Allaire Corp. (Nasdaq: ALLR) tiptoed past analysts' estimates in its fourth quarter Wednesday, earning $478,000, or 3 cents a share, on sales of $18.3 million. It also announced a 2-for-1 stock split.
First Call consensus pegged the e-business platform provider for a profit of 2 cents a share in the quarter.
Allaire shares closed up 11 9/16, or 7 percent, to 171 7/8 ahead of the earnings report.
The $18.3 million in sales represents a 164 percent jump from the year-ago quarter when it lost $4.3 million, or 54 cents a share, on sales of $7 million.
For the fiscal year, Allaire lost $2.6 million, or 22 cents a share, on sales of $55.2 million compared to a loss of $17.1 million, or $2.20 a share, on sales of $21.4 million in fiscal 1998.
"1999 was a breakthrough year for Allaire," said CEO David Orfao in a prepared release. "And, as we move forward in 2000, we believe Allaire is very well positioned to take advantage of the huge opportunities in the e-business platform market."
Allaire shares moved up to a 52-week high of 188 1/4 in December after falling to a low of 39 7/8 in June.
Seven of the eight analysts following the stock maintain either a "buy" or "strong buy" recommendation.
Among other technology companies reporting earnings Wednesday:
for details visit
http://news.cnet.com/039Net-Earnings-Roundup-Allaire,-Proxicom-shine/2100-12_3-264508.html
posted by srikanth....july8
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