In a statement, the Internet application specialist said that 2012 fiscal fourth-quarter revenue is expected to reach a record $21 million, more than double the prior year's quarter. This will bring Perion's total non-GAAP revenue for 2012 to $61 million, a 64% increase on the prior year. The $61 million figure also exceeds the firm's updated guidance of $55 million.
For fiscal 2013, Perion expects revenue to exceed $110 million.
Investors welcomed the numbers, pushing Perion shares up 18.31% to $11.18 before market open. The Israeli firm was also one of the most active premarket Nasdaq stocks on share volume of 174,470.Perion intends to report final 2012 financial results at the beginning of March. Apple (AAPL) was another premarket winner on Tuesday, rising 1.16% to $530 on share volume of 96,062. Social networking phenomenon Facebook (FB) was a more modest gainer, rising 0.47% to $29.56 on share volume of 226,746. Shares of satellite radio giant Sirius XM (SIRI), however, dipped 0.33% to $3.07 on share volume of 313,193, while Vodafone (VOD) fell 0.79% to $26.33 on share volume of 379,473. HP (HPQ), which announced a host of new products at CES on Monday, gained 0.26% to reach $15.21. Intel (INTC), which was also busy at CES, rose 0.24% to $21.30. Get the latest news coming out of CES with TheStreet's live blog: --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: firstname.lastname@example.org
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV