UPDATE 1-Lionbridge Q4 loss narrows, shares rise
(Recasts, adds details, share movement)
Feb 26 (Reuters) - Lionbridge Technologies Inc (LIOX.O: Cotización), which provides language, content and technology outsourcing services, posted a narrower quarterly loss as revenue jumped 16 percent, and its shares rose 17 percent.
The company said it secured several new client programs, including a multi-year, multi-million dollar deal with a large U.S. financial institution and a new contract with a provider of computer-based education testing services during the quarter.
For the fourth quarter, the company reported a net loss of $4 million, or 7 cents a share, compared with a net loss of $6 million, or 10 cents a share, a year ago.
Revenue for the quarter stood at $117.2 million.
Analysts on average were expecting earnings of 1 cent a share, on revenue of $108 million, according to Reuters Estimates.
For the first quarter, the company forecast revenue of $113 million to $116 million. Analysts were expecting $113.7 million.
Lionbridge, whose clients include Google Inc (GOOG.O: Cotización), IBM (IBM.N: Cotización), Microsoft Corp (MSFT.O: Cotización) and Motorola Inc MOT.N, said it still sees 2008 revenue rising 6 percent to 10 percent.
The company's shares, which had fallen 48 percent in the last one year before Tuesday's gains, were up 51 cents at $3.52 in morning trade. The stock was one of the top gainers on Nasdaq. (Reporting by Aditi Samajpati in Bangalore; Editing by Deepak Kannan)
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