Learn2.com's sales skyrocket in fourth quarter

Learn2.com Inc. (Nasdaq: LTWO) posted a smaller-than-expected loss in its fourth quarter Tuesday, losing $4.4 million, or 8 cents a share, on sales of $7.3 million.

Analysts were expecting a loss of 10 cents a share in the quarter.

Its shares closed up 3/8 to 6 5/8 ahead of the earnings report.

In the year-ago quarter, Learn2.com lost $822,000, or 4 cents a share, on sales of $1 million.

For the year, Learn2.com lost $9.3 million, or 24 cents a share, on sales of $13.6 million compared to a loss of $8.8 million, or 49 cents a share, on sales of $2.7 million in fiscal 1998.

"Our efforts over the past year have focused on the fundamental elements necessary to build our business," said CEO Stephen Gott in a prepared release. "We have created a company dedicated to the e-learning market."

Its shares fell to a low of 2 11/16 in early March before scampering up to a 52-week high of 10 one week later.

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