Silknet beats 2Q forecasts
Silknet Software (Nasdaq: SILK) lost less than analysts expected in the second quarter.
After market close Thursday, the vendor of systems and software for electronic business reported a fiscal second quarter net loss of $3.1 million, or 20 cents per share, excluding a one-time charge. First Call's survey of eight analysts predicted a loss of 27 cents per share for the quarter ended Dec. 31.
Including a non-recurring expense of $661,000 related to the acquisition of InSite Marketing Technology, Silknet lost $3.8 million, or 23 cents per share.
Second revenue increased to $7.9 million, a 140 percent improvement from $3.3 million in the year ago period, when Silknet lost $2.8 million. License revenue rose to almost $5.2 million, from $2 million a year earlier. Services revenue increased to $2.7 million, compared to $1.2 million in the year ago period.
The company's second quarter contract wins include E*Trade Group, CarParts.com, Replay Networks Group and Jaguar Communications.
In the first quarter, Silknet lost $2.9 million, or 19 cents per share, on revenue of $6 million.
Shares of Silknet closed Thursday's regular trading at 149 1/4, up 14 1/4 for the session. Among six analysts surveyed by Zack's Investment Research, four maintain the equivalent of "moderate buy" ratings on Silknet, one recommends it as a "strong buy", and one has a "hold" advisory on the stock.
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