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Click Commerce Is Pounded
By TSC Staff
8/8/2005 5:09 PM EDT
Shares of Click Commerce (CKCM:Nasdaq - commentary - research) tanked after hours Monday as a tripling in second-quarter earnings wasn't enough for a stock that went from $5 to almost $27 in a year.
The Chicago-based business software company earned $3.2 million, or 27 cents a share, in the quarter, up from $1.2 million a year ago. Adjusted to eliminate various charges, Click Commerce earned $4 million, or 33 cents a share, in the second quarter of 2005. That was 6 cents short of the sole analyst estimate compiled by Thomson First Call.
Revenue rose 115% from a year ago to $13.3 million, above the single-analyst estimate of $12.6 million.
Click ended the quarter with $11.8 million, down from $11.9 million at the end of the first quarter, and said accounts receivable rose by $3.6 million to $15.8 million during the quarter.
The shares lost $4.67, or 17.6%, to $21.80 in after-hours trading.