Lionbridge swings to 3Q profit as sales pick up
Lionbridge Technologies 3rd-qtr profit tops Street estimates on improved sales and new deals
Wednesday November 5, 2008, 4:20 pm EST
WALTHAM, Mass. (AP) -- Lionbridge Technologies Inc., which translates software and Web content to help companies operate internationally, said Wednesday it swung to a profit in the third quarter as sales picked up and the company gained new contracts.
Net income totaled $3.2 million, or 6 cents per share, compared with a year-ago loss of $666,000, or a penny per share. Revenue edged up 3 percent to $114.3 million from $111.5 million, as the company deployed its Freeway program with new customers. The company said it secured three large new contracts.
On average, analysts expected a profit of 3 cents per share and $121.1 million in revenue.
Lionbridge said the largest contract was a three-year, $6.8 million deal with a large telecommunications company.
In the fourth quarter, Lionbridge said it expects revenue of $105 million to $110 million. Analysts expect sales of $127.7 million.
The stock slipped 8 cents, or 3.9 percent, to close at $2.12. |
