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Beyond.com soars after landing $120 million contract

Beyond.com Inc. (Nasdaq: BYND) rose 5 13/16 to 23 1/4, up 33 percent, on Friday after landing a role in a contract with the Internal Revenue Service worth about $120 million.

The online software retailer, along with Microsoft Corp. (Nasdaq: MSFT) and Intellisys Technology Corp. (Nasdaq: ISGP), was awarded from the Internal Revenue Service a 65-month contract worth about $120 million to deliver and maintain Microsoft software.

The deal is Beyond.com's largest contract to date.

The IRS has contracted the delivery of Microsoft software licenses to 130,000 IRS desktops. Beyond.com will be electronically delivering copies of Windows NT Server among other Microsoft products.

The sales will be spread out over the length of the contract. About $5.5 million in revenue will be recognized by year-end, boosting the company's porjected annual sales by about four percent.