Internet advertising company ReachLocal Inc. broadened its net loss in the second quarter, the company announced Wednesday.
The Woodland Hills company reported a net loss of $10.3 million (-36 cents a share), compared with a loss of $141,000 (0 cents) in the same period a year earlier. Revenue dropped 3 percent to $124 million
Analysts on average expected net loss of -41 cents a share on revenue of $123 million, according to Thomson Financial Network.
Chief Executive Sharon Rowlands said ReachLocal will move aggressively in the second half of the year to enhance the business and invest in accelerated product development and sales training.
Shares closed up 14 cents, or just more than 2 percent, to $6.40 on the Nasdaq.
Digital marketing company Conversant reported on Wednesday that investments in products and technology led to strong earnings in the second quarter.
The Westlake Village firm reported net income of $17.7 million (26 cents a share), compared with $11.9 million (15 cents) in the same period a year earlier. Revenue increased 7 percent to $137 million.
Analysts on average expected net income of 35 cents a share on revenue of $138 million, according to Thomson Financial Network.
Chief Executive John Giuliani said a stock repurchase program during the second quarter brought strong returns to shareholders.
“Today's announcement of a $150 million increase in our stock repurchase program underscores our confidence in our strategy and Conversant’s future as a leader in personalized digital marketing,” Giuliani said in a prepared statement.
Shares closed down 70 cents, or nearly 3 percent, to $24.39 on the Nasdaq.
New product sales contributed about half of the revenue in the third quarter for Vitesse Semiconductor Corp. and outstripped declines in its legacy products business, the company said Tuesday.
The Camarillo integrated circuit manufacturer reported a net loss of $4.4 million (-7 cents a share) compared with a loss of $6.4 million (-17 cents) in the same period a year earlier. Revenue increased 3 percent to $27.2 million.
Chief Executive Chris Gardner attributed the revenue growth to new products bringing in more sales than those for legacy products.
“Vitesse now has the infrastructure and the resources to support a much larger base of customers,” Gardner said in a prepared statement.
Shares closed down 1 cent, or a fraction of 1 percent, to $3.03 on the Nasdaq.