BroadSoft 2Q profit, outlook shoot past estimates

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GAITHERSBURG, Md. (AP) ? Internet-based communications software company BroadSoft Inc. said Monday that it posted a second-quarter net income, reversing a loss from a year ago, as revenue shot up 63 percent.

Net income for the three months through June 30 hit $15.8 million, or 57 cents per share, compared to a loss of $1.8 million, or 20 cents per share, a year ago.

Excluding a $9.9 million tax benefit in the quarter and other special items, adjusted earnings came to 29 cents per share, blowing past the 12 cents per share expected on that basis by analysts polled by FactSet.

Revenue rose to $32.2 million from $19.8 million a year ago, also beating the $28.8 million expected by analysts.

BroadSoft said it expects third-quarter earnings of 20 cents to 23 cents per share on revenue of $31 million to $33 million. That beat the expectation of analysts, who were looking for 14 cents per share of earnings on revenue of $29.7 million.

BroadSoft shares rose $2.30, or 9.7 percent, to close at $26 in the regular session following the early morning release of results, despite a steep downturn in the broader market. Shares gained another 60 cents, or 2.3 percent to $26.60 in after-hours trading.