Harbinger Corp, the Atlanta-based provider of e-commerce software and services, has reported first-quarter net income of $2.3m on revenue up 11.5% at $33.5m, compared to a net loss of $1.3m in the year-ago quarter. Earnings per share for the quarter were $0.06, beating the First Call consensus estimate of $0.03. Results for the year-ago quarter include one-time charges of $8.0m related to acquisition and restructuring activity.
Services revenue for the quarter rose 27.8% to $25.4m, while software sales dipped 20.3% to $8.1m. Gross margins were adversely affected by that shift, dropping to 64.9% from 74% a year ago. The company says active revenue-generating customers have risen to reach 38,500 at the end of the first quarter, while IP-based traffic over the company’s network nearly doubled over the last three months, from 8% in the fourth quarter to 15%.
