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Earnings Roundup: FirePond delivers in 3Q

FirePond easily topped analysts' estimates in its third quarter Wednesday, posting a loss of $1 million, or 3 cents a share, on sales of $17.3 million.

First Call Corp. consensus expected the software developer to lose 14 cents a share in the quarter.

FirePond (Nasdaq: FIRE) shares closed up 1/8 to 19 7/8 ahead of the earnings report.

In the year-ago quarter, FirePond lost $5.9 million, or 22 cents a share, on sales of $8.7 million.

"We expect revenue growth to continue by winning against limited point solutions that cannot pass the tests of a large organization selling complex products through multiple channels," said CEO Klaus Besier in a prepared release. "In addition, we expect the strong demand for the FirePond application suite, particularly in Europe and Asia, to continue."

FirePond shares soared up to an all-time high of 108 shortly after its March initial public offering before falling to a low of 14 in April.

Both analysts following the stock maintain a "buy" rating.

Analysts expect it to lose 48 cents a share in the fiscal year.

Among other technology companies reporting earnings Wednesday:

  • Vicinity (Nasdaq: VCNT) met analysts' estimates in its fourth quarter, losing $4.5 million, or 17 cents a share, on sales of $5 million.

    Its shares closed up 1/4 to 14 ahead of the earnings report.

    For the fiscal year, Vicinity lost $15.4 million, or $1.08 a share, on sales of $15.2 million compared to a loss of $5.5 million, or $1.67 a share, on sales of $6.4 million in fiscal 1999.

    Analysts expect it to lose 17 cents a share in fiscal 2001.