Inktomi Corp. (Nasdaq: INKT) lost a little less in the third quarter than analysts expected.
In fiscal third quarter results released after market close Wednesday, the San Mateo, Calif.-based provider of network caching technology posted a net loss of $5.2 million, or 10 cents a share, not including acquisition-related charges. First Call's survey of 13 analysts predicted a loss of 12 cents for the quarter ended June 30.
Third quarter revenue rose to $19.6 million, a 34 percent gain sequentially and a 212 percent increase from the year-ago period, when Inktomi saw revenue of $6.3 million. Inktomi's technology speeds up corporate networks and forms the search engine for several websites. The company also plans a wide rollout of a comparison shopping engine later this year, along with a product for organizing Web directories.
"During the quarter we continued to show top-line revenue growth, major customer design wins and strong market expansion," said David Peterschmidt, president and CEO of Inktomi.
Inktomi recorded non-recurring charges of $1.1 million related to the acquisition of Impulse! Buy Network. Including that expense, Inktomi lost 13 cents a share.
Shares of Inktomi were up 3 5/16 to 128 7/8 late in Wednesday's regular trading session, prior to the quarterly report. Of 13 analysts surveyed by Zack's Investment Research, 10 recommend Inktomi as some sort of buy, and three maintain the equivalent of "hold" ratings on the stock.>