FreeMarkets tops 2Q expectations
FreeMarkets (Nasdaq: FMKT) lost less than analysts expected in the second quarter.
After market close Monday, the online business-to-business marketplace operator reported a second quarter net loss of $12.8 million, or 34 cents per share, excluding special charges. First Call's survey of 15 analysts predicted a loss of 41 cents per share for the quarter ended June 30.
Shares of FreeMarkets rose to 55 1/2 in afterhours trading on the Island electronic communications network, following the quarterly report. The stock closed Monday's regular trading at 53 1/2, up 1 1/4 for the session.
Including all charges, FreeMarkets lost $46.5 million, or $1.25 per share.
Second quarter revenue of $19.4 million represented a 363 percent improvement year-over-year and 80 percent gain from the first quarter. Volume on the company's marketplace rose 62 percent sequentially to $2.19 billion.
Sixty-four buyers used the FreeMarkets service in the second quarter, compared to 13 a year earlier. Global suppliers on the marketplace increased by more than 1,500, to a total of more than 5,600.
Other companies reporting quarterly results:
The provider of personalization and merchandising software reported a second quarter loss of $4.1 million, or 16 cents per share, excluding amortization. First Call consensus predicted a loss of 17 cents per share for the quarter ended June 30.
Second quarter revenue increased to $12.4 million, up 31 percent sequentially and 341 percent year-over-year. About 24 percent of NetPerceptions' license revenue came from pure dot-com firms, the company said.
Including amortization, NetPerceptions lost $11.7 million, or 46 cents per share.
The online ad delivery network reported a second profit of $1.9 million, or 6 cents per share, on revenue of $11.3 million. First Call consensus predicted a profit of a penny per share.
Second revenue increased 290 percent year-over-year. Operating profit not counting amortization and charges related to stock compensation was $115,000.
ValueClick in the second quarter expanded its network to about 14,300 websites, a gain of more than 15 percent from the first quarter. Click throughs increased to 26.1 million.>