Datawatch swings to a profit in 4Q; shares up 28%

NEW YORK, Nov. 27, 2007 (Thomson Financial delivered by Newstex) -- Shares of Datawatch Corp. (NASDAQ:DWCH) rose Tuesday after the company said it swung to a profit in its fourth quarter.

The Chelmsford, Mass.-based information management company said net income rose to $829,000, or 14 cents a share, and revenue increased 29% to $6.9 million.

In the year-ago period, the company posted a net loss of $530,000, or 10 cents a share, on revenue of $5.3 million.

Datawatch said its results were helped by a reorganization of the business. In October, the company said that Robert Hagger, its president and chief executive, would retire on Dec. 31. Ken Bero, the company's operating chief and senior vice president of sales, was appointed to succeed him.

Shares of Datawatch rose 28% to $6.15 on Tuesday.

Ryan Vlastelica
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