Phone.com, Inc. (Nasdaq: PHCM) climbed 12 1/16 to 100 7/16 Friday after the company, which makes software that connects wireless telephones to the Internet, reported better-than-expected results for the fourth quarter and year ended June 30th.
The Redwood City, California-based company said fourth-quarter revenue jumped 327 percent from a year earlier to $28.7 million, while it lost $8.0 million, or 10 cents per fully diluted share, before charges. For the year, the company lost $22.8 million, or 33 cents per share, before charges, compared with a pro forma loss of $19.8 million, or $1.42.
Chairman and Chief Executive Officer Alain Rossmann said the company has more than tripled its customer base to more than 77 and “significantly expanded” its offerings through seven acquisitions. “We are very excited by the opportunity ahead of us,” Rossmann said.
After the report, Robertson Stephens analyst Marianne Wolk raised her estimate for Phone.com’s earnings this year to 38 cents per share from 32 cents, and boosted her 2001 estimate to 68 cents per share from 49 cents.
The company, she said, “will experience tremendous growth over the next year, as most, if not all, of its 77 carrier customers enter full-scale deployment.”