PlanetOut Guides Lower on Quarter

PlanetOut (LGBT Quote) swung to a first-quarter loss and guided lower on revenue for the second quarter.

The media company lost $132,000, or a penny a share, in the quarter ended March 31, reversing the year-ago profit of $179,000, or a penny a share. The company lost less than a penny a share on a so-called adjusted basis, excluding certain costs. Revenue more than doubled to $17.6 million from $6.7 million a year ago.

Analysts surveyed by Thomson Financial were looking for a profit of less than a penny a share on revenue of $16 million.

"The first quarter was the beginning of what we believe will be a strong year for PlanetOut as we grew the organic business and began to integrate the LPI and RSVP acquisitions," said operating chief Jeff Soukup. "As a result, we are a much larger company with diversified revenue streams, deeper and broader market penetration, and expanded marketing platforms, which we believe together serve as the foundation for growing shareholder value."

For the second quarter, PlanetOut expects a small profit on sales of $16 million or so. Analysts were looking for a profit of 4 cents a share on revenue of $17.4 million. PlanetOut said it expects to make $4.25 million or so for the year on revenue of $73 million.