First Free Story (1 of 3)Join Skift Pro
Online restaurant reservation service OpenTable Inc trimmed the upper end of its full-year revenue forecast, saying superstorm Sandy was likely to reduce fourth-quarter reservation revenue from North America.
Shares of the company fell as much as 5 percent in after-market trading on Thursday. They had closed at $47.36 on the Nasdaq.
The company, which helps users reserve tables at restaurants through its website and mobile apps, narrowed its full-year revenue forecast to between $160.2 million and $161.8 million from the previous range of $160 million to $164 million.
OpenTable’s revenue includes monthly subscription charges from restaurants and a fee for each guest seated through online reservation.
North American reservation revenue in the current quarter would be lower by about $500,000 due to the superstorm that interrupted operations at many of the company’s restaurant clients, it said.
The company however, raised the adjusted per-share earnings estimate for the full year to between $1.64 and $1.68 from $1.54 to $1.66. Third-quarter adjusted net income of 42 cents per share beat analysts’ average estimate of 36 cents per share.
Net income rose to $5.9 million, or 26 cents per share, from $4.1 million, or 17 cents per share, a year earlier.
OpenTable, founded in 1998 as a restaurant reservation service in San Francisco, said revenue rose 16 percent to $39.7 million. Analysts too expected $39.7 million, according to Thomson Reuters I/B/E/S.
Number of seated diners rose 26 percent during the quarter to 27.4 million.