This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Limelight Rallies on Strong Report, Outlook

NEW YORK (TheStreet) -- Shares of Limelight Networks (LLNW) rose in after-hours action after the Tempe, Ariz.-based content delivery technology company posted strong results for the fourth quarter and gave a favorable top-line outlook for 2011.

The company, whose software applications such as LimeLight Deliver and LimeLight Reach enable streaming of content and advertising, reported a non-GAAP profit of $1.5 million, or a penny per share, on revenue of $55.2 million for the three months ended Dec. 31. The non-GAAP results exclude share-based compensation and acquisition-related expenses, among other items.



The average estimate of analysts polled by Thomson Reuters called for a breakeven quarter on a per share basis with revenue of $53. 3 million.

The stock was last quoted at $7.06, up 9.3%, on volume of more than 1.04 million, according to Nasdaq.com. Based on a regular session close of $6.46, the shares were already up almost 70% in the past year; although they had pulled back nearly 30% since hitting a 52-week high of $8.97 on Nov. 9.

For the current quarter, Limelight sees revenue of $48 million to $49.5 million. Wall Street's current consensus estimate is a loss of a penny per share in the March period on revenue of $48.2 million.

The company forecast revenue growth of 15% to 20% for fiscal 2011 from its total of $183.3 million in 2010. That view implies a range of $210.8 million to $220 million vs. the analysts average of $212.9 million, according to Thomson Reuters. The stock got walloped last week in sympathy with competitor Akamai Technologies (AKAM) after that company gave a lukewarm outlook for the start of 2011.

Limelight said its cloud-based and consulting services continued to grow in the latest quarter, where they represented 36% of total revenue. Revenue from its mobile business jumped 200% year-over-year, while site and application acceleration services grew 150% and online video platform growth came in at 110%.

"Limelight Networks' content delivery and cloud-based services have become embedded into the fabric of the Internet, which has, through computers, tablets, smartphones and Internet-connected televisions, become embedded into the fabric of our lives," said Jeff Lunsford, the company's chairman and CEO, in a statement. "We believe that our globally distributed, high-performance computing platform, and the solutions that run on it, are unique within the technology industry, positioning us well for continued growth and market share gains in 2011."

Stock quotes in this article: LLNW, AKAM 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,424.59 -0.26 -0.00%
S&P 500 1,867.56 +5.25 0.28%
NASDAQ 4,105.2850 +19.06 0.47%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs