AVG Technologies N.V. (NYSE:AVG) is seeking acquisitions. John Little, Chief Financial Officer of AVG Technologies said, "We're looking at over 30% free cash flow conversion this year. And that gives us plenty of opportunities to do things with the cash, whether it's M&A, acquisitions, whether it's organic growth, whether it's, as you say, paying down the debt, or share repurchases. There's plenty of opportunities and potential. But, as we think of it right now, what we're looking at is continuing technology tuck-ins because we've got 150 million users."

AVG Technologies N.V. announced that it has entered into a new $75 million credit facility with HSBC that will support AVG's financing requirements over the next three years. The new credit facility consists of a $25 million six month term US dollar loan and a $50 million three year multicurrency revolving credit facility. The facility bears interest at LIBOR plus 2.5%, which compares with LIBOR plus 6.0%, with a minimum rate of 7.5%, under the previous credit agreement. The outstanding principal amount of $77.8 million under the previous credit agreement has been fully repaid, utilizing $75 million in borrowings from the new credit facility.

AVG Technologies N.V. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net income of $24.4 million, or $0.45 per basic and diluted ordinary share compared to net income of $10.9 million, or $0.21 per diluted ordinary share in the equivalent period last year, an increase of 114% per diluted ordinary share. Net cash flow from operating activities was $43.3 million, an increase of 110% compared with $20.6 million for the same period last year. Non-GAAP adjusted net income was $31.8 million, or $0.58 per diluted ordinary share compared to non-GAAP adjusted net income of $18.2 million, or $0.34 per diluted ordinary share, for the same period of the prior year, an increase of 71% per diluted ordinary share. Unlevered free cash flow was $43.8 million compared with $22.8 million for the same period in the prior year, an increase of 92%. Total revenue was $104,726,000 compared to $82,985,000 a year ago. Operating income was $32,298,000 compared to $21,046,000 a year ago. Income before income taxes and loss from investment in equity affiliate was $30,212,000 compared to $14,865,000 a year ago. Purchase of property and equipment and intangible assets was $3,738,000 compared to $1,872,000 a year ago. Non-GAAP adjusted operating income was $39,077,000 compared to $27,431,000 a year ago. The company is raising earnings guidance for the year 2013. For the year 2013, the company’s revenue is expected to be in the range of $414 million to $422 million. Net income is expected to be in the range of $73 million to $83 million; diluted EPS is expected to be in the range of $1.29 to $1.49. Non-GAAP adjusted net income is expected to be in the range of $98 million to $108 million; non-GAAP diluted EPS is expected to be in the range of $1.74 to $1.94. Operating cash flow is expected to be in the range of $144 million to $150 million; non-GAAP unlevered free cash flow is expected to be in the range of $134 million to $140 million. The company provided earnings guidance for the second quarter of 2013. For the second quarter of 2013, the company’s revenue is expected to be approximately $100 million. Net income is expected to be in the range of $14 million to $17 million; diluted EPS is expected to be in the range of $0.25 to $0.32. Non-GAAP adjusted net income is expected to be in the range of $22 million to $24 million; non-GAAP diluted EPS is expected to be in the range of $0.39 to $0.45.