Commerce Planet Foresees Near 55% Increase in Revenue
Shares of Commerce Planet (OTCBB: CPNE) were up 7 cents, nearly 9 percent, to 89 cents Monday afternoon, moving on volume of 1.1 million. Today the company announced it expects second-quarter revenue to increase 48 percent to 55 percent, as compared to the same period last year. In a statement, the Internet-based media company said it expects revenue for the period ended June 30, 2007, to increase to $10.5 million, up from $7.1 million the year prior. "We are pleased with our preliminary results for the second quarter, which reflect the success of our initiatives to increase the quality of…