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Calico beats 3Q estimates, drops 16 percent

Calico Commerce (Nasdaq: CLIC) took back all the ground it had gained ahead of its quarterly report. Shares sank 16 percent Friday even after the company reported it lost 16 cents a share in its third quarter, narrower than the loss of 18 cents a share predicted by First Call's consensus estimate.

Shares in the provider of business-to-business electronic commerce software and services fell 8 7/8 to 48 1/16, after running up from the mid-40s into the 60s in the week preceding Thursday's report.

Calico said it had a 72 percent increase in license revenue, and total revenue increased to a record $8.7 million compared with revenue of $5.7 million for the same period last year. On a proforma basis, excluding one-time items, Calico said net loss was 16 cents a share versus 13 cents a share last year. Net loss was $5.7 million, or 19 cents a share. This quarter's loss was much narrower than the net loss of $3.8 million or 55 cents a share lost in the same period last year.

Alan Naumann, president and CEO, Calico Commerce said the company was pleased with business momentum in the company's first public quarter. It added 12 new customers, launched Calico, and announced a deal to buy

Calico's customers include Motorola (NYSE: MOT), Nortel Networks (NYSE: NT), KPNQwest (Nasdaq: KQIP) and Winstar Communications (Nasdaq: WCII).