Financial Results and Tech Companies and ExactTarget and Technology

ExactTarget loss grows, but revenue hits record

February 22, 2013

Marketing software company ExactTarget Inc. took a greater loss in the fourth quarter due to higher expenses.

The Indianapolis-based company announced Thursday that it lost $13 million in the quarter ended Dec. 31 compared with a $6.1 million loss for the same period of 2011.

On a per-share basis, however, the loss dropped to 19 cents from 68 cents a year earlier because of a huge increase in common shares that hit the market after the company went public in March 2012.

Operating expenses, which include marketing, research and development, rose 48 percent in the quarter, to $65.8 million.

Revenue increased 42 percent to a record $84.2 million. For the year, revenue grew 41 percent, to $292.3 million.

"Our fourth quarter results were outstanding, putting an explanation point on a historic year for ExactTarget and further extending our market leadership," CEO Scott Dorsey said in a conference call.
  
ExactTarget late last year acquired B2B software provider Pardot and Indianapolis-based Web personalization provider iGoDigital.

For the year, ExactTarget lost $21 million, or 39 cents a share, compared with a 2011 loss of $35.4 million, or $4.05 per share.

During the fourth quarter, the company added offices in Paris and Stockholm.

The company now employs 1,673 people—most of them in Indianapolis—compared with 1,133 at the beginning of 2012.

ExactTarget shares rose 80 cents, or 3.5 percent, Friday morning, to $23.59 each.

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