Active Network Q1 Revenue Grows 30 PercentMonday, May 7, 2012
Active Network, the San Diego based provider of online registration and technology services, reported a first quarter net loss of $20.2 million, compared with a net loss of $18.3 million in the first quarter of 2011, the company said May 3.
The company reported total revenue for the quarter of $94.4 million, up 30 percent from the like quarter of 2011.
CEO David Alberga said the quarter “was a fantastic start to 2012, with record revenue up 30 percent over the prior year period.” He noted the company renewed numerous partnerships and added new ones including New York State’s Department of Environmental Protection, the cities of Bellingham, Wash. and Wausau, Wis., and the city of San Diego Parks and Recreation Department.
For the second quarter, Active Network forecast revenue to finish in the range of $117 million to $121 million. The range for its expected net earnings is a net loss of $3 million to a net profit of $1 million.
For the full year, the company said the total revenue will range from $425 million to $435 million, and its net loss for the year will come in at $39 million to $30 million.
Shares of Active, traded under ACTV on the New York Stock Exchange, were down 74 cents to $15.26 at midday May 4, and have ranged from $12.30 to $19.99 over the past 52 weeks after the firm held its initial public offering about a year ago.