Sterling Company's Shares Tumble on Forecast
Article Tools
Share This +
Thursday, May 8, 2008
Shares of Sterling-based NeuStar Inc. tumbled Thursday after the provider of clearinghouse services for communications companies lowered its 2008 revenue forecast and gave a weak profit outlook for the year.
For the quarter ended March 31, NeuStar posted a loss of $4.5 million, or 6 cents per share, compared with a profit of $18 million, or 23 cents per share, for the same quarter in 2007.
The recent quarter's loss resulted from a noncash goodwill-impairment charge of $29 million related to the company's Next Generation Messaging business.
Excluding the charge, NeuStar said it posted an adjusted profit of $24.6 million, or 31 cents per share, for the quarter.
Total revenue rose 21 percent to $117.4 million from $97.4 million in the year-ago period.
NeuStar Headquarters
NeuStar attributed the sales growth to increases in infrastructure transactions under its contracts to provide telephone number portability services in the United States.
NeuStar forecast 2008 revenue of $500 million to $515 million, compared with a previous forecast of more than $515 million.
Shares fell $4.41, or more than 15 percent, to $23.94 in trading Thursday.
The company's headquarters is at 46000 Center Oak Plaza, near the intersection of Route 7 and Cascades Parkway, in Sterling.
Tagged: business, business_news
Deal of the Day
$25 Off House Cleaning From Maid To Please!
Maid To Please is offering LoudounExtra.com readers $25 off their first house cleaning, or $10 their third house cleaning.
• View all deals from Maid To Please | All deals
Latest Deal
• $25 Off House Cleaning From Maid To Please! posted: 4/28/09
|
Search Deals and Business Directory |
Your Thoughts...
Are you happy that the school year is over?
Comments:
Note: LoudounExtra.com does not necessarily agree with comments posted below — responsibility lies with the relevant reader alone. Peruse our reader agreement and privacy policy
Dont have an account? Sign up!
Post a comment