Reuters: Regulatory News: UPDATE 1-Digital River extends distribution deal with Microsoft

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UPDATE 1-Digital River extends distribution deal with Microsoft May 9th 2012, 19:07 Wed May 9, 2012 3:07pm EDT * Extends agreement by five months * Reiterates FY adj EPS $1.20 to $1.28 vs est $1.22 * Reiterates FY rev $402 mln to $409 mln vs est $405.6 mln * Shares up 7 pct in aftermarket trade May 9 (Reuters) - Digital River Inc said it extended an e-commerce deal with Microsoft Corp, its largest customer, by five months to March 1, 2014, sending its shares up 7 percent in afternoon trade. As part of the agreement, Digital River may build, host and manage the Microsoft Store -- an e-commerce store that supports the sale of Microsoft and third party software as well as consumer electronics products to customers throughout the world. Digital River may also provide e-commerce services in connection with Microsoft Store on a global basis. Microsoft accounted for about 28 percent of Digital River's revenue in 2011. Digital River also affirmed its full-year outlook of adjusted profit of $1.20 to $1.28 per share, on revenue of $402 million to $409 million. Analysts were looking for a profit of $1.22 per share on revenue of about $405.6 million, according to Thomson Reuters I/B/E/S. Shares of the company were up 5 percent at $15.79 on Wednesday on the Nasdaq. They rose to $16.20 earlier in the day. Link this Share this Digg this Email Reprints

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