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Wednesday, Nov 14
2012, 4:59 PM
Velti (VELT) now -21.7% AH in response to its Q3 report. In addition to missing EPS estimates,...
Velti (VELT) now -21.7% AH in response to its Q3 report. In addition to missing EPS estimates, the mobile ad agency said it will divest assets in regions with very high collection times (the PIIGS, North Africa, the Middle East) for $23.5M or more. Velti's collection times have long worried many investors. Thanks to the deal, Velti is hoping to see its DSO fall below 180 days (still high) by the end of 2013, compared with Q3's 242 days. It expects Q4 revenue from continuing ops of $97M-$113M, compared with a consensus for total revenue of $121.2M. CC underway (webcast). (slides) (PR)