Portal Software (Nasdaq: PRSF) gained US$1 to reach $8 in morning trading Tuesday after announcing a pair of contracts,including an agreement with Nokia Networks.
Nokia will use Portal’s Infranet platform as an “integral component” of itsNokia Charging Center product. Portal chief executive officer John Littlesaid that makes the agreement “significant” for his company.
“Nokia isclearly a key company to work with in the wireless market,” he said.
Also Tuesday, Portal said that Time Warner Cable has licensed its Infranetcustomer management and billing service for its broadband cable services.
The agreement allows Time Warner Cable to manage pricing and other “businessrules” for the different broadband Internet service providers (ISPs) that use itssystems.
Infranet can support the business requirements associated with TimeWarner’s move to allow multiple ISPs access to its systems, said CyndeeEverman, vice president of operational support systems at Time Warner Cable.
According to Everman, Portal’s effective partnership with Time Warner Cable’s software suppliers made Portal “the clear choice.”
Time Warner Cable’s selection of Infranet for its multiple ISP projectdemonstrates Portal Software’s ability “to support multiple businessmodels and branded services on a single platform,” said Portal vice president Steve Sommer.
Portal, based in Cupertino, California, reported a 108 percent rise infourth-quarter revenue to $81.1 million. Income before extraordinary itemsincreased to $6.9 million, or 4 cents per share, from $369,000, orbreakeven.
The company posted a net loss for the latest quarter of $18million, or 11 cents per share, including $24.9 million in costs related tothe November acquisition of Solution42.