Carbonite stock falters on secondary offering following strong outlook [MarketWatch]
CARBONITE (CARB)
Last carbonite earnings: 11/11 08:00 am
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investor.carbonite.com/investor-relations
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Source: MarketWatch
Carbonite stock falters on secondary offering following strong outlook Carbonite Inc. CARB, -0.13% shares declined in the extended session Monday after the cloud-storage company released preliminary results that topped Wall Street estimates but also announced a secondary offering of shares. Carbonite shares fell 6.3% after hours, following an initial 4% rise on the preliminary results, and had closed down 0.1% at $38.40. Carbonite said it was offering 4 million shares of stock, with an additional 678,000 shares for underwriters to cover overallotments, with proceeds going to help pay down debt. Also, Carbonite said that co-founder David Friend was selling about 520,000 shares, of which the company will not receive proceeds. Carbonite has about 29 million shares outstanding. The company reported preliminary second-quarter adjusted net income of 41 cents to 44 cents a share on revenue of $77.3 million to $78 million. Analysts surveyed by FactSet had estimated 36 cents a share on reve
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