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Tech Industry

InfoSpace leaps past 4Q forecasts

InfoSpace.com (Nasdaq: INSP) cruised past the consensus estimate in the fourth quarter.

After market close Wednesday, the provider of Web portal services reported fourth quarter earnings of $5 million, or 9 cents per fully diluted share, not counting amortization and special charges. First Call's survey of 10 analysts predicted a break-even quarter.

InfoSpace's results included $3.6 million in non-operating income. The company's operations earned $1.4 million, or 2 cents per share. Including writedowns and one-time costs, the company lost $2.7 million, or 3 cents per share.

Fourth quarter revenue grew to $14.4 million, a 250 percent improvement year-over-year and a 41 percent gain sequentially. Wireless services are the fastest-growing segment of InfoSpace's business, followed by merchant services. But InfoSpace's consumer services unit still generates the bulk of the company's revenue.

For the full-year, InfoSpace earned $5.8 million, or 11 cents per share, on revenue of $36.8 million, excluding amortization and non-recurring events.

Shares of InfoSpace fell 9 1/2 to 140 in Wednesday's regular trading prior to the quarterly report. All 10 analysts polled by Zack's Investment Research maintain some sort of "buy" rating on InfoSpace.>