NEW YORK (TheStreet) -- Shares of LiveDeal (LIVE) were gaining 13% to $2.88 on heavy trading volume Friday after the mobile marketing company announced that it expects to report record revenue and earnings growth in fiscal year 2015.
The company said it expects a "significant increase in sales revenue" by the end of the fiscal year due to the expansion into online sales of consumer products and the continued growth of its ModernEveryday subsidiary.
"We are enthusiastic about how quickly LiveDeal continues to grow from being strictly a restaurant deal site to a national distributor of consumer products," CEO Jon Isaac said in a statement. "Our hard work is paying off in terms of revenue generation and growth, and we anticipate that our future results will continue to surpass our prior years' revenues, while maintaining our dedication to providing both consumer and shareholder value."
About 1.7 million shares of LiveDeal were traded by 10:21 a.m. Friday, above the company's average trading volume of about 192,000 shares a day.
TheStreet Ratings team rates LIVEDEAL INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate LIVEDEAL INC (LIVE) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, generally disappointing historical performance in the stock itself and deteriorating net income."