(RTTNews) - Friday, Audible, Inc.
(ADBL) reported fourth-quarter net income of $4.0 million, or $0.16 per share, compared to a net loss of $0.9 million, or $0.04 per share, reported in the fourth quarter of 2006. Net income included a non-operating benefit of $3.1 million from the sale of net operating loss tax credits in the state of New Jersey.
Adjusted EBITDA for the fourth quarter was $3.2 million, an increase of $2.6 million from adjusted EBITDA last year.
The company's quarterly net revenue was $31.1 million, up 35% over $23.2 million reported in the same quarter of 2006.
Analysts, on average, expected the company to report earnings of $0.02 per share on revenues of $29.08 million.
For the full-year, net income was $2.4 million, or $0.10 per share, compared to a net loss of $8.7 million, or $0.36 per share, in 2006. Revenue was $110.0 million, up 34% from the $82.0 million in 2006.
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