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Engage Technologies beats estimates

Engage Technologies posted a loss for its second quarter Tuesday, losing $27.4 million, or 52 cents a share, on sales of $12.8 million. According to First Call's corrected estimate, the company beat predictions by 6 cents a share. The company also announced a 2-for-1 stock split.

First Call consensus had originally expected the online marketing firm to lose 49 cents a share in the quarter. But according to Engage's Investor Relations, First Call had made a mistake.

Engage shares closed off 2 7/16 to 176 5/8 ahead of the earnings report.

The $12.8 million in sales marks a 377 percent improvement from the year-ago quarter when it lost $5 million, or 15 cents a share, on sales of $2.7 million.

Engage (Nasdaq: ENGA) shares moved up to a 52-week high of 186 earlier this month after falling to a low of 23 1/8 shortly after its July initial public offering.

"Our customer base has expanded rapidly, particularly among online marketers and agencies, as companies recognize the substantial value and effectiveness of our profile-driven Internet marketing solutions," said CEO Paul Schaut in a prepared release.

Last quarter, Engage beat Street estimates, losing $10.5 million, or 22 cents a share, on sales of $8.3 million.

First Call consensus predicts it will lose $1.94 a share in the fiscal year.

Company officials said the stock split will take place on April 3 for all shareholders of record on March 20.

All six analysts tracking the stock maintain either a "buy" or "strong buy" recommendation.

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