Art Technology Group expects to beat 2007 guidance
E-commerce platform provider Art Technology Group, Inc. (Nasdaq: ARTG) said this morning that it expects financial results for the full year 2007 to exceed previously issued guidance.
The Cambridge, Mass.-based firm said it anticipates total revenue in the range of $136 million to $137 million for the full year 2007, exceeding previous guidance of $130 million to $133 million. This compares with full year 2006 revenue of $103.2 million and represents year-over-year growth of 32% to 33%. The mean revenue estimate of seven analysts polled by Thomson Financial was $132.79 million.
ATG said it expects cash flow from operations for the full year to be in the range of $25.5 million to $26.5 million, exceeding prior guidance of $24 million to $25 million.
As for the bottom line, the company reaffirmed its expectations for a net loss for the full year 2007, in the range of $5 million to $6 million, in line with prior guidance of $5 million to $7 million.
Shares of Art Technology Group (ARTG) gained 5.2%, or $0.21, to $4.25 in pre-market. Shares of Art Technology Group have been trading in the range of $1.98 to $4.84 for the past 52 weeks.
