Priceline.com Posts First-Quarter Profit

Priceline.com Inc. had net income of $3.89 million as the third-largest U.S. Internet travel seller reined in expenses to post its second quarterly profit since going public three years ago.

First-quarter net income of 2 cents a share contrasted with a loss of $13.8 million, or 7 cents, a year earlier. But sales fell 2.9% to $261.9 million, disappointing analysts.

Priceline.com said pro forma earnings, excluding restructuring costs, were $5.27 million.

Shares of Norwalk, Conn.-based Priceline.com rose 2 cents to $5.25 on Nasdaq. Its shares fell as much as 11% after the close of regular markets, when results were released.