A spurt of non-operating income helped Broadvision (Nasdaq: BVSN) beat expectations in the fourth quarter.
After market close Wednesday, the e-commerce software developer reported fourth quarter net income of $8.1 million, or 9 cents per share. First Call's survey of 24 analysts predicted a profit of six cents per share for the quarter ended Dec. 31.
Broadvision's bottom line got a boost from $2.2 million in non-operating earnings. On an operational basis, the company earned $5.9 million, or 6 cents per share, in line with estimates.
Fourth quarter revenue rose to $43.7 million, a 173 percent increase year-over-year and a 47 percent improvement sequentially.
For the full year, Broadvision earned $18.8 million, or 22 cents per share, on revenue of $115.5 million.
Also Wednesday, Broadvision announced plans to buy Interleaf (Nasdaq: LEAF) for 5.6 million shares. As of Wednesday's market close, the deal is worth almost $851.6 million, or a 51.8 percent premium to Interleaf's price of 43 1/8. Interleaf's e-content unit sells software for managing XML-based Web content.
The agreement calls for Broadvision to issue .3465 of a share for every Interleaf share, and requires approval from regulators and Interleaf shareholders. The companies said Interleaf's tools would fit well with Broadvision's e-commerce applications.
Shares of Broadvision shot above 157 in afterhours activity. The stock closed Wednesday's regular trading at 152 1/16, down 4 1/2 for the session.>