Posts Tagged ‘nasdaq’

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BroadSoft Inc. (BSFT) leaps on earnings forecast

Monday, August 8th, 2011

BroadSoft Inc. (Nasdaq: BSFT) shares jumped 13.6% to $26.93 after the telecommunications-software maker’s forecast 2011 earnings that topped Wall Street’s consensus estimate. Volume of 4.4 million shares trounced a daily average of less than 700,000.

A news release out Monday, August 8 proclaimed that the Gaithersburg, Maryland-based BroadSoft achieved revenues increased 63% year-over-year to $32.2 million, that license revenue increased 82% year-over-year to $19.2 million

Net income for the second quarter of 2011 was $15.8 million, or $0.57 per diluted common share, compared to a net loss of ($1.8) million, or $(0.20) per basic and diluted common share, for the second quarter of 2010. In addition, GAAP results for the second quarter of 2011 included an income tax benefit of $9.9 million, or $0.36 per diluted common share, resulting from the release of a tax valuation allowance relating to net deferred tax assets.

BroadSoft CEO Michael Tessler was quoted in the same release as saying, “We continue to see demand across our product line grow globally, helping drive our record second quarter financial results. We believe our financial performance for the first half of 2011 demonstrates our ability to execute our long-term strategy of enabling our customers to deliver innovative, real-time communications services to their subscribers.”

For the full year 2011, BroadSoft is increasing its guidance and now expects revenue of $127.0 to $130.0 million, reflecting growth of 33% to 36% over 2010 revenue of $95.6 million.

BroadSoft provides software that enables mobile, fixed-line and cable service providers to deliver voice and multimedia services over their IP-based networks.

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Web.com Group Inc. (WWWW) goes buying, stock rockets

Thursday, August 4th, 2011

Web.com Group Inc. (Nasdaq: WWWW) shares got 31.4% worth of lift to $11.38 late Thursday morning, on Q2 results and acquisition news. Volume for the stock topped 1.4 million shares, compared with a daily average of 421,000.

A Reuters story out August 4 reported that the e-commerce company agreed to buy website services provider Network Solutions to fuel growth, and posted quarterly profit above estimates.

The story also noted that Web.com, which provides web marketing products to small businesses, said purchasing Network Solutions would triple its customer base to about three million subscribers and give significant cross-sell and up-sell opportunities.

Web.com, based in Jacksonville, Florida will pay $405 million in cash, issue 18 million common shares and refinance Network Solutions’ net debt.

Second-quarter profit was helped by a 73% surge in its subscription revenue.

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Global Traffic Network Inc. (GNET) takes flight on takeover bid

Wednesday, August 3rd, 2011

Shares of Global Traffic Network Inc. (Nasdaq: GNET) rose 19.5% to $13.95 after the provider of personalized news information agreed to be purchased by private-equity firm GTCR LLC. Volume for the stock Wednesday was well in excess of two million shares, trouncing a daily average of less than 131,000.

A news release issued August 3 revealed that the Toronto-based company, a leading provider of custom traffic and news reports to radio and television stations outside the United States, announced the proposed takeover.

Under the terms of the agreement, Global stockholders will receive $14.00 in cash for each share of Global’s common stock, which represents approximately a 20% premium over the closing price on Tuesday, August 2, and a 22.7% premium based on the 60-day volume weighted average price of $11.41.

The Company operates the largest traffic and news network in Australia, operates traffic networks in eight Canadian markets and the largest national radio traffic network across the United Kingdom. In exchange for providing custom traffic and news reports, television and radio stations provide Global Traffic Network with commercial airtime inventory that the Company sells to advertisers. As a result, radio and television stations incur no out-of-pocket costs when contracting to use Global Traffic Network’s services.

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Green Mountain Coffee Roasters Inc. (GMCR) perks on profit picture

Thursday, July 28th, 2011

Green Mountain Coffee Roasters Inc. (Nasdaq: GMCR) shares advanced 16.2% to $102.39 after the brewing machine seller projected 2012 profits that exceeded estimates. Volume for the stock surpassed 8.5 million shares, compared to a daily average of 2.5 million.

After the close of Wednesday’s trading, the company put out a news release stating that net sales for the third quarter of fiscal 2011 increased 127% to $717.2 million as compared to $316.6 million for the third quarter of fiscal 2010.

Under Generally Accepted Accounting Principles (GAAP), net income for the third quarter of fiscal 2011 totaled $56.3 million, or $0.37 per diluted share, representing an increase of 206% as compared to GAAP net income of $18.4 million, or $0.13 per diluted share, for the third quarter of fiscal 2010.

The company’s CEO, Lawrence Blanford stated in the same release, “In addition to continued strong consumer adoption of the Keurig® Single-Cup Brewing system, we believe our third quarter benefitted from our first-ever significant spring advertising and brand support programs, designed to raise awareness of the Keurig Single-Cup Brewing system and of our Brew Over Ice™ Teas and Coffees, perfect for the summer months.”

Blanford concluded, “It is particularly rewarding to think that with our growth, the resources we’re able to allocate to socially and environmentally focused initiatives grows as well, amplifying the positive change GMCR and its employees.”

Based in Waterbury, Vermont, Green Mountain Coffee Roasters, Inc. is recognized for its award-winning coffees, innovative brewing technology, and socially responsible business practices

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Questcor Pharmaceuticals Inc. (QCOR) perks on Q2 bottom line

Wednesday, July 27th, 2011

Questcor Pharmaceuticals Inc. (Nasdaq: QCOR) shares rallied 24.1% to $32.26 after the drug developer late Tuesday reported second-quarter income above expectations. Volume for the stock totaled 6.7 million shares, or nearly seven times its daily average.

An AP story quoted the Anaheim-based drug company as saying Tuesday that its profit jumped 49% in the second quarter as a strong pickup in prescriptions of the multiple sclerosis treatment H.P. Acthar Gel helped boost revenue to record levels.

The company reported net income of $13.9 million, or 21 cents a share, for the three months ended June 30. That compares with net income of $9.3 million, or 14 cents a share, in the same period last year.

Excluding certain non-cash expenses, the company’s earnings amounted to 23 cents a share, Questcor said.

Revenue grew by 62% to $46 million, versus $28.3 million a year earlier.

Analysts polled by FactSet were expecting, on average, net income of 20 cents a share on a profit of $42.1 million.

AP also said Questcor’s shipments of vials of Acthar rose 45% during the quarter versus a year earlier. They were up 21% from the first quarter’s tally.

The company said prescriptions for Acthar to treat multiple sclerosis more than doubled compared with the same quarter last year.

Prescriptions for the drug as a treatment for other conditions, including infantile spasms, also surged.

“Our focus on expanding the use of Acthar in the treatment of MS exacerbations drove our record second quarter financial performance,” AP piece quoted Don Bailey, Questcor’s president and Chief Executive, as saying.

As a result, the company is expanding its nephrology selling effort, he added.

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