Top Performer for Friday: Saba (SABA)April 24, 2009 | Comments : 0 Recommended this article: (0)
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Late last month, the company announced fiscal third-quarter results, which included earnings per share that easily surpassed both the consensus and year-ago performance. This marked the second straight quarter of better-than-expected results.
Meanwhile, total revenues declined slightly to $26.1 million from $27.4 million a year earlier.
"During the third quarter, we continued to improve the overall profitability of the company as well as our operating cash flow," stated Chairman and CEO Bobby Yazdani. "Our focus remains profitable growth, customer success and building our distribution channels worldwide."
Over the past month, both covering analysts raised Saba's earnings estimates for the fiscal year ending May 2009, sending the consensus higher by 62.5% to 13 cents from 8 cents.
Estimates for next fiscal year, ending May 2010, are up 38.5% in that time frame, which is also the amount of profit growth that analysts currently expect over this fiscal year.
Saba is the only company from the Internet Software industry on today's Zacks #1 Rank List, which includes 211 stocks.
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