Lionbridge Pops after Positive Quarter

Shares of Lionbridge LIOX are seeing much strength during Tuesday's trading session after the company reported first quarter results which impressed investors. Lionbridge Technologies reported first-quarter EPS of $0.06 versus the estimated $-0.01 per share. Revenues came in at $112.1M versus the estimated $104.17M, beating by +7.6%. Non-GAAP adjusted earnings of $3.9 million or $0.06 per share, an increase of $5.6 million or $0.09 per share from the first quarter of 2011. The Company defines non-GAAP adjusted earnings as net income excluding restructuring and related costs, stock-based compensation and amortization of acquisition-related intangible assets. Please see the section of this release entitled "Non-GAAP Financial Measures" and the attached table for details and reconciliations of this measure to the comparable GAAP measure. During the quarter, the Company secured several new customer engagements, including agreements with a large pharmaceutical company, a leading food and beverage retailer and a luxury retailer. "Our strong first quarter results reflect positive momentum on all levels. As we bring new offerings to market and diversify our client base across industry sectors, we are scaling many large accounts and accelerating new business," said Rory Cowan, CEO of Lionbridge. "Our ongoing revenue and profit momentum underscores our commitment to growing our recurring revenue streams, broadening our client base and establishing new opportunities across the lifecycle of our clients' products and content." Currently, shares of Lionbridge are trading about 7% higher at $2.88 per share.