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Perion hits all-time high, 4Q revenue tops outlook

NEW YORK (AP) -- Perion Network's stock reached an all-time high on Tuesday as the online services provider's 2012 revenue topped its forecast. The company also gave an optimistic 2013 revenue outlook.

Perion reported fourth-quarter revenue of $21 million and full-year revenue of $61 million, which is above the $55 million the company expected.

For 2013, Perion Network Ltd. foresees adjusted earnings of at least $1.61 per share on revenue of more than $110 million.

Its stock jumped $2.81, or 29.7 percent, to $12.26 in afternoon trading. The shares touched $12.47 earlier in the session.

The Israeli company will report its financial results for the fourth-quarter and full-year in March.