IWOV ( $12.50 vs $15) profit vs loss, feels slowing economy
(adds background, stock activity)
SUNNYVALE, Calif., July 17 (Reuters) - Interwoven Inc.
<IWOV.O>, a maker of software that manages the flow of Web page
content, on Tuesday posted a second-quarter profit, reversing a
year-earlier loss, but said revenue dropped 9 percent from the
first quarter.
The company said that excluding one-time items, it earned
$552,000, or 1 cent a share, compared with a year-ago loss of
$755,000, or 1 cent a share. In April, it had predicted
second-quarter earnings before charges would be between
$500,000 to $600,000, or a penny a share.
Analysts on the average had expected break-even results,
with estimates ranging from a loss of a penny a share to a
1-cent profit, according to Thomson Financial/First Call.
The one-time items included noncash charges related to
stock-based compensation, acquisition-related expenses and a
special charge related to facilities relocation.
Revenues more than doubled to $55 million from $24.3
million a year earlier.
Citing an U.S. economic slowdown, Interwoven said in April
that second-quarter revenue would be between $53 million and
$54 million, below the analysts' consensus of $58.72.
Since then, shares of Interwoven have outperformed the S&P
software index by 40 percent. Unlike many other software makers
the company has not revised its outlook since then.
Shares of Interwoven closed up $1.49, or nearly 11
percent, at $15.08 on Tuesday in anticipation of the quarterly
report. In after-hours activity on Instinet, the stock traded
slightly higher at $15.25.
((New York Newsdesk, 212-859-1700))
REUTERS
*** end of story *** |
