Boingo Wireless Q4 Profit Misses Estimates; Outlook Weak; To Buy Endeka

(RTTNews.com) - Boingo Wireless, Inc. ( WIFI ) reported net income for the fourth quarter $1.1 million, or $0.03 per share, compared to $1.9 million or $0.05 per share for the year-ago quarter.

Revenue for the fourth quarter rose 8% to $28.0 million from $25.9 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.06 per share on revenue of $27.48 million for the fourth quarter.

Looking forward to the first quarter, the company forecast revenue of $21.0 million to $23.0 million and a net loss of $1.5 million to $0.5 million, or a loss of $0.04 to $0.01 per share. Analysts currently expect the company to earn $0.07 per share on revenue of $27.92 million for the first quarter.

For the full year 2013, the company forecast revenue of $106.0 million to $110.0 million and net income of $1.0 million to $3.0 million, or $0.03 to $0.08 per share. Analysts currently expect the company to earn $0.31 per share on revenue of $121.67 million for the full year 2013.

Separately, Boingo Wireless said that it has signed a merger agreement to acquire Endeka, a provider of Wi-Fi, VoIP and IPTV services to military bases and federal law enforcement training facilities. Terms of the deal were not disclosed.

Boingo Wireless shares are losing 18.42% in after hours trading after closing the day's regular traing session at $7.98, down 7 cents.

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