $19.3 million.
Preuninger said the company is on a path to profitability thanks to a combination of better execution, more offerings, and an environment that will create demand for its products.
We enter 2017 with stronger go-to-market teams, an expanded portfolio of offerings to automate more areas of global trade for customers, and an increasingly complex global trade environment which requires our technology and content, and believe we can drive healthy results for the Company as we take further steps on our path toward profitability.