Astea International Inc. (Nasdaq: ATEA) may not exactly be a household name but the price surge and volume spike alone should have traders, speculators, and small-cap investors busy today and well into next week. The company is a “provider of service lifecycle management and mobility solutions” and it is up big after earnings.
For its December 31, 2010 quarter, Astea reported a 27% gain in revenues to $7.1 million and next income rose more than 200% to $1.2 million or $0.34 EPS.
Software license revenues of $2.6 million were 58% higher than the same period in 2009. Service and maintenance revenues were $4.5 million compared to $4.0 million for the same period in 2009.
Astea noted that it has expanded its market opportunity and global presence and claimed to be more optimistic about the economic environment for the service management market space than it has been in past quarters. It further noted an increased momentum in new customer acquisitions and accelerated growth in its pipeline.
In less than 25 minutes we have shares up a whopping 85% at $7.40 on more than 700,000 shares. This one hit a new 52-week high of $7.64 today and even after this pop the company’s market cap is a mere $26.6 million. Stay tuned.
JON C. OGG