LONDON (04/19/2000) - Software maker Inktomi Corp. beat analyst predictions by reporting its first profitable quarter ever for the second fiscal quarter that ended March 31, 2000, the company reported yesterday.
Net income for the quarter was US$1.0 million, or 1 cent per share, compared with a loss in the second quarter of last year of $7.4 million and a loss of 7 cents per share, Inktomi said in a statement.
The mean forecast by 16 analysts participating in a First Call/Thomson survey was a loss of 2 cents per share.
Inktomi shares jumped $13.88 to $129.44 in midmorning trading on the Nasdaq exchange, even as the exchange slipped 59.49 points, or 1.56 percent. The flat Nasdaq trading this morning was ascribed by several market analysts to Intel Corp. earnings, reported yesterday, as not living up to investors' high expectations -- even though the chip maker beat analyst expectations. [See "Demand Boosts Intel's Q1 Revenue to US$8 Billion," April 18.]Inktomi, makers of Net search software and technology that helps to make Web browsing quicker, reported revenue for the second quarter of $47.3 million, up 211 percent over last year's second quarter revenue of $15.2 million.
At $30.8 million in revenue, the largest increase in sales came in Inktomi's Network Products Business, consisting of the company's Traffic Server, Content Delivery Suite and associated services, the company said. Revenue in that division alone, which made up about 65 percent of all company revenue for the second quarter, were up 250 percent from the second quarter last year and up 39 percent from the previous quarter, Inktomi said.
Inktomi, in Foster City, California, can be contacted at +1-650-653-2800, or at http://www.inktomi.com/.