(MarketingClick/Reuters)–Online advertising firm 24/7 Media revised its second-quarter guidance on Wednesday, forecasting a narrower-than-expected loss due to the sale of some of its units.
The company said that after the divestiture of its Sabela Media, Award Track and 24/7 Exactis businesses, it sees its second-quarter loss narrowing 20% from its first-quarter loss. It had earlier said it expected its quarterly loss improving by about 15% to 20% over the first quarter.
The company also said that it expects its revenues to fall below previous estimates to around $18 million to $21 million due to the sale of Exactis and Sabela. It had previously forecast revenues in the range of $22 million to $25 million.
Wall Street analysts polled by research firm Thomson Financial/First Call expected the company to post a loss of 50 cents per share.
The company also said that it was evaluating the additional divestiture of its broadband and professional services division and its European division to focus on its core products. 24/7 shares closed at 37 cents on the Nasdaq.
