March 18 (Reuters) - Digital image provider Jupitermedia Corp JUPM.O posted a fourth-quarter loss as it battles pressure from online discount stock photo providers.
Jupitermedia, which in its third quarter began a review to cut operating expenses, posted a fourth-quarter loss of $76.7 million, or 2.13 cents per share.
The company recorded a non-cash impairment charge of $2.13 a share related to the write-down of goodwill and intangible assets during the fourth quarter.
Jupitermedia managed to break even, excluding special items, according to Reuters data. Analysts expected a profit of 1 cent a share, according to Reuters Estimates.
The company posted revenue of $36.1 million, compared with $34.8 million a year ago. Analysts expected $35.4 million.
Revenue from its online images division fell about a percent to $26.8 million.
For the first quarter, Jupitermedia forecast earnings of 1 cent a share on revenue of $35 million to $36 million. Analysts were expecting earnings of 2 cents a share, before special items, on revenue of $35.5 million.
Jupitermedia shares closed at $2.86 Monday on Nasdaq. They have lost almost 66 percent of their value since touching a 52-week high of $8.38 in July last year.
Digital photography companies have seen competition in the royalty-free photography business from discount Web sites offering pictures.
Darien, Connecticut-based Jupitermedia’s competitors include Getty Images Inc GYI.N, which was bought for $2.1 billion last month, and Corbis, which is controlled by Microsoft Corp’s (MSFT.O) Bill Gates. (Reporting by Biswarup Gooptu in Bangalore; Editing by Himani Sarkar)