Software developer Remedy Corp. (Nasdaq: RMDY) blew past analysts' estimates in its second quarter Monday, raking in $6.2 million, or 21 cents a share, on sales of $53 million.
First Call consensus expected the Mountain View, Calif. company to earn 18 cents a share in the quarter.
Its shares closed off 1 3/8 to 25 7/8 ahead of the earnings report.
"Remedy's strong second quarter performance is an indicator of reinvigorated revenue growth and profitability," said CEO Larry Garlick in a prepared release. "License revenue growth of 38 percent demonstrates strong demand for our new Web and Windows based solutions that deploy rapidly and can change as quickly as businesses change."
The $53 million in sales represents a 45 percent jump compared to the year-ago quarter when it returned a profit of 16 cents a share on sales of $36.6 million.
Remedy shares peaked at 29 3/8 in July after falling to a 52-week low of 7 9/16 in October.
Seven of the nine analysts following the stock maintain either a "buy" or "strong buy" recommendation.