E-commerce platform provider ATG says 2007 revenue exceeded expectations
E-commerce platform provider Art Technology Group Inc. has raised its revenue estimate for 2007, and now says sales for the year will be between 32% and 33% higher than its 2006 revenue of $103.2 million.
The company now estimates full-year revenue will come in at between $136 million and $137 million, up from its earlier estimate of $130 million to $133 million.
“We are extremely pleased that our 2007 financial results exceeded our annual guidance,” says Bob Burke, president and CEO of Cambridge, MA-based ATG. “Our financial performance throughout the year reflects the ongoing strong demand for ATG’s offerings as companies invest in their e-commerce solutions.”
The company says cash flow from operations for 2007 will come in at between $25.5 million to $26.5 million, exceeding its previous guidance of $24 million to $25 million. ATG expects a net loss for the year of $5 million to $6 million, in line with prior guidance of a loss of $5 million to $7 million.
ATG plans to announce final fourth-quarter and 2007 results Feb. 5.
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