Internet America names new CEO

Internet America announced after the bell Tuesday that Jack Smith will become the Internet service provider's new chief executive officer.

Smith, who previously served as a member of the firm's board of directors, replaces Mike Maples who will remain with the company as a consultant.

Internet America (Nasdaq: GEEK) shares inched up 3/16 to 4 ahead of the announcement.

"Jack brings a wealth of management experience to the challenge of leading Internet America during a dramatic strategic shift from consumer dial- up services to providing integrated broadband services," said Chairman William Hunt in a prepared release.

Last quarter, Internet America met analysts' estimates when it posted a loss of $4 million, or 41 cents a share, on sales of $8.2 million.

First Call Corp. consensus expects it to lose 41 cents a share in the first quarter and $1.59 a share in the fiscal year.

Its shares peaked at 27 in December before falling to a low of 2 15/16 in August.

Both analysts following the stock rate it a "buy."