Cary technology business SciQuest reported another quarter of steady sales gains.
The company helps drug makers, universities, government agencies and others buy goods more cheaply online.
During the first quarter, revenue rose to $12.5 million, up 24 percent from a year earlier. Some of that gain was tied to SciQuest's acquisition of a Texas company, which also helped boost its customer count to 313, nearly double the total of a year ago.
But net income fell to 2 cents a share from 9 cents a share, partly because of compensation and acquisition-related costs.
"We continue to see strong activity levels in all of our target markets," CEO Stephen Wiehe said in a prepared statement. "A solid first quarter put us on a firm foundation for what we expect to be a year of healthy growth."
SciQuest held an initial public offering of stock in September, one of the only Triangle companies to make a successful Wall Street debut during the recent rally. Last month, the company raised another $15 million in a secondary stock sale.
Wiehe has said he will consider additional acquisitions of complementary technologies or companies.
SciQuest shares fell 27 cents today to close at $13.97. The stock began trading at $9.50.
Wiehe will discuss the latest results at 5 p.m. Listen to a live webcast or replay here.