| Earnings Scorecard |
| Actual | Estimated* | Year-Ago |
| $0.01 | $0.01 | $-0.04
|
 |
Inktomi(INKT Quote - Cramer on INKT - Stock Picks) said Thursday that its fiscal first-quarter earnings met Wall Street's lowered expectations, but told analysts afterward to cut their near-term expectations.
The scalable software applications maker said it earned $1 million, or 1 cent a share, excluding charges, in the first quarter, up from a loss of $4 million, or 4 cents a share, in the year-ago period. Nineteen analysts polled by
First Call/Thomson Financial were calling for Inktomi to earn a penny in the quarter, down from the recently lowered projection of 3 cents a share.
Revenue more than doubled to $80.5 million from $36.1 million in the equivalent period last year.
The company also said it agreed to sell its commerce business to
e-centives, an online direct marketer, for up to 19.9% of e-centives' shares outstanding.
Published reports indicated that Inktomi expects to incur a "modest loss" in the next two quarters, while analysts are expecting the company to earn 2 cents a share in the second quarter and 5 cents in the third quarter, according to First Call.
Shares of Inktomi, which is based in Foster City, Calif., closed at $17.50 in the regular
Nasdaq session and rose to $18.50 in recent after-hours
Island activity.
TSC Staff
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