NEW YORK ( TheStreet) -- Shares of Callidus Software (CALD) leapt to their best levels in more than two years Friday after the Pleasanton, Calif.-based maker of salesforce management software posted a surprise profit for the September quarter, and at least one analyst is saying they still look like a bargain.
After Thursday's closing bell, Callidus said it earned $400,000, or a penny per share, in the three months ended Sept. 30 on a non-GAAP
Third-quarter revenue swelled 8% on a sequential basis to $18.5 million as recurring revenue from subscriptions and support increased 18% to $13.2 million, or roughly 72% to total revenue. Gross margins were a bright spot as well, rising to 46% in the latest quarter from 40% in the second quarter, and 37% last year.
Wall Street was looking for a loss of 2 cents a share in the quarter on revenue of $17.5 million.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV