IBasis 2Q Earnings Swing To Profit On Higher Revenue >IBAS
DOW JONES NEWSWIRES
July 26, 2006 7:34 a.m.
IBasis Inc. (IBAS) swung to a second-quarter profit, boosted by higher revenue in its trading and retail units and demand for its international VoIP services.
The Burlington, Mass., communications company reported second-quarter earnings of $341,000, or 1 cent a share, compared with a loss of $767,000, or 3 cents a share, a year earlier.
Excluding costs related to its pending acquisition of KPN Global Carrier Services, the company earned $1.9 million, or 6 cents a share.
Three analysts surveyed by Thomson First Call expected, on average, earnings of 6 cents a share. Analyst forecasts typically exclude unusual items.
IBasis said its revenue for the quarter ended June 30, rose 34.6% to $127.3 million from $94.6 million a year earlier.
Three analysts surveyed by Thomson First Call expected, on average, revenue of $116 million.
In addition, iBasis said it expects 2006 non-GAAP earnings of 25 cents to 30 cents a share on revenue of $500 million to $520 million.
In 2005, the company had a loss of 2 cents a share on revenue of $385.5 million.
IBasis shares closed Tuesday up 22 cents, or 2.7%, at $8.25. |
