said this afternoon that, based on preliminary results, the company expects to exceed its second-quarter revenue guidance of $25 million.
In January, Engage, a majority-owned operating company of
, said it
expected second-quarter revenue of $25 million and a loss, excluding noncash expenses and one-time charges, of $55 million, or 28 cents a share. Today, the company reaffirmed the bottom line guidance, saying it doesn't believe the loss will be wider than 28 cents a share.
Analysts polled by
First Call/Thomson Financial
expect the company, which is based in Andover, Mass., to lose 26 cents a share. The previous consensus estimate called for a loss of 24 cents.
Prior to its January revenue warning,
the Internet advertising company cut 550 jobs, or 50% of its workforce, in a bid to become profitable faster. Engage said it expects the job cuts to generate annualized improvements in operating margins and lead to cost reductions of $120 million to $150 million.
Engage will release its second-quarter results on March 12.
Shares of Engage closed at $1.75 in
trading today, but rose to $1.97 in after-hours