Vicinity tops 3Q forecasts as sales jump 204 percent

Vicinity posted a smaller-than-expected loss in its third quarter Wednesday, dropping $4.5 million, or 18 cents a share, on sales of $4.3 million.

First Call Corp. consensus predicted the provider of Internet-based marketing infrastructure services would lose 20 cents a share in the quarter.

Ahead of the earnings report, Vicinity (Nasdaq: VCNT) shares closed off 1 1/2 to 18 1/2.

The $3.3 million in sales marks a 204 percent improvement from the year-ago quarter when it lost $1.8 million, or 45 cents a share, on sales of $1.4 million.

"The achievements during the April 2000 quarter provide testimony to the fact that Vicinity is the Internet-based marketing solution of choice for more Global 2000 brands than any other Internet information infrastructure services company," said CEO Emerick Woods in a prepared release.

Last quarter, Vicinity missed analysts' estimates, losing $4.1 million, or 70 cents a share, on sales of $3.3 million.

Its shares soared up to a high of 76 1/4 in March before plummeting to a low of 9 1/2 in April.

All three analysts following the stock rate it a "strong buy."

First Call Corp. consensus sees Vicinity losing 70 cents a share in the fiscal year.

It competes with the likes of MapQuest (Nasdaq: MQST) and Infonow (Nasdaq: INOW).

Vicinity is based in Palo Alto, Calif.