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HolidayBuyer's Guide
Tech Industry

Internet Roundup: Autoweb.com, Redback Networks lead charge

Autoweb.com Inc. (Nasdaq: AWEB) posted a smaller-than-expected loss in its second quarter Thursday, losing $3 million, or 12 cents a share, on sales of $7 million.

First Call consensus expected it to lose 20 cents a share in the quarter.

Autoweb.com shares closed off 23/32 to 14 ahead of the earnings report.

The $3 million in sales represents a 157 percent improvement versus the year-ago quarter when it lost $2.3 million, or 12 cents a share.

"We are extremely pleased with the second quarter's record revenues, the continued growth in our dealer network and the substantial increase in traffic, which reached a record 10.2 million visitors,'' said CEO Dean DeBiase in a prepared release. "We also made significant progress in building our brand."

Last quarter, Autoweb.com lost $2.4 million, or 10 cents a share, on sales of $5.7 million.

The stock peaked at 50 shortly after its initial public offering in March before falling to a low of 10 3/4 in June.

All four analysts following the stock maintain either a "buy" or "strong buy" recommendation.

Among other technology companies reporting earnings Thursday:

  • Broadvision Inc. (Nasdaq: BVSN) beat analysts' estimates in its second quarter Thursday, raking in $3.3 million, or 12 cents a share, on sales of $23.5 million.

    First Call consensus expected the e-commerce software developer to earn 11 cents a share in the quarter.

    The $23.5 million in sales represents a 106 percent improvement from the year-ago quarter when it made $693,000, or 3 cents a share, on sales of $11.4 million.

    The stock closed off 1 11/16 to 67 7/8 Thursday.

  • Concentric Network Corp. (Nasdaq: CNCX) posted a smaller-than-expected loss in its second quarter Thursday, dropping $26.2 million, or 64 cents a share, on sales of $33 million.

    First Call consensus expected it to lose 67 cents a share in the quarter.

    Sales improved 68 percent compared to the year-ago quarter when it lost $21.5 million, or 74 cents a share, on sales of $19.7 million.

    Concentric Networks shares closed off 1 1/2 to 33 1/2.

  • Phone.com Inc. (Nasdaq: PHCM) beat Street estimates in its fourth quarter Thursday, losing $6.8 million, or 62 cents a share, on sales of $6.7 million.

    Analysts were expecting a loss of 70 cents a share in the quarter.

    The $6.7 million in sales marked a 425 percent jump versus the year-ago quarter when it lost $2.9 million, or 53 cents a share, on sales of $1.3 million.

    Its shares closed off 4 1/4 to 78 3/4.

  • Redback Networks Inc. (Nasdaq: RBAK) showed considerable progress in its second quarter Thursday, reporting a loss of $2.6 million, or 16 cents a share, on sales of $11.1 million.

    First Call consensus expected it to lose 19 cents a share in the quarter.

    The $11.1 million in sales represents a staggering 753 percent jump versus the year-ago quarter when it lost $2.1 million, or 18 cents a share, on sales of $1.3 million.

    Company officials also announced a 2-for-1 stock split. Not a bad investment considering the company held its initial public offering in early June.

    Its shares closed off 6 1/2 to 148 ahead of the earnings report.

  • VerticalNet Inc. (Nasdaq: VERT) missed analysts' estimates in its second quarter Thursday, losing $6.7 million, or 40 cents a share, on sales of $3.5 million.

    First Call consensus was expecting a loss of only 37 cents a share.

    In the year-ago quarter, it lost $2.8 million, or 28 cents a share, on sales of $587,000.

    However, it did announce a 2-for-1 stock split.

    Its shares yo-yoed from a low of 34 3/4 in June to more than 114 in early July.

    On Thursday, the stock closed up 3/4 to 96 3/8.>