InfoSpace (Nasdaq: INSP) topped analyst estimates in the fourth quarter.
After market close Monday, the provider of Internet infrastructure services reported fourth quarter net income of $12.6 million, or 4 cents per share, excluding special charges. Twenty analysts surveyed by earnings tracking firm First Call predicted a profit of a penny per share for InfoSpace's December quarter.
Shares of InfoSpace traded at $7 in afterhours activity on the Island ECN, immediately following the earnings report. InfoSpace fell 9 cents to $6 in Monday's regular trading ahead of the release of quarterly results.
Including goodwill writedowns and one-time charges, InfoSpace lost $97 million, or 31 cents per share.
Fourth quarter revenue increased 125 percent year-over-year to $66.1 million. The company in a news release extolled its wireless growth.
"InfoSpace continues to expand its relationships and deliver value to wireless carriers proven by the significant revenue growth in our wireless business and the more than 1.5 million wireless subscribers," said Naveen Jain, who recently resumed his roles as chairman and CEO. "InfoSpace will continue to relentlessly execute and rapidly innovate to consistently provide wireless carriers worldwide with exceptional service and unique products needed to be successful in this space."
For the full year, InfoSpace earned $46.2 million, or 14 cents per share, excluding special charges. Including all expenses, InfoSpace lost $279.2 million on 2000 revenue of $214.6 million.>