Thanks for the info. To be fair, Benchmark is also an investor in Conduit and they may be seeking to sell some shares once the deal is approved by PERI shareholders and their lock-up agreement is over.
The company won't be revealing its thoughts on FY14 until after the merger is closed, although they will be presenting results for Conduit in the next two quarterly CCs for PERI.
On a GAAP basis, the recent revenue numbers for Conduit look bad because of the changes in Google's toolbar policies. However, with the new contract in place, the non-GAAP (but arguably more relevant) comps are showing decent growth. I think that is what investors will eventually focus on because they will be the appropriate standard of evaluation of organic growth going forward.
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