Lycos, Inc. (Nasdaq: LCOS) rose 3 1/8 to 61 1/16 Wednesday after the portal company reported better than expected results for the fourth quarter ended July 31st.
Lycos, based in Waltham, Massachusetts, said income before items in the quarter totaled $13 million, or 12 cents per share, compared with a loss of $3 million, or 4 cents, in the year-earlier quarter. Analysts were looking for earnings of 8 cents per share. Revenue for the quarter rose 89 percent to $88 million.
“This was an exceptional year for the company, with this most recent period marking the 18th consecutive quarter during which we met or exceeded consensus estimates,” said President and Chief Executive Officer Bob Davis. Operating margins rose to 13 percent in the fourth quarter from 8 percent in the third, with page view growth of 36 percent, Lycos said.
Davis said plans for the company’s merger with Terra Networks SA are “right on track,” and that the transaction should be completed in October.