United Online Inc. shares fell nearly 9 percent early Thursday after the online services company reported mixed fourth quarter results and gave a cautious revenue forecast for the current quarter.

The Woodland Hills company late Wednesday reported net income of $12.5 million (14 cents a share) which was 19 percent lower than the $15.5 million (18 cents) reported in the same period a year earlier. Revenue fell 6 percent to less than $218 million.

Adjusted for one-time items, net income was 25 cents a share. Analysts surveyed by S&P Capital IQ had expected adjusted earnings 20 cents a shares on revenue of nearly $220 million.

For the current first quarter, United Online expects to report revenue of $238 million to $243 million. The Wall Street consensus was for revenue of nearly $244 million.

The company operates the social networking site MemoryLane.com, formerly Classmates.com; floral retailer FTD Group Inc. and Internet access provider NetZero.

Shares were down 49 cents, or 8.7 percent, to $5.13 in midday trading on the Nasdaq.