GOTO ($21-$23) EPS -8..11 Cent Narrower Loss,Beat Rev Consensus, Raises Q3 Guidance.Expects to be profitable next quarter.
Wednesday July 25, 4:45 pm Eastern Time
GoTo says Q2 loss narrows, sees Q3 profit
PASADENA, Calif., July 25 (Reuters) - GoTo.com Inc. (NasdaqNM:GOTO - news) said on Wednesday that its second-quarter net loss narrowed and the Internet search site forecast it would report a profit for the rest of the year.
Pasadena, Calif.-based GoTo reported a net loss of $2.9 million, or 6 cents per diluted share compared to a net loss of $20.3 million, or 42 cents per diluted share a year earlier.
GoTo reported revenues more than doubled to $62.5 million from $21 million a year earlier. The company said EBITDA, or earnings before interest, taxes, depreciation, amortization and other items, were break-even.
Looking ahead it sees third-quarter revenues of $64 million, fourth-quarter revenues of $70 million and full year revenues of $320 million.
The company said it sees third-quarter profit of 2 cents per share and expects to post a profit of 5 cents per share in its fourth quarter and a 2002 full-year profit of 31 cents per share. GoTo shares closed up $1.98, or more than 10 percent, at $21.15 at the end of Wednesday trade on the Nasdaq. |
