Benzinga | Nov 5, 2020 04:35PM EST

Stamps.com Raises FY20 Adj. EPS Guidance From $6.25-$9.25 To $10.35-$11.35 vs $8.10 Est., Raises Sales Guidance From $650M-$725M To $705M-$735M vs $718.25M Est.

Summary of our Business Outlook

For fiscal year 2020, the Company currently expects its GAAP financial outlook to be as follows:

* We expect total revenue to be in a range of approximately $705 million to $735 million; this compares to previous guidance of $650 million to $725 million.

* We expect GAAP net income to be in a range of approximately $140 million to $157 million; this compares to previous guidance of $79 million to $122 million.

* We expect GAAP net income per fully diluted share to be in a range of approximately $7.30 to $8.27; this compares to previous guidance of $3.93 to $6.70.

* We expect our 2020 effective tax rate to be approximately 12%; this compares to previous guidance of 28%.

The above GAAP amounts, adjusted as detailed below, result in the following non-GAAP financial outlook:

* We expect non-GAAP adjusted EBITDA to be in a range of approximately $230 million to $250 million; this compares to previous guidance of $180 million to $240 million.

* We expect non-GAAP adjusted income per fully diluted share to be in a range of approximately $10.35 to $11.35; this compares to previous guidance of $6.25 to $9.25.