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What: Shares of AVG Technologies (NYS: AVG) have popped today by upwards of 13% on the heels of an upbeat earnings release and cheery guidance.
So what: The anti-virus-software maker posted first-quarter revenue of $83 million, with adjusted net income of $18.2 million, or $0.34 per share. Analysts would have been happy with just $76.7 million in sales. CEO J.R. Smith said the company grew its user base and increased revenue per average active user, while bolstering its product portfolio.
Now what: The majority of growth was driven by its platform-derived segment, with sales more than doubling to $36.4 million, while subscription revenue only grew by 8% to $46.6 million. Second-quarter guidance expects revenue to be between $80 million and $82 million, with adjusted earnings per share in the range of $0.26-$0.28. AVG is raising its full-year forecast, with fiscal 2012 sales expected to be in the range of $327 million-$335 million, up from the prior range of $317 million-$325 million. The company's profit forecast was also bumped up and adjusted net income is now expected between $60 million and $63 million.
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