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Vignette hits third-quarter targets

Vignette met analysts'' estimates in its third quarter Wednesday, posting a loss of $9.1 million, or 1 cent a share, on sales of $110.4 million.

First Call Corp. consensus expected the developer of e-business application software to lose a penny a share in the quarter.

Vignette (Nasdaq: VIGN) shares closed off $5.19 to $29.19 ahead of the earnings report.

The $110.4 million in sales marks a 355 percent jump from the year-ago quarter when it lost $7.4 million, or 5 cents a share, on sales of $24.2 million.

"This quarter, we continued our strong execution and extended our market leadership position," said CEO Greg Peters in a prepared release. "Our revenue growth is very robust, our balance sheet is solid, we had numerous strategic customer wins and we solidified key strategic partnerships with some of the world''s leading technology companies."

Last quarter, Vignette earned $1.4 million, or 1 cent a share, on sales of $77.1 million.

The stock moved as high as $100.63 in March before falling to a low of $18.38 earlier this month.

All 16 analysts tracking the stock maintain either a "buy" or "strong buy" recommendation.