Net Earnings Roundup: Scient, BackWeb top estimates - News

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This story was printed from ZDNet Australia.
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Net Earnings Roundup: Scient, BackWeb top estimates

October 13, 2000
URL: http://www.zdnet.com.au/news/soa/Net-Earnings-Roundup-Scient-BackWeb-top-estimates-/0,139023165,120104445,00.htm

E-business consulting firm Scient charged past Street estimates in its fourth quarter, posting a profit of US$3.4 million, or 4 cents a share, on sales of US$65.8 million.

Analysts were looking for a profit of 2 cents a share in the quarter.

Ahead of the earnings report, Scient (Nasdaq: SCNT) shares closed off 1/16 to 51 5/8.

The US$65.8 million in sales marks a 600 percent explosion from the year-ago quarter when it lost US$2.3 million, or 5 cents a share, on sales of US$9.4 million.

For the year, Scient posted a loss of US$2.6 million, or 4 cents a share, on sales of US$155.7 million, up 650 percent from fiscal 2000 when it lost US$4 million, or 9 cents a share, on sales of US$20.7 million.

"By every measure, we believe this was a landmark quarter for Scient," said CEO Bob Howe in a prepared release. "In addition to reporting accelerated revenue growth and continued rapid expansion of our global business, we are also pleased to report profitability for the first time this quarter."

Scient shares moved up to an all-time high of 133 3/4 in March after bottoming out at 13 7/8 shortly after its initial public offering in May.

All 21 analysts following the stock maintain either a "buy" or "strong buy" recommendation.

Among other Internet firms reporting earnings Wednesday:

BackWeb, a push software provider, reported a first quarter loss of US$1.7 million, or 5 cents a share, on revenue of US$8.9 million. Sales were up 117 percent from a year ago. The results beat estimates by a penny.

Cheap Tickets reported a first quarter profit of US$2.3 million, or 10 cents a share, topping estimates by 3 cents a share. Earnings were up from a penny a share a year ago. Revenue jumped 65 percent to US$100.1 million. Gross bookings jumped to US$156.1 million, with Internet bookings accounting for US$60 million. The company added 1.6 million registered users, bringing its total to 4.2 million.

EarthWeb reported a first quarter loss of 67 cents a share, compared to First Call estimates calling for a loss of 73 cents a share. Revenue for the quarter was to US$13.7 million, up 266 percent from a year ago.

Modem Media checked in with a first quarter loss of US$3 million, or 13 cents a share, including goodwill costs related to an acquisition. The Internet services firm reported sales of US$28.5 million, up 130 percent from the prior year period. Earnings before interest, taxes and amortisation of goodwill (EBITA) was break even on a per share basis.

iVillage reported a first quarter net loss of US$25.2 million, or 85 cents a share, on sales of US$20.8 million. Revenue was up 8 percent from the fourth quarter. iVillage reported an EBITDA loss of approximately US$14.3 million. Wall Street expected a loss of 94 cents a share.