Stock Watch: PurchasePro Rises on Rosy Forecast

PurchasePro.com (Nasdaq: PPRO) rose 1 27/64 to 123 7/16 after the Las Vegas, Nevada-based B2B software maker said first-quarter results will be higher than analysts’ published estimates.

“We’re looking at a record quarter,” said Chairman and Chief Executive Officer Charles E. Johnson, Jr. Profit margins and cash on hand are strong, and the company has no long-term debt, he said. PurchasePro has vendor agreements with companies such as IBM, Sprint Corp. and Office Depot.

Analysts were expecting the company to lose 27 cents a share in the quarter ending March 31st, according to Zacks Investment Research.

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