shares moved higher Wednesday after the software and Internet company reported third-quarter financial results and provided forward-looking guidance.
The China-based company reported adjusted net income of $10.1 million, or 9 cents a share, up from $3.2 million, or 3 cents a share, in third quarter of 2005.
On a GAAP basis, the company earned $3.1 million, or 2 cents a share, compared with the GAAP net loss of $1.2 million it reported a year ago. Analysts were expecting earnings of 6 cents a share.
The company generated US$78.2 million in revenue, an increase from the $61.9 million it posted in the prior-year period and in line with the analyst estimate. By division, CDC Software generated $61.4 million in revenue, up 22.5% from last year; and China.com Inc. posted $16.9 million in revenue, a 42.3% increase over last year.
For the full year, CDC anticipates adjusted earnings of $32 million to $33.3 million, with revenue of $303 million to $307 million. For fiscal 2007, the company projects earnings of $55 million to $60 million and revenue of $401 million to $411 million.
Shares closed Wednesday up 73 cents, or 10.3%, at $7.80.