More on Velti's Q2: The company expects Q3 revenue of $60M-$64M and 2012 revenue of $285M-$296M,...

|By:, SA News Editor

More on Velti's Q2: The company expects Q3 revenue of $60M-$64M and 2012 revenue of $285M-$296M, in-line with Street estimates of $61.1M and $290.9M. Adjusted EBITDA is expected to grow to $8.5M-$10.5M in Q4 from Q2's $6.2M. Net cash, a concern following Velti's Q1 report, grew by $5.1M. However, DSOs came in at a steep 266 days, down only slightly Q/Q. VELT +18.5%. Together with Millennial Media's strong Q2 report, the results could bode well for Google's mobile ad business. (PR)