NEW YORK (Thomson Financial) - Lionbridge Technologies Inc. Tuesday reported
a first-quarter adjusted loss of $513,000, or a penny per share, slightly below
the mean estimate of analysts polled by Thomson Reuters for breakeven results.
In the same period a year earlier, the company posted an adjusted profit of
$4.4 million, or 7 cents a share.
Revenue totaled $117 million for the three-month period, up 8% from $108.6
million a year earlier and ahead of the average analysts' view of $115.2
million.
For the second quarter, Waltham, Mass.-based Lionbridge said it sees revenue
of $120 million to $140 million. Wall Street's current consensus estimate is for
revenue of $121.5 million in the June period.
The company also said it sees revenue growth at the high end of prior
outlook for 6% to 10% for the full year.
"As we begin the second quarter we are already experiencing a strong revenue
ramp," said Rory Cowan, the company's chief executive officer. "With this
growth, combined with the benefits of our cost reduction actions, and the
economists' forecasted strengthening of the US Dollar, we expect to accelerate
revenue and increase profitability for the remainder of 2008."
The stock closed Monday at $2.97.
Michael Baron
mb
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|