UPDATE 1-Visual Sciences to review potential sale; cuts Q2 view
(Adds details, share movement)
July 12 (Reuters) - Visual Sciences Inc. VSCN.O, formerly known as WebSideStory Inc., said it had been approached by a number of strategic buyers for potential acquisition of the company, and lowered its second-quarter outlook partly due to lower license revenue.
The provider of real-time analytics applications said it has engaged Goldman Sachs & Co. as financial adviser to assist in evaluating a potential transaction.
For the second quarter, the company now sees earnings of about 11 cents to 12 cents a share, excluding certain items, on total revenue of about $19.5 million to $19.8 million.
Including items, it expects to post a loss of 1 cent to 2 cents a share for the quarter.
The company had previously expected earnings of 15 cents to 16 cents a share, excluding items, on revenue of $21.3 million to $21.9 million.
Analysts on average were expecting earnings of 16 cents a share, before items, on revenue of $21.7 million, according to Reuters Estimates.
The company said its license revenue was below expectations, due primarily to the timing of several larger license deals which pushed out of the second quarter.
"On the subscription side, bookings increased over the prior quarter, but were somewhat below our plan," Chief Executive Jim MacIntyre said in a statement.
Shares of the company rose more than 4 percent to $17.83 in afternoon trade on the Nasdaq. They had touched a year-high of $18.34 earlier. (Reporting by Shailesh Kuber in Bangalore)
