Lionbridge Technologies Inc. (LIOX: Quote) Tuesday reported a profit for the first quarter compared to a loss last year, driven mainly by a double-digit growth in revenues.
The Waltham, Massachusetts-based company's first-quarter net profit was $1.72 million or $0.03 per share, compared to a net loss of $5.45 million or $0.09 per share last year.
For the quarter, the company reported an adjusted net income of $3.87 million or $0.06 per share, compared to an adjusted loss of $1.67 million or $0.03 per share in the prior-year quarter.
On average, five analysts polled by Thomson Reuters expected loss of $0.01 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew 12 percent to $112.10 million from $99.65 million in the prior-year quarter. Five analysts had a consensus revenue estimate of $104.17 million for the quarter.
Looking ahead, the company anticipates second-quarter revenues in the range of $113 million to $116 million. Analysts currently expect the company to generate revenues of $113.88 million for the quarter.
by RTT Staff Writer
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