Reuters: Global Markets: Bankrate warns of weak 2013; shares slide

Reuters: Global Markets Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Bankrate warns of weak 2013; shares slide Feb 12th 2013, 22:13 Tue Feb 12, 2013 5:13pm EST (Reuters) - Bankrate Inc (RATE.N), which operates personal finance websites, reported a lower-than-expected fourth-quarter profit and forecast 2013 revenue significantly below analysts' estimates. The company's shares fell 23 percent in extended trading, after closing at $12.38 on the New York Stock Exchange on Tuesday. Bankrate expects 2013 revenue to be relatively unchanged from last year. The company reported revenue of $457.2 million in 2012. Analysts on average were expecting 2013 revenue of $498.5 million, according to Thomson Reuters I/B/E/S. Net income fell to $300,000, or break-even profit, for the fourth quarter, from $14 million, or 14 cents per share, a year earlier. Excluding items, earnings were 6 cents per share. Revenue fell 18 percent to $93.2 million. Analysts on average expected earnings of 11 cents per share on revenue of $106.3 million.

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