Intraware's 2Q loss smaller than expected

Intraware posted a smaller-than-expected loss in its second quarter Wednesday, losing $11.6 million, or 44 cents a share, on sales of $32.6 million.

First Call Corp. consensus pegged the software developer for a loss of 54 cents a share in the quarter.

Ahead of the earnings report, Intraware (Nasdaq: ITRA) shares closed off 38 cents to $8.38.

The $32.6 million in sales marks a 69 percent improvement from the year-ago quarter when it lost $5.4 million, or 23 cents a share, on sales of $19.3 million.

"Our results from the second quarter reflect our strategic evolution from a leader in IT e-commerce to a provider of a full complement of web-based IT management solutions for corporations worldwide," said CEO Peter Jackson in a prepared release.

In the quarter, online service and technology sales rose to $6.5 million, up 117 percent from the $3 million it recorded in the year-ago quarter.

Last quarter, Intraware beat the Street estimate when it lost $10.1 million, or 40 cents a share, on sales of $41.5 million.

Intraware shares moved up to a 52-week high of $99 in December before plunging to a low of $5.25 in August.

All five analysts following the stock rate it a "buy."

Analysts expect it to lose $1.93 a share in the fiscal year.