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Technology Stocks : Inforte Corp. (INFT) -- Ignore unavailable to you. Want to Upgrade?

To: Sr K who wrote (56)	10/17/2002 7:21:20 PM
From: Glenn Petersen	Read Replies (1) \| Respond to of 65

I don't think that it is going to fall below $5 again. The number of outstanding shares continues to shrink. Inforte<INFT.O> third-quarter profit rises CHICAGO, Oct 11 (Reuters) - Technology consultant Inforte Corp <INFT.O> on Friday reported higher third-quarter earnings helped by lower expenses, beating its previous guidance. The Chicago-based company said net income was $524,000, or 5 cents a share for the quarter ended September 30, up from $108,000, or 1 cent, in the same period last year. The company's quarterly net revenue, however, fell to $9.6 million from $10.6 million. Still, the company beat its own upward revised guidance of $8 million to $9 million for net revenue, which it projected in early September. Third-quarter earnings per share also beat its forecast of between breakeven and 2 cents a share profit. Looking ahead, Inforte forecast 2002 guidance for net revenue of $38.4 million, up from $36.8 million to $37.8 million previously forecast. For the year, EPS are now forecast at 9 cents, up from 4-6 cents predicted earlier. Guidance for future quarters remains unchanged, the company said, with fourth-quarter revenue seen at $8 million, and a breakeven bottom line. Full-year 2003 guidance for net revenue remains $34 million, and breakeven for the bottom line. During the quarter, Inforte repurchased 890,021 shares at an average price of $8.08, completing its $25 million share buyback program set in January 2001. Inforte's board also approved a new $5 million repurchase program yet to begin. The weighted average of common shares outstanding fell to 11.3 million from 13.5 million a year ago. 10/11/02 04:17 ET Copyright 2002 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. All active hyperlinks have been inserted by AOL.