ExactTarget sees bigger loss in first quarter

May 10, 2012

ExactTarget Inc. posted a $4.7 million net loss in the first quarter, its first as public company, the Indianapolis-based software firm announced Thursday after financial markets closed.

The company lost $3.3 million in the same quarter a year ago, but its loss narrowed on a per-share basis. The company lost 32 cents a share in the quarter ended March 31 compared to 38 cents in the first quarter of 2011.

ExactTarget's quarterly revenue rose 45 percent, to $64.1 million, from a year ago. Particularly strong were non-U.S. sales, rising 143 percent, to $10.9 million.  The company recently opened an office in Munich, Germany.

ExactTarget went public in March, raising $161 million. The company finished the quarter with $211 million in cash.

The company also reported Thursday that full-year 2012 revenue should come in between $270 million and $273 million.

The adjusted net loss for the year should be between $15 million and $16 million, ExactTarget said.

CEO and co-founder Scott Dorsey said the IPO has given ExactTarget the resources it needs to continue its expansion.

ExactTarget shares closed Thursday at $24.22 each, down slightly from the closing price of $25.11 on its first day of trading on March 22.


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