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CPI Card Group lowers FY'17 guidance

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CPI Card Group lowers FY'17 guidance

CPI Card Group Inc. lowered its guidance for the full year 2017, now expecting to see GAAP loss per share between 15 cents and 6 cents and adjusted EPS between a loss of 3 cents and a gain of 6 cents.

The S&P Capital IQ consensus normalized EPS estimate for 2017 is 36 cents.

Previously, the company expected to see GAAP EPS of between 22 cents and 32 cents and adjusted EPS of 35 cents to 46 cents for the year.

Adjusted EBITDA for the year is now projected to be $32 million to $40 million, compared with the previous range of $64 million to $73 million.

The company declared a second-quarter net loss of $2.2 million, or a loss of 4 cents per share, compared with a net loss of $328,000, or a loss of 1 cent per share, a year earlier.

The adjusted net income for the quarter was about $15,000, or 0 cents per share, compared with an adjusted net income of $2.6 million, or 5 cents per share, in the year-prior period.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was 3 cents.