November 5, 2007 / 11:32 PM / 11 years ago

UPDATE 1-Limelight posts better-than-expected Q3 results

 (Adds details, company comments)
 Nov 5 (Reuters) - Internet content delivery company Limelight Networks Inc (LLNW.O) posted strong quarterly results, as it recognized some revenue earlier than expected, but forecast fourth-quarter revenue below analysts’ expectations.
 Shares of the company, which provides digital content for traditional and new media companies, fell $1.52 to $11 in late electronic trade after closing at $12.52 Monday on the Nasdaq.
 Limelight’s third-quarter loss was $3.1 million, or 4 cents a share, compared with a loss of $1.4 million, or 9 cents a share, a year ago. Revenue rose 66.9 percent to $29.2 million.
 Excluding items, Limelight, which went public in June this year, posted earnings of 3 cents a share.
 Analysts expected a loss of 9 cents a share, excluding items, on revenue of $26.6 million, according to Reuters Estimates.
 Tempe, Arizona-based Limelight benefited from $1.6 million of revenue that was originally slated for the fourth quarter, Chief Executive Jeff Lunsford said in a conference call with analysts.
 The company forecast revenue of $28 million to $30 million for the fourth quarter. Analysts were expecting $31 million.
 In August, Limelight expanded an online media distribution deal with Microsoft Corp (MSFT.O).  (Reporting by John Tilak in Bangalore)   

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below