DG FastChannel 2nd-quarter earnings decline as operating expenses rise
By APThursday, August 6, 2009
DG FastChannel 2Q profit declines
DALLAS — DG FastChannel Inc., a digital media advertising services company, said Thursday it earned a lower second-quarter profit, but matched Wall Street expectations.
Profit declined to $3.6 million, or 16 cents per share, from $4.1 million, or 23 cents per share, a year ago.
Sales rose 27 percent to $43.7 million from $34.5 million, helped by the delivery of high definition advertising content.
Operating expenses jumped to $26.9 million from $21.4 million during the quarter.
Analysts surveyed by Thomson Reuters expected earnings of 16 cents per share and sales of $44.9 million.
The stock slipped 50 cents, or 2.4 percent, to $20.27 in afternoon trading.
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