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ExactTarget Q1 Loss Widens

ExactTarget Inc. (ET) Thursday reported first-quarter net loss of $11.6 million or $0.17 per share, compared to $4.7 million or $0.32 per share last year.

Adjusted loss for the quarter was $5.8 million or $0.08 per share, compared to $2.2 million or $0.15 per share last year. On average, 11 analysts polled by Thomson Reuters expected a loss of $0.09 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter grew 39 percent to $88.9 million from $64.1 million last year. Total adjusted revenue for the quarter was $89.4 million. Analysts estimated revenues of $87.88 million for the quarter.

Looking forward to the second quarter, the company expects adjusted loss of $0.10 to $0.12 per share, and adjusted revenues of $91 million to $92 million. Analysts currently estimate earnings of $0.08 per share on revenues of $91.09 million for the quarter.

For the full year 2013, the company continues to expect loss of $0.29 to $0.31 per share. ExactTarget now expects adjusted revenues of $376.0 million to $379.0 million, up from prior guidance of $370.0 million to $374.0 million.

Analysts currently expect loss of $0.30 per share with revenues of $374.44 million for 2013.

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