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The Best And Worst Technology Company Stocks In 2017

Thirty-two of the 42 of the technology companies on our watch list recorded gains in the price of their publicly traded shares in 2017. Here's a look at who gained and who didn't.

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Carbonite

CEO: Mohamad Ali

Dec. 30, 2016: $16.40

Dec. 29, 2017: $25.10

Change: +53.05%

Carbonite, a developer of cloud-based data backup and recovery services, expanded its services portfolio into high-availability and data migration with the January acquisition of the Double-Take Software assets from Vision Solutions. That represented the second major acquisition for Carbonite, which bought EVault and its disaster recovery and business continuity services in December 2015.

The acquisitions accelerated Carbonite's evolution from a supplier of data backup for consumers to providing a range of data management and protection services for small and midsize businesses.

For its third quarter ended Sept. 30, Carbonite reported revenue of $61.6 million, up nearly 19 percent from $51.9 million in the third quarter of 2016. But the company reported a loss of $3.6 million for the quarter compared with net income of $107,000 in the same quarter one year earlier.

For the first nine months of 2017, Carbonite reported revenue of $177.8 million, up nearly 16 percent from $153.5 million in the first nine months of 2016. The company reported a loss of $2.4 million for the nine months compared with a $3.4 million loss in the same period one year earlier.

 
 
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