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Earnings Roundup: Liquid Audio hurdles estimates

Liquid Audio easily topped analysts' estimates in its second quarter Monday but still posted a loss of $7.7 million, or 35 cents a share, on sales of $3.5 million.

First Call Corp. consensus predicted it would lose 40 cents a share in the quarter.

Ahead of the earnings report, Liquid Audio (Nasdaq: LQID) shares fell 7/16 to 9 1/4.

In the year-ago quarter, Liquid Audio posted a loss of $6.1 million, or 29 cents a share, on sales of $745,000.

"We measured our progress for the second quarter in 364 percent year-over-year revenue growth and new cumulative milestones in content, syndication and platform adoption," said CEO Gerry Kearby in a prepared release.

In the quarter, the Redwood City, Calif. company said it provided software or services to 900 music and retail Web sites, up 20 percent from the first quarter, and that its technology had been used to encode 80,000 songs from 9,800 artists.

Service sales accounted for $1.2 million of its total sales while business development and licensing sales chipped in $1.6 million and $612,000, respectively.

Liquid Audio shares soared to an all-time high of 49 1/4 in November before swooning to a low of 6 1/4 in May.

All three analysts following the stock rate it either a "buy" or "strong buy."

Among other companies reporting earnings after the bell Monday:

  • Lionbridge Technologies (Nasdaq: LIOX) posted a net loss of $7.6 million, or 33 cents a share, on sales of $28.9 million in its second quarter.

    In the year-ago quarter, it lost $10.7 million, or $1.57 a share, on sales of $23.1 million.

    Its shares closed off 3/16 to 7 3/4 ahead of the earnings report.

  • Cybergold (Nasdaq: CGLD) met analysts' estimates in its second quarter, losing $6.9 million, or 33 cents a share, on sales of $6.8 million.

    First Call Corp. consensus expected Cybergold to lose 33 cents a share in the quarter.

    The $6.8 million in sales marks a 750 percent improvement from the year-ago quarter when it lost $7.9 million, or 38 cents a share, on sales of $800,000.

    Cybergold shares ended off 9/16 to 6 7/8 Monday.

  • Drugstore.com (Nasdaq: DSCM) beat the Street estimate in its second quarter Monday, losing $42.3 million, or 83 cents a share, on sales of $24.6 million.

    Analysts were expecting a loss of 97 cents a share in the quarter.

    Its shares closed unchanged at 4 15/16 ahead of the earnings report.

  • Digex (Nasdaq: DIGX)
  • beat the consensus estimate in the second quarter.

    The application hosting provider reported a second quarter net loss of 54 cents per share, on revenue of $42.2 million. First Call consensus predicted a loss of 56 cents per share.

    Second quarter revenue increased 234 percent year-over-year. Digex added 736 servers during the quarter to bring its total of managed units to 3,647.

  • UTStarcom (Nasdaq: UTSI)
  • topped analyst consensus by a penny in the second quarter.

    The provider of systems for communications networks reported second quarter net income of $9.4 million, or 9 cents per share, excluding special charges. First Call consensus predicted a profit of 8 cents per share.

    Revenue in the second quarter increased 90 percent year-over-year to $80 million.

    Shares of UTStarcom traded at 25 1/2 in afterhours activity on the Island electronic communications network, following the earnings report. UTStarcom stock closed Monday's regular trading at 25 7/16, up 2 3/16 for the session. >