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Rogue Wave beats Street but sales growth stalls

Rogue Wave Software posted a smaller-than-expected loss in its second quarter Tuesday, losing $112,000, or 1 cent a share, on sales of $13 million.

First Call consensus expected it to lose a nickel a share in the quarter.

Ahead of the earnings report, Rogue Wave (Nasdaq: RWAV) closed off 3/4, or 10 percent, to 6 3/4.

The $13 million in sales marks a lackluster 3 percent improvement from the year-ago quarter when it earned $1.1 million, or 10 cents a share, on sales of $12.6 million.

"While we met street expectations, the major accomplishments this quarter were in the finalizing of our new product and marketing strategies, and the hiring of Jack Iacobucci as President and CEO, who will oversee the successful execution of these plans," said outgoing CEO Bruce Coleman in a prepared release.

Last quarter, Rogue Wave posted a loss of $507,000, or 5 cents a share, on sales of $12.6 million.

First Call consensus expects it to lose 3 cents a share in the fiscal year.

Rogue Wave shares hit a 52-week high of 12 7/8 in February after falling to a low of 4 3/8 in November.

All three analysts following the Boulder, Colo.-based company maintain a "hold" recommendation.>