United Online Inc. matched Wall Street expectations for earnings and revenue in the fourth quarter, the company announced Wednesday.
The Woodland Hills Internet service provider and e-commerce and loyalty program operator reported net income of $2.5 million (16 cents a share) for the quarter ending Dec. 31, compared with net income of $7 million (46 cents) in the same period a year earlier. Revenue dropped 4 percent to $40.1 million.
One analyst who follows the company expected net income of 16 cents a share on revenue of $40.1 million, according to Thomson Financial Network.
During the quarter, the company saw the resignation of Francis Lobo as chief executive and the appointment of Jeff Goldstein as interim head. There was also an offer made for United Online by Los Angeles investment bank B. Riley Capital Management LLC for $185 million that was rejected.
Goldstein said the company continues to look into a range of strategic alternatives.
“We’ve been making great progress since the onset of this evaluation and have been seeing a lot of interest in each of our businesses individually as well as for the entire business,” Goldstein said in a prepared statement.
Shares closed up 19 cents, or just less than 2 percent, to $10.71 on the Nasdaq.