NEW YORK (CNNfn) - A pair of Internet software firms posted strong gains in their first day of trading Friday, continuing a long-running streak of successful Web-related initial public offerings.
WebTrends Corp. (WEBT), a Portland, Ore.-based maker of Internet management software, jumped to 36 in midday trading, a 177-percent gain from its offering price of 13.
Vignette (VIGN), also a Web software maker, soared to 47-15/16, or 152 percent, from its offering price of 19.
WebTrends' flagship product, WebTrends Professional Suite, allows businesses to determine who is accessing their Web site and what pages visitors view most often.
Unlike many Internet-related firms that have staged successful IPOs, WebTrends is profitable, posting 1998 net income of $219,000 on $8 million in revenue.
No profits in sight
Austin, Texas-based Vignette develops software to allow businesses to personalize private Web pages with data for individual clients.
In an SEC filing, the company disclosed a 1998 net loss of $26.2 million, or $1.46 a share, on a pro-forma basis. The company gave no indication of when it expects to be profitable.
"We have not achieved profitability and we expect to incur net losses for the foreseeable future," Vignette said in its filing. "To date, we have funded our operations from the sale of equity securities and have not generated cash from operations."
WebTrends and Vignette continued a streak of successful Internet-related IPOs in 1999. In January, MarketWatch.com Inc. (MKTW) soared 474 percent in its debut, and Tut Systems Inc. (TUTS) rose 219 percent in its first day of trading.