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Vicinity 2Q sales, loss expand

Vicinity posted a wider-than-expected loss in its second quarter Tuesday, losing $4.1 million, or 70 cents a share, on sales of $3.3 million.

First Call consensus expected Vicinity (Nasdaq: VCNT) to lose only 26 cents a share in the quarter.

Its shares closed up 13 3/4, or 22 percent, to an all-time high of 74 7/8 ahead of the earnings report.

The provider of Internet-based marketing infrastructure services got off to terrific start last month in its initial public offering.

The $3.3 million in sales marks a 133 percent improvement from the year-ago period when it lost $1.1 million, or 30 cents a share, on sales of $1.4 million.

"Our impressive growth this quarter provides further evidence that traditional retailers recognize that Vicinity provides a critical marketing solution that helps drive consumers from their Web sites into their brick and mortar stores," said CEO Emerick Woods in a prepared release.

Company officials said it added more than 100 customers from the year-ago quarter for a total of 197 clients.

First Call consensus expects it to post a loss of 79 cents a share in the fiscal year.