NaviSite tops analyst expectations

NaviSite Inc., an information technology services provider, said Monday it expects sales to slightly exceed Wall Street estimates for the fourth quarter, and for 2007 and 2008.

The company projected sales of $33.5 million to $34 million for its fourth quarter ending in July. Analysts polled by Thomson Financial expect revenue of $33.4 million.

Earnings before interest, taxes, depreciation and amortization for the quarter are expected to range from $6.3 million to $6.8 million.

For the full fiscal year, NaviSite anticipates sales of $125 million to $125.5 million, with EBITDA of $22.8 million to $23.3 million. Analysts expect 2007 sales of $123.8 million for the year.

For fiscal 2008, NaviSite projects sales of $140 million to $150 million. The consensus estimate among Wall Street analysts is $139.4 million in sales.

The company also announced the appointment of Rathin Sinha as chief marketing officer. Sinha was most recently general manager of eBusiness at Monster.com, a job listings site.

Shares of NaviSite fell 90 cents, or 13.2 percent, $5.90 in the after-hours session, after adding 10 cents to $6.80 in regular trading. The stock has ranged from $3.33 to $7.22 over the past year.
(AP)