The fourth consecutive profitable quarter cheered investors of MicroStrategy Inc. last week and pushed the business software company's stock price up 34 percent, making it one of the week's biggest local gainers.
The McLean-based software maker on Thursday reported a profit of $4.6 million in the fourth quarter, compared with a loss of $24 million in the same period in 2001. Revenue fell to $41 million, from $44 million. Just two years ago, the company was forced to restate three years of earnings. Since then, it has laid off employees and restructured its business to regain profitability.
Shares of MicroStrategy closed Friday at $20.78.
The Washington Post-Bloomberg regional stock index closed last week at 159.72, up 0.52 points. The NVTC Potomac Tech 60, which tracks 60 local technology companies, closed at 537.98, down 2.18.
Shares of software developer Vastera Inc. rose 18 percent after the Dulles company reported lower losses for the fourth quarter. The company lost $508,000 in the fourth quarter, compared with a loss of $7.6 million in the year-ago period. Revenue was $19.7 million, up from $19.5 million in the year-earlier period. Vastera, which makes software to help companies manage international trade, said it closed 21 deals in the quarter, 11 with new clients and 10 with existing clients.
Shares of Vastera closed Friday at $5.14.
Narrower fourth-quarter losses at Atlantic Coast Airlines Holdings Inc. did not stop its stock from falling 21 percent, making it one of the week's biggest local decliners. Atlantic Coast, which operates commuter flights for United Airlines and Delta Air Lines, said it lost $970,000 in the quarter, compared with a loss of $1 million in the same period of 2001. Revenue rose 31 percent, to $204.3 million, from $156.1 million as ridership rose 44.2 percent. The airline's stock closed Friday at $10.
Shares of Chantilly government contractor GTSI Corp. fell 16 percent after it reported flat earnings and revenue in the fourth quarter. The computer and peripherals reseller reported revenue of $280.1 million, compared with $280 million in the year-earlier period. It blamed sluggish growth on the prospect of war in Iraq and the delay by Congress in passing a fiscal 2003 budget -- most of GTSI's business is with the federal government. Net profit was $5.1 million, compared with $5 million in the fourth quarter of 2001.
GTSI's stock closed Friday at $10.15.