Active Network Reports Revenue Growth, $2.3M LossMonday, August 6, 2012
The Active Network Inc., the San Diego provider of online event registration and other technology services, reported a second quarter net loss of $2.3 million, compared with net income of $5.5 million in the like quarter of last year.
Revenue for the company that went public last year was $121.6 million, up 23 percent from the prior year’s second quarter.
Adjusted earnings that excluded the impact of business combination accounting rules were $23.8 million, compared with adjusted earnings of $20.6 million in the like quarter of 2011.
CEO Dave Alberga said Active added some key customers in the past quarter including Aetna, MacWorld and Edinburgh University Sports Union.
For the third quarter, Active said it expects revenue to come in at $108 million to $111 million, and its net loss to range from $4 million to $8 million.
For the full year, Active said it expects total revenue to finish between $425 million and $430 million, and its net loss in the range of $31 million to $38 million.
Shares of Active, traded on the New York Stock Exchange under ACTV, fell $2.45 in midday Aug. 3 trading to $11.50. Its 52-week range is $12.18 to $17.74.