Velti Plc (VELT) Monday reported a wider loss in the first quarter of $156.4 million, or $2.38 per share, from $8.8 million, or $0.14 per share in the comparable quarter prior year, reflecting a surge in expenses from the year-ago quarter.
The company's total costs and expenses for the current quarter rose to $201.8 million from $66.7 million a year-ago, reflecting impairment charges of $133.1 million in the latest quarter.
On an adjusted basis, loss was $18.1 million, or $0.27 per share, compared with a loss of $1.1 million, or $0.02 per share in the same quarter of 2012.
Analysts polled by Thomson Reuters expected the company to lose $0.33 per share for the quarter. Analysts estimates typically exclude special items.
Meanwhile, revenue for the quarter totaled $41.00 million, down 21 percent from $51.79 million in the year-ago quarter. Analysts expected to see revenues of $42.14 million in the current quarter.
Looking forward to the second quarter, the company expects to record revenues between $42.0 million and $45.0 million, while Analysts expect the company to report revenues of $55.16 million for the quarter.
Looking ahead to the fiscal 2013, the company said it sees revenue to fare in lower than its original mid-point guidance of $267.5 million. Analysts expect the company to report revenues of $259.65 million for 2013.
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