Stock Watch: Mediaplex Falls on Q3 Revenue Warning

Mediaplex, Inc. (Nasdaq: MPLX) fell 1 15/16 to 6 5/16 Tuesday, as the San Francisco, California-based company became the latest in a series of online advertising companies to warn of a shortfall in third quarter results. Mediaplex makes technology used by Internet advertisers.

Revenue for the quarter will be $13 to $14 million, below analysts’ expectations, though cash earnings per share should be in line with consensus estimates, Mediaplex said.

“Our top-line estimates reflect the broad slowdown in online ad spending during third quarter, and in particular, our clients taking a more conservative approach to allocating advertising expenditures to this quarter,” said Chairman and Chief Executive Officer Gregory R. Raifman.

Raifman said he is optimistic about future results. “Despite current softness in the marketplace, we are encouraged by our prospects for the fourth quarter,” he said.

Fourth-quarter revenue will be in the “high teens” of millions of dollars, Mediaplex said.

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