Tech Industry

BroadVision delivers strong sales, earnings in 2Q

BroadVision doubled the Street estimate in its second quarter Thursday, earning $10.6 million, or 4 cents a share, on sales of $95.3 million.

A survey of analysts by First Call Corp. predicted the application software developer would earn 2 cents a share in the quarter.

BroadVision (Nasdaq: BVSN) shares closed up 4 9/16 to 45 3/8 ahead of the earnings report.

The $95.3 million in sales represents a staggering 300 percent improvement compared to the year-ago quarter when it pocketed $3.3 million, or 1 cent a share, on sales of $23.5 million.

"These positive results reaffirm that BroadVision is the solution enterprises trust to power their e-businesses," said CEO Pehong Chen in a prepared release.

In the quarter, BroadVision added 161 new licensed customers in the quarter, bringing the total number to 920 accounts across vertical markets worldwide.

Last quarter, it easily hurdled analysts' estimates when it posted a profit of $10 million, or 4 cents a share, on sales of $61.5 million.

BroadVision shares split 3-for-1 in March after racing up to a 52-week high of 93 1/4. The stock fell to a low of 6 13/16 last July.

Twenty-six of the 29 analysts tracking the stock rate it either a "buy" or "strong buy."

First Call Corp. consensus expects the Redwood City, Calif. company to earn 11 cents a share in the fiscal year.