PurchasePro.com Easily Tops Expectations
PurchasePro.com
(PPRO)
, a business-to-business software maker, reported fourth-quarter earnings that easily beat Wall Street's expectations, as revenue rose sharply from both the year-ago period and the latest third quarter.
The company, which is based in Las Vegas, said earnings rose to $7.6 million, or 11 cents a share, excluding noncash charges and a one-time gain. On the same basis, the company lost $6.1 million, or 11 cents a share, in the same quarter a year ago.
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Analysts expected the company to lose a penny a share, according to
First Call/Thomson Financial
.
PurchasePro's revenue for the quarter ended Dec. 31 rose to $33.6 million, up 94% from $17.3 million in the latest third quarter. The company had revenue of $2.7 million in the year-ago fourth quarter.
