beat Wall Street's earnings expectations for the third quarter.
The company, which operates an electronic business-to-business marketplace, reported income, excluding the amortization of intangibles and nonrecurring charges, of $28.8 million, or 12 cents a diluted share, compared with $10 million, or 6 cents a share, for the same period a year ago. According to a
First Call/Thomson Financial
survey, 34 analysts expected the company to earn 10 cents a share for the quarter.
Revenue for the quarter totaled $319.5 million, a 32% increase from the second quarter, when revenue totaled $242.6 million. The company reported revenue of $146.3 million in the year-ago third quarter.
Additionally, the company's board approved a 2-for-1 stock split, payable around Dec. 4.