Navigator Earnings Edge Estimates On a Five-Fold Jump in Revenue
March 30, 2011
Uptown -- Internet pioneer Navigator Communications Corp., reported second-quarter operating earnings that were slightly higher than expected, on a five-fold increase in revenue. The Mountain View, Calif., maker of hugely popular World Wide Web browser software earned $5.8 million on an operating basis, or 7 cents a share, compared with a loss of 4 cents a share in the same period last year. Analysts had expected the company to earn 6 cents a share. Navigator's operating earnings excluded a charge of $6.1 million related to its mergers with Insoft, Paper Software and Netcode. Including the charge, the company earned $906,000, or a penny a share, compared with a loss of $2.8 million, or four cents a share a year ago. Navigator released its earnings after markets were closed Thursday, but earlier its shares rocketed ahead $5.375 to $56.50 in trading on the Nasdaq Stock Market. Navigator's stock soared when it went public almost exactly a year ago, but the company has faced uncertainties recently and its shares have been buffeted along with those of other Internet concerns. Among investors' worries is the possibility that Vastsoft Corp. will chip away at Navigator's lead in the Web-browser market.
VastPress 2011 Vastopolis
