BOSTON (AP) -- Sapient Corp., which provides technology consulting, said Tuesday that its fourth-quarter profit soared 73 percent, boosted by a jump in service revenue.
The Boston-based company posted a fourth-quarter profit of $27.2 million, or 19 cents per share, up from $15.7 million, or 11 cents per share, in the same quarter last year.
Excluding one-time items, the company said its adjusted profit was 23 cents per share, up from 14 cents per share a year earlier.
Revenue rose 17 percent to $273 million from $232.5 million, as service revenue rose 18 percent to $262.2 million. Reimbursable expenses, which are also part of the company's total revenue, increased 12 percent to $10.8 million.
The results topped the average predictions from analysts for adjusted profit of 19 cents per share and revenue of $262.4 million, according to FactSet.
For the full year 2011, Sapient earned $73.6 million, or 52 cents per share, up from $43.8 million, or 32 cents per share, in 2010. Revenue rose to $1.06 billion from $863.5 million.
The company said it expects its first-quarter service revenue of $262 million to $266 million. For the year, the company expects service revenue to grow between 13 percent and 16 percent.
Sapient shares fell 17 cents to close at $12.91 before the earnings report. They fell another 22 after hours, and they've traded between $9 and $16.25 the past year.
