BroadSoft beats estimates, raises outlook

Reuters News
Posted: May 07, 2012 7:58 AM
BroadSoft beats estimates, raises outlook

(Reuters) - Internet communications company BroadSoft Inc's quarterly profit beat estimates as revenue from new licenses grew 40 percent, and it raised its full-year profit outlook.

The company, which sells software that enables voice and multimedia Internet communications, now expects a profit of $1.22 to $1.32 per share, excluding items, for the full year, up from its previous forecast of $1.18 to $1.30 per share.

Net income fell to $1.7 million, or 6 cents per share, from $3.7 million, or 13 cents per share, a year ago.

Excluding items, BroadSoft earned 29 cents per share.

Total revenue rose 29 percent to $38.3 million. Revenue from licenses, which account for a little more than half of total revenue, rose to $21.3 million.

Analysts, on average, expected an adjusted profit of 23 cents per share, on revenue of $37 million, according to Thomson Reuters I/B/E/S.

The company's shares, which closed at $40.89 on Friday on the Nasdaq, have climbed 65 percent since a low of $24.85 on January 4.

(Reporting by Sayantani Ghosh in Bangalore; Editing by Maju Samuel)