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Last $62.89 USD
Change Today +0.015 / 0.02%
Volume 769.0K
TRAK On Other Exchanges
Symbol
Exchange
NASDAQ GS
Frankfurt
As of 8:10 PM 08/27/15 All times are local (Market data is delayed by at least 15 minutes).

dealertrack technologies inc (TRAK) Key Developments

Dealertrack Technologies, Inc.(NasdaqGS:TRAK) dropped from NASDAQ Internet Index

Dealertrack Technologies, Inc. will be removed from NASDAQ Internet Index.

Dealertrack Technologies Faces Stockholder Complaint over Cox Automotive Deal

Jeremy Hoff, a purported stockholder of Dealertrack Technologies Inc., on July 6, 2015 filed a putative stockholder class-action complaint in the Court of Chancery of the State of Delaware against Dealertrack Technologies, its board members, Cox Automotive Inc. and its unit Runway Acquisition Co. The complaint alleges that, among other things, each board member breached fiduciary duties to Dealertrack Technologies stockholders in connection with the pending acquisition of the company by Cox Automotive and that Cox Automotive and unit Runway Acquisition aided and abetted those breaches. The suit seeks, among other things, declaration as a class action, an order enjoining the offer, the rescission of the offer if it has already been consummated or the award of rescissory damages, an accounting by defendants to plaintiff and other members of the class for all damages allegedly caused by them, and an award of the costs related to the action including attorneys and experts fees. Dealertrack Technologies and its board believe the allegations are without merit. The company said a negative outcome could have a material adverse effect if it leads to preliminary or permanent injunctive relief or rescission of the merger agreement.

Dealertrack Technologies, Inc. to Amend the Amended and Restated By-Laws

Dealertrack Technologies, Inc. to amend the Amended and Restated By-laws of the company and by resolution, the company board authorized, approved and adopted an amendment to the bylaws. The Bylaw Amendment became effective on June 11, 2015.

Dealertrack Technologies, Inc. Presents at Evercore ISI 2nd Annual Industry Cloud Symposium, Jun-04-2015 01:30 PM

Dealertrack Technologies, Inc. Presents at Evercore ISI 2nd Annual Industry Cloud Symposium, Jun-04-2015 01:30 PM. Venue: Omni Berkshire Place, New York, New York, United States.

Dealertrack Technologies, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Revises Earnings Guidance for the Year Ending December 31, 2015

Dealertrack Technologies, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net revenue of $252,754,000 compared to $158,808,000 a year ago. Loss from operations was $18,439,000 compared to $22,633,000 a year ago. Loss before benefit from income taxes, net was $31,508,000 compared to $16,281,000 a year ago. Net loss was $22,728,000 or $0.42 per basic and diluted share compared to $11,642,000 or $0.25 per basic and diluted share a year ago. Adjusted EBITDA (non-GAAP) was $39,815,000 compared to $30,514,000 a year ago. Adjusted net income (non-GAAP) was $10,318,000 compared to $11,487,000 a year ago. Diluted adjusted net income per share (non-GAAP) was $0.19 compared to $0.23 a year ago. Net cash used in operating activities was $23,246,000 compared to $92,864,000 a year ago. Capital expenditures in the quarter were approximately $29 million, which included $11 million of internally developed software. EBITDA (non-GAAP) was $17,146,000 compared to $20,820,000 a year ago. The company revised earnings guidance for the year ending December 31, 2015. For the year, revenue is expected to be between $1,085 million and $1,105 million, an increase at the mid-point of the range from prior guidance of between $1,080 million and $1,100 million. GAAP net loss for the year is expected to be between $25.0 million and $21.0 million, a change at the mid-point of the range from prior guidance of between $20.0 million and $17.0 million. Diluted GAAP net loss per share for the year is expected to be between $0.45 and $0.38, a change at the mid-point of the range from prior guidance of between $0.34 and $0.29 per share. Adjusted EBITDA for the year is expected to be between $222.0 million and $227.0 million, an increase at the mid-point of the range from prior guidance of between $220.0 million and $225.0 million. Adjusted net income for the year is expected to be between $80.0 million and $85.0 million, no change from prior guidance. Diluted adjusted net income per share for the year is expected to be between $1.40 and $1.49, an increase at the mid-point of the range from prior guidance of $1.39 and $1.48 per share. Total capital expenditures for the year are still expected to be between $96 million and $100 million, inclusive of incadea, of which approximately half will likely be internally developed software. The company's guidance for the full year assumes an effective tax rate of approximately 28% for GAAP results.

 

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