Sapient posts higher 2Q profit

Technology consulting company Sapient Corp. said Thursday its second-quarter profit and revenue jumped sharply, beating Wall Street's expectations.

The company earned $11.6 million, or 9 cents per share, up from $847,000, or 1 cent per share, in the same period a year earlier. Adjusted earnings, which exclude stock options costs and other items, were 13 cents per share in the latest quarter.

Revenue rose 28 percent to $170.3 million from $133.1 million.

Analysts, on average, were expecting a profit of 6 cents per share on revenue of $158.4 million, according to a poll by Thomson Financial. The estimates include stock options costs.

Shares rose 71 cents, or 10 percent, to $7.78 in after-hours electronic trading. The stock had closed down a penny at $7.07.

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