BroadSoft Inc. (NASDAQ: BSFT) today announced that its fourth-quarter 2010 revenue grew by 85%. The company also provided forecast for its first quarter of the current fiscal year and guidance for full-year 2011.
BroadSoft�s quarterly revenue stood at $35.8 million compared to revenue of $19.3 million in the fourth quarter of last year, beating analyst estimates of $32 million. BroadSoft also announced its net income for the quarter at $11.2 million, or $0.41 per share, compared to $375,000, or $0.05 cents per share, in the previous year quarter.
For the first quarter ending this month, BroadSoft said it expects adjusted earnings of $0.04-$0.11 per share, and revenue of $27 million to $29 million; for full-year 2011, the company said it expects adjusted earnings of $0.56-$0.66 per share.
In combination with the positive forecast for the first quarter, shares climbed on word that Jefferies analyst George Notter maintained his Buy rating on the stock, saying the stock has room to grow, perhaps most notable from the “very large and open-ended opportunity” with LTE, or Long Term Evolution, technology.
BroadSoft offers VoIP application software. The company serves both the residential and corporate market. The company combines various types of VoIP applications on a single platform. The company�s products are used for various purposes. BroadSoft also provides various services such as certification and training. The company was formed in 1998 and is based out of Maryland.
The company stock is currently trading at $43.74, up 25.36% from its previous close. BroadSoft stock opened at $41.48 and touched the high of $44.67. The stock�s lowest price in today�s session is $41.31. The company stock�s EPS is ($0.11). The company stock has traded in the range of $7.34 and $44.67 during the past 52 weeks. The company�s market cap is $1.08 billion.
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