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4Front Technologies matches 1Q estimates

4Front Technologies met analysts' estimates in its first quarter Wednesday, earning $100,000, or a penny a share, on sales of $58.1 million.

First Call Corp. consensus expected the providers of networking and other computer services to earn a penny a share in the quarter.

4Front (Nasdaq: FFTI) shares closed off 9/16 to 15 1/16 ahead of the earnings report.

The $58.1 million in sales marks only a 1 percent improvement from the year-ago quarter when it earned $2 million, or 17 cents a share, on sales of $57.3 million.

"The first quarter of what is a major year of transformation for 4Front has been successfully completed," said CEO Anil Doshi in a prepared release. "I am pleased to report that good progress was made on all of these fronts."

Last quarter, 4Front posted a profit of $1.4 million, or 11 cents a share, on sales of $71.1 million.

Its shares moved up to a 52-week high of 40 in March after falling to a low of 8 7/8 last June.

All four analysts covering the stock rate it either a "buy" or "strong buy."

First Call Corp. expects it to earn 18 cents a share in the fiscal year.>