Feb. 21--Shares of Woodland Hills-based United Online popped up 29.47 percent on Thursday as investors shook off a mixed earnings report issued a day earlier.
Shares of the Internet and social media company rose $3.25 to $14.29.
On Wednesday, United Online (UNTD) reported reported fourth-quarter results that beat analysts' expectations on revenue but missed on earnings.
For the three month period ending Dec. 31 the company reported net income of $4.3 million, 32 cents a share, up from $1.6 million, 12 cents a share, a year earlier. Revenue totaled $62.6 million, down from $65.9 million a year earlier.
The consensus of a survey of analysts by Thomson Reuters expected per share earnings of 47 cents and revenue of $59.18 million.
"Priorities in 2014 include optimizing our existing businesses, expanding new product development efforts to drive new revenue growth and pursuing new strategic alliances and other opportunities to expand our scope and reach," company President and CEO Francis Lobo said in a statement.
United Online Inc. brands include websites Classmates and StayFriends, the online loyalty marketing site MyPoints and net access providers NetZero and Juno.
The company also got smaller in the last quarter of the year.
In November the company spun off its FTD Companies into a publicly traded company.
United Online shareholders received one share of FTD stock for every five UNTD shares they held.
"With the FTD spin off behind us, we are now focused on developing strategies that will return United Online to growth," Lobo said.
During the quarter the company incurred $7.8 million in transaction costs related to the FTD spin off.
Wine and jazz
ONEgeneration, the Reseda-based non-profit that provides care service for seniors and children, is holding its annual fund-raising event, "Wine & Jazz" next Friday evening at the Odyssey restaurant in Granada Hills.
The event at the hill-top dining stop with a Valley view runs from 6 to 9 p.m.
Admission is $75 per person or $120 a couple and sponsorship packages start at $250 and top out at $5,000.
The event includes a wine tasting, a wine and food paring, a silent auction and music by the West 79th Street Funk Jazz Band.
The group was founded in 1978.
For more information, call ONEgeneration at 818-708-6668 or go to onegeneration.org.
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