CyberSource shares leap 22 pct on 4Q profit beat

Shares of CyberSource Corp. surged more than 22 percent Friday on enthusiasm about the payment-software and services company's quarterly profit that topped Wall Street's projections.

The Mountain View, Calif.-based company had reported Thursday that net income was $10 million, or 14 cents per share, in the fourth quarter, which ended Dec. 31. That compares with the $1.2 million, or 2 cents a share, in profit from the year-ago period.

Excluding one-time charges, CyberSource earned 19 cents a share, three cents a share better than the average estimate of analysts polled by Thomson Reuters.

Sales grew 37 percent to $62.3 million, ahead of analysts' prediction of $59.2 million.

For all of 2008, CyberSource's sales nearly doubled to $229 million, while profit increased more than fourfold to $10.7 million.

The company, whose software and services are used for credit-card processing and other forms of payment processing, offered 2009 guidance in line with analyst estimates.

Sales in 2009 are expected to be between $258 million and $263 million. Analysts had been expecting $259.4 million. Profit, excluding one-time charges, is projected to be 72 cents a share to 74 cents a share. Analysts were predicting 73 cents a share.

Shares gained $2.25, 22.9 percent, to $12.08 in afternoon trading Friday.