Shares of MetaSolv Software (Nasdaq: MSLV), which provides order management and fulfillment solutions for the telecommunications industry, headed skyward on their first day of trading. Pre-IPO demand was high, as the company priced five million shares at $19 a share, up from a revised price range of $15 to $17, and well above the original range of $12 to $14. Shares of Metasolv closed up 36 to 55 on Thursday, a gain of more than 189 percent
Metasolv looks like a solid company. For one thing, it’s an Internet company that is actually profitable, with earnings of $1.2 million on revenue of $27.2 million in the first three quarters of this year, compared to a loss of $1.7 million on revenue of $13.2 million in the same period last year. In addition, Metasolv has a strong customer base that includes Ameritech, BellSouth, GTE, and Qwest Communications
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