Tech Industry

Roundup: Serena, Internet America, World Access

Serena Software (Nasdaq: SRNA) hurdled the consensus forecast in the first quarter.

After market close Wednesday, e-business infrastructure software and services provider reported first quarter net income of $5.2 million, or 13 cents per share, excluding amortization. Including writedowns of intangible assets, Serena earned $4.7 million, or 12 cents per share.

First Call's survey of three analysts predicted a profit of 9 cents per share for the quarter ended April 30.

Revenue in the first quarter increased to $21.2 million, up 49 percent year-over-year. Quarterly oftware license revenue rose 68 percent over the same period to $11.6 million. Maintenance generated $8.4 million in revenue, a 58 percent gain from the year ago period.

"We continue to execute well against our plan to deliver an integrated software change management solution for managing changes to mission critical eBusiness applications running across multiple platforms from the mainframe to the Web," said Mark Woodward, CEO and President. "Our customers are confirming our vision as exhibited by several large sales this quarter, including enterprise wide licenses with two Fortune 50 companies."

Other companies reporting quarterly results Wednesday:

  • Internet America
  • (Nasdaq: GEEK) lost more than analysts expected in the third quarter and said it would restate results for the previous two quarters.

    The Dallas, Tex.-based Internet service provider reported a third quarter net loss of $4 million, or 41 cents per share. Aanlyst consensus predicted a loss of 34 cents per share, with estimates ranging from 22 cents to 40 cents, according to Zack's Investment Research.

    Revenue in the third quarter rose 86 percent year-over-year to $8.8 million. Subscribers rose 94 percent over the same period to 153,000.

    First and second quarter revenue would be restated to adjust for a data processing error that resulted in some deferred revenue being reported as access revenue. Internet America's losses for each of those quarters was 4 cents per share higher than previously reported.

  • World Access
  • (Nasdaq: WAXS) saw increased losses and higher revenue in the first quarter.

    After market close Wednesday, the provider of retail and carrier communications services reported a net loss of $17.8 million, or 33 cents per share from continuing operations, compared to $2.5 million, or 7 cents per share, in the year ago period.

    Cash loss per share came in at 11 cents. First Call consensus predicted a loss of 12 cents per share.

    Revenue increased 200 percent year-over-year ot $255.5 million. Carrier services generated $239.3 million. Retail saw revenue of $16.3 million.

    Also Wednesday, World Access named Brian Yokley its new chief financial officer, replacing Mark Gergel, who was named executive vice-president of corporate development.>