New Frontier Media
fell 6% after missing its fourth-quarter revenue target and offering soft guidance for the current year.
The Boulder, Colo., adult video outfit made $3.3 million, or 14 cents a share, for the quarter ended March 31. That compared with a year-ago profit of $2.4 million, or 10 cents per share. Revenue rose 19% from a year ago to $12.9 million.
Analysts surveyed by Thomson Financial had expected the company to earn 13 cents per share on $13.7 million in revenue.
"With the recent launch of our two linear services on the largest DBS platform in the U.S., we now reach over 120 million network households, making us the most widely distributed brand of adult entertainment in the country," said Chief Executive Michael Weiner, in a statement.
The company expects to make 32 to 37 cents a share for the coming year on revenue of $56.5 million to $58.5 million. Two analysts were looking for a 64-cent profit on $67.3 million in revenue.
On Tuesday shares of New Frontier Media dropped 48 cents to $8.20.