Active Network expects weak fourth-quarter revenue; shares plunge
(Reuters) - Active Network Inc ACTV.N, which makes software for event management and online registrations, reported third-quarter revenue below analysts' expectations and forecast a weak current quarter, sending its shares down 31 percent in extended trading.
The company forecast current-quarter revenue of between $93 million and $97 million, below analysts' estimates of $102 million, according to Thomson Reuters I/B/E/S.
Active's net loss for the third quarter widened to $6 million, or 10 cents per share, from $1.4 million, or 3 cents per share, a year earlier.
Excluding items, it earned 5 cents per share. Revenue rose 22 percent to $109.2 million.
Analysts on average expected earnings of 5 cents per share on revenue of $110.4 million.
Shares of the San Diego-based company were down $2.89 at $6.40 in aftermarket trading. The stock closed at $9.29 on Thursday on the New York Stock Exchange.
(Reporting by Supantha Mukherjee in Bangalore; Editing by Maju Samuel)
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