Sito Movile Ltd (NASDAQ:SITO) reported on Monday disappoitning second-quarter losses while revenues were in-line with company forecasts as the average spend per customer fell and lower television margins affected results.
The Jersey City, New Jersey. company reported a los of US$0.23 per share, worse than the average estimate of a loss of US$0.15, which is also the same level of loss in the year-ago period. Revenue declined to US$8.4mln, down from the US$10.08mln in the same period last year.
The revenue, though, was in line with company's forecasted range between US$8mln and US$9mln.
The stock fell 3.5% in after-hours trade to US$1.92, having ended on Monday up 1% at US$2.
SITO is a mobile data technology company that provides brands with customized, data-driven solutions spanning strategic insights and media campaign delivery services.