Ness Technologies, Inc. EPS declines 30%, but beats Street
Shares of Ness Technologies, Inc. (Nasdaq: NSTC), are edging higher in pre-market trading this morning after the global provider of IT services and solutions, reported second quarter earnings above the Street’s estimates, despite a decrease from last year.
For the three months ended June 30, the Hackensack, NJ.-based company reported that net income declined $1.8 million or 30%, to $4.2 million, or $0.13 per share, compared with net income of $6.0 million, or $0.18 per share in the second quarter of 2006. Despite, a decrease from last year, Ness was able to beat analyst estimates. Eight analysts polled by Thomson Financial expected earnings of $0.11 per share
Revenues were $125.8 million, an increase of 8%, compared with $116.6 million in the second quarter of 2006.
Shares of Ness climbed 5.51%, or $0.70, to $13.40 in pre-market trading.
