NetManage posts strong Q4
Software company NetManage, Inc. (Nasdaq: NETM) today reported robust financial results for the fourth quarter.
For the three months ended Dec. 31, 2007, the Cupertino, Calif.-based company recorded net income of $1.7 million, or $0.17 per share, compared with a net loss of $916,000, or $0.10 per share, in the same period last year.
Net revenues increased 27% to $10.9 million, compared with $8.7 million in the fourth quarter of 2006.
During the quarter, the company said it received new and renewed business from such customers as AIG, Brick Warehouse LP and Rogers Communication.
The small cap reiterated its previous announcement on Dec. 12, 2007, that Rocket Software, Inc., a privately held corporation, is acquiring NetManage. The small cap noted however that the due diligence has been completed for the acquisition and that more time will be required to syndicate the financing.
Shares of NetManage (NETM) popped 13.02%, or $0.66, to $5.73 in pre-market trading. Shares of NetManage have been trading in the range of $3.60 to $6.99 for the past 52 weeks.
