RETK ($35-$28) Beats by 1 Cent
Thursday July 19, 10:20 am Eastern Time
Retek reports second-quarter profit as revenues grow
MINNEAPOLIS, July 19 (Reuters) - Retek Inc. (NasdaqNM:RETK - news), a retail industry software provider, said Thursday second-quarter revenues rose 123 percent, giving it a net profit after a loss last year.
The company reported a net profit of 2 cents per share -- excluding non-cash amortization and stock-based compensation charges -- on operating income of $911,000, compared with a loss of 16 cents per share and an operational loss of $7.71 million in the 2000 quarter.
Revenue was $43.6 million, up 123 percent from the prior year, while software license revenue was $31.6 million, up 175 percent from the 2000 quarter.
Chairman John Buchanan said Retek had raised its guidance for the year 2001 and now expects total revenue of $175 million to $185 million and operational earnings, excluding non-cash charges, of 7 cents to 11 cents per share.
For 2002, the company is currently expecting revenue in the range of $245 million to $270 million and operational earnings, excluding non-cash items, of 40 cents to 50 cents per share. |
