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January 11, 2007
Backflips At IT Consultancy Sapient
Sapient shares rose on third-quarter results that topped estimates. The company is pulling itself out of the trough it fell into last Summer. apient posted non-GAAP income from operations of $7.1M, down from last year's $7.4M, with per-share earnings adding a penny to 7 cents. Analysts had exepected just 4 cents a share.
Sapient said that revenue went up to $111.5M from $84.3M a year ago, beating the consensus by about $9.3 million. The company also forecast that fourth-quarter operating margins will rise sequentially. Shares were bouncing 19 cents, or 3.2%, to $6.15.
Tech:stocker's outlook: The company is conducting a financial review here due to stock option accounting so there remains risk here but The Street will reward Sapient when the process is complete.
Posted by Paul at January 11, 2007 04:53 PM
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