MetaSolv Software, Inc. (Nasdaq: MSLV) rose 38 percent after it announced earnings for its third quarter would be on target with analysts' expectations.
Shares in the maker of order management and service fulfillment software were up 7.38 to 27.38
Based on a preliminary review of third quarter results, MetaSolv said revenues are expected to be at least $35 million, with earnings of at least 10 cents per diluted share. That will exceed current analysts' estimates, which range from $33 million to $33.9 million in revenues with consensus earnings of 9 cents per diluted share, according to First Call.
"MetaSolv's revenues and earnings for the third quarter and first nine months of 2000 reflect continuing acceptance of our Telecom Business Solution software within the communications industry," said CEO Jim Janicki in a release. He added that, though it isn't the company's usual practice to preannounce results, it did so in light of recent publicity and concerns about the communications industry.
MetaSolv's third quarter earnings release is scheduled for October 18.