SAN FRANCISCO (Thomson Financial) - FalconStor Software Inc. late Thursday
reported fourth-quarter adjusted earnings of $7.4 million, or 14 cents a share,
ahead of the mean estimate of analysts polled by Thomson Financial of 13 cents.
During the year earlier, adjusted earnings were $5.1 million, or 10 cents a
share.
The Melville, N.Y.-based network storage software company posted net income
of $5.66 million, or 10 cents a share, up from $2.83 million, or 6 cents a
share, last year.
Revenue for the three months ended Dec. 31 came in at $24.8 million, topping
the consensus estimate of $23.5 million. Last year, revenue was $20.2 million.
For 2008, FalconStor said it expects adjusted earnings of 31 cents to 36
cents a share on revenue of $100 million to $104 million.
Additionally, the company said it approved the buyback of an additional 3
million shares, bringing its total share repurchase authorization to 5 million
shares.
The company's stock closed the regular session up 28 cents, or about 3.4%,
at $8.55. Shares rose an additional 7% in after-hours trading.
Katherine Hunt
kh
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