Velti Posts Q4, 2012 Losses

The mobile market posts red numbers for its quarterly and annual bottom lines.

Eric Volkman
Eric Volkman
Mar 13, 2013 at 5:10PM
Technology and Telecom

Velti (OTC:VELTF) has reported losses in its Q4 and 2012 results. For the quarter, revenue totaled $97 million, up from the $87 million in the same period the previous year. Attributable net, however, plunged into the red at $5.2 million ($0.08 per diluted share) from Q4 2011's profit of $25.0 million ($0.40).

On an adjusted and diluted basis, the mobile marketer had a net profit of $0.39 for the period, against the previous year's Q4 EPS of $0.59.

The latest quarterly numbers were notably below analyst expectations of $106 million in revenue and a per-share profit of $0.59.

For the full year, top line was $270 million, nearly one-third higher than the 2011 figure of $189 million. But net loss was also much greater, landing at $56.4 million ($0.88 per diluted share) for the year against 2011's shortfall of $15.4 million ($0.28). Those EPS numbers on an adjusted basis were $0.34 for 2012 and $0.50 for the previous year.

Velti also provided guidance for its current quarter and fiscal year. For the former, the company expects revenue of $40 million-$44 million, significantly below the $63 million analysts had anticipated. The firm believes it will take in $255 million-$280 million, which also fell short of market expectations ($340 million).