Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Velti Q4 Profit Rises

Velti plc (VELT: Quote) reported GAAP net income for the fourth quarter of $25.0 million or $0.40 per share, compared to $2.0 million or $0.05 per share for the year-ago quarter.

Excluding items, adjusted net income for the fourth quarter was $37.3 million or $0.59 per share, compared to $13.5 million or $0.34 per share in the prior year quarter.

Revenue for the fourth quarter rose 52% to $87.11 million from $57.49 million a year ago. Mobile advertising revenue increased 67% to $10.0 million, while Mobile marketing revenue surged 50% to $77.2 million.

Analysts polled by Thomson Reuters expected the company to earn $0.48 per share on revenue of $81.83 million for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward, the company forecast revenue of $44 million to $48 million for the first quarter and $280 million to $295 million for the full year 2012.

Analysts currently expect the company to post revenue of $44.97 million for the first quarter and $280.98 million for the full year 2012.

Augme Technologies, Inc. (AUGT.OB) said Monday that it has filed a patent infringement lawsuit in the United States District Court of Delaware against Velti USA, Inc.

Augme is asserting three causes of action involving patent infringement related to Augme-owned United States Patent No. 7,783,721, United States Patent No. 7,269,636 and United States Patent No. 6,594,691. Augme seeks injunctive relief to prevent defendant from continuing to infringe Augme's patents. In addition, Augme seeks a recovery of monetary damages resulting from defendant's past infringement of these patents and all legal fees associated with this patent enforcement effort.

Register
To receive FREE breaking news email alerts for Velti PLC and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
South Korea announced a $11.4 billion stimulus plan to stimulate the economy, which logged its slowest growth in more than a year on weak private spending. The finance ministry announced policy financing support for small businesses and to boost household income. The ministry increased the lending ceiling for businesses to $15 billion from $10 billion. European stocks are seen flat to slightly lower on Thursday amid a lack of cues to sustain two days of gains. Geopolitical concerns remain and the earnings season is picking up pace, rendering investor mood cautious. In economic releases, investors eye PMI reports from major European economies and... Social networking giant Facebook, Inc. said Wednesday after the markets closed that its second quarter profit more than doubled from last year, as revenue surged 61% amid strong growth in mobile advertising. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.