Applied Digital Solutions (Nasdaq: ADSX) rose 11 percent Monday after it said its subsidiary, Intellesale.com, recorded a seven-fold increase in Internet-related revenues.
Shares in Applied Digital, which is offers Internet, telecom, LAN and software services, were up 1 1/2 to 16 11/16.
The company said Intellesale.com's 1999 revenue to $52.8 million surged from $7.3 million in 1998. Final year-end results for both Intellesale and Applied Digital Solutions are expected around March 15.
The increase in Internet revenues shows Intellesale's Internet-migration strategy has been successful, the company said/
Intellesale.com sells new and refurbished computer equipment and related components online at discounted prices.