Avici Systems Leaps as it Beats Estimates
TSC Staff
07/20/01 - 08:57 AM EDT
Network router maker
Avici Systems (AVCI Quote) was up 10.5% after the company posted a second quarter loss of 23 cents a share, 1 cent better than analysts' estimates and narrower than the year-ago loss of 48 cents.
Revenue rose to $21.4 million from $2.2 million a year ago, again beating analysts' estimates of between $18 million and $19 million.
In April, the company said it expects to become profitable by the middle of next year.
Shares of
Cisco (CSCO Quote) the leader in the router maker business, were down 1.5%.
