Look for another strong quarter from Harbinger Corp. (Nasdaq: HRBC)
On Friday, the e-commerce software vendor told shareholders to expect results that will meet or beat Wall Street estimates for the third quarter. First Call's survey of 12 analysts predicts a profit of 9 cents per share for the quarter ending Sept. 30.
"It appears that we are nearing completion of another solid quarter," chairman and CEO C. Tycho Howle said, in the company's periodic letter to shareholders. "We do not foresee any negative trends in revenues and expenses that will cause us to question financial expectations for the fourth quarter. The evidence suggests that the market for our core business-to-business e-Commerce is strong and indications are that our growth in these products and services is accelerating."
First Call's consensus estimate calls for a profit of 12 cents per share in the fourth quarter. Harbinger has beaten analyst estimates for the three quarters preceding the current one.
Shares of Harbinger rose 1 3/4 to 13 7/8 in Friday's regular trading. Among 13 analysts surveyed by Zack's Investment Research, seven rate Harbinger the equivalent of a "hold", and six recommend it with a "moderate buy" rating.