From Baron Funds' first quarter letter: Velti plc (VELT, Financial) is a leading mobile marketing company. Shares of Velti recovered strongly in the quarter and were up 99.3% as the company reported fourthquarter results that were ahead of expectations. The company's outlook for 2012 included robust growth and profitability. Concern over the company's exposure to Europe waned. The company has improved its ability to explain its business to investors, has made positive changes in management, and has increased traction in the U.S. market. (Ashim Mehra)
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