Thursday, February 28, 2008 swings to profit as sales jump 50%

San Francisco-based which sells hosted business software via Internet subscription, also raised its revenue outlook for the full fiscal said net income for the period ended in January rose to $7.38 million, or 6 cents a share, compared with $516,000, or break-even, in the period a year earlier. Meanwhile revenue rose 50% to $216.9 million.Analysts have been estimating would post earnings of 4 cents a share for the quarter, on $208.9 million in revenue, according to FactSet Research."By any measure, the fourth quarter was amazing," Chief Executive Marc Benioff said during a conference call with analysts. said its number of subscribers, a closely watched metric, rose by more than 450,000 to roughly 1.1 million during the year.Shares of rose nearly 8% to $56.80 in after-hours trading following the earnings report. said it is raising its revenue outlook for fiscal 2009, to between $1.03 billion and $1.035 billion.

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