FreeMarkets posts healthy profit

NEWS B2B software company FreeMarkets reported record fourth quarter and full fiscal year results for the period ended 31 December. Revenues for Q4 were $47.6m, an increase of 38 per cent over the same period last year and 17 per cent up on the Q3 2001. The company reported an operating profit of nearly $4m, or nine cents a share, compared to a loss of 27 cents per share in the same period in 2000.