Shares of Versant (VSNT) were among technology's winners Wednesday, vaulting 36% after the software company said it swung to a third-quarter profit and raised its full-year earnings forecast.
For the period ended July 31, the company earned $1 million, or 28 cents a share, on revenue of $3.8 million. A year earlier, the company posted a loss of $14.4 million, or $4.04 a share, on revenue of $3.5 million. "Record quarterly income, strong cash flow and an increase in maintenance backlog are very good news in any quarter," Versant said. "Given the fact that our third quarter is typically a weaker quarter, we are exceptionally pleased with these results."
Looking ahead, Versant now sees full-year earnings of $3.5 million, or $1 a share. Previously, the company expected earnings of $2.6 million to $2.9 million. Shares recently were trading up $2.24 to $8.42.
Micros Systems (MCRS) soared 19% after the software maker posted fourth-quarter results that topped analyst forecasts. For the period ended June 30, the company earned $21.4 million, or 53 cents a share, on revenue of $191.8 million. Excluding items, the Micros earned $23.4 million, or 58 cents a share. Analysts polled by Thomson First Call expected earnings of 51 cents a share and revenue of $184.6 million. During the year-earlier period, the company earned $18.1 million, or 45 cents a share, on revenue of $172 million.For the first quarter, Micros predicts adjusted earnings of 38 cents to 41 cents a share on revenue of $170 million to $173 million. Analysts project earnings of 39 cents a share on revenue of $169.7 million. Shares were trading up $7.50 to $46.94.