Lionbridge Technologies moves to 1Q profit

Language service company Lionbridge Technologies moves to 1Q profit, helped by lower charges

Associated Press

WALTHAM, Mass. (AP) -- Website services provider Lionbridge Technologies Inc. moved to a first-quarter profit, in part because it spent less on one-time items, including restructuring, as its revenue rose.

The company, which provides communication services, including translation and customization of products for local markets, earned $1.7 million, or 3 cents per share, for the quarter that ended March 31. That compares with a loss of $5.4 million, or 9 cents per share, a year earlier.

Excluding a restructuring charge and other one-time items, Lionbridge said it earned 6 cents per share, compared with adjusted earnings of 9 cents per share a year earlier. It recorded a charge of $284,000 for "restructuring and other charges," compared with $2.1 million in last year's first quarter.

The adjusted earnings figure beat analysts' average forecast, according to FactSet, for 3 cents a share.

Revenue for the three months that ended March 31 climbed 12 percent to $112.1 million from $99.7 million. This topped Wall Street's forecast for $104.4 million in first-quarter revenue.

Lionbridge expects second-quarter revenue of $113 million to $116 million. Analysts predict revenue of $115.1 million, according to FactSet.

Shares of the Waltham, Mass. company gained 23 cents, or 8.6 percent, to close Tuesday at $2.92. Over the past year, the stock has traded between $1.94 and $3.63.

Rates

View Comments (0)