Tech Industry

Actuate, Sonus come through in 3Q

Actuate beat the Street in its third quarter Wednesday, earning $3.4 million, or 5 cents a share, on sales of $29.5 million.

First Call Corp. consensus expected it to earn 4 cents a share in the quarter.

Actuate (Nasdaq: ACTU) shares closed off $2.94 to $28.06 ahead of the earnings report.

The $29.5 million in sales marks a 136 percent jump from the year-ago quarter when it earned $1.5 million, or 2 cents a share, on sales of $12.5 million.

"Our record financial results demonstrate the continued strength of Actuate's information delivery offerings and the increasing importance of information delivery within e-Business platforms," said CEO Pete Cittadini in a prepared release.

Last quarter, Actuate earned $2.5 million, or 8 cents a share, on sales of $24.4 million.

The stock moved up to a 52-week high of $37.38 in September after falling to a low of $7.38 last October.

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

First Call Corp. consensus expects it to earn 14 cents a share in the fiscal year.

Other companies reporting quarterly results Wednesday:

  • Sonus Networks (Nasdaq: SONS)
  • beat consensus analyst estimates in the first full quarter as a publicly-traded company.

    The vendor of systems for IP networks posted a third quarter net loss of $5.4 million, or 4 cents per share, excluding stock compensation costs. First Call's survey of a dozen analysts predicted a loss of 6 cents per share for the quarter ended Sept. 30.

    Third quarter revenue increased to $15.6 million, 139 percent gain year-over-year.

    Sonus went public in May.

    -- Sergio G. Non contributed to this report.