Business

CDC Software raises 2009 earnings estimate

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ATLANTA (AP) — Hong Kong’s CDC Software Corp. raised its profit estimate for 2009 results Monday as revenue from licensing grows.

Shares jumped 53 cents, or 5.1 percent, to $10.99 in morning trading.

The business software provider expects to report $20.5 million to $21.5 million in earnings, up from a previous forecast of $17.2 million to $19.3 million.

It also provided its first adjusted earnings per share estimate of $1.25 to $1.27. On average, analysts polled by Thomson Reuters were looking for earnings of $1.20 per share.

The company, which provides a range of different software that allows businesses to streamline their operations, said it has seen growth in all of its markets.

Earlier this month, CDC said it estimates fourth-quarter licensing revenue was up to $10.3 million from $7.6 million in the quarter before.