Early Stocks in Motion
Ingram Micro (IM) reported net income $48.4 million, or 29 cents a share, for the third quarter, down from $77.3 million, or 49 cents a share, a year ago. Excluding items, the company earned $60 million, or 36 cents a share, topping analysts' expectation of 31 cents a share. The distributor of technology products said revenue for the quarter rose 16% to $6.96 billion from $6.02 billion last year. Wall Street predicted revenue of $6.95 billion. The stock was down 14 cents, or 0.8%, to $17.95 after hours.
RealNetworks (RNWK) swung to a third-quarter profit $11.2 million, or 6 cents a share, compared with a loss of $7 million, or 4 cents a share, a year ago. Excluding items, RealNetworks earned $14.7 million, or 8 cents a share. The digital media and software company said revenue rose 20% to $82.2 million from $68.3 million last year. Analysts, on average, expected a profit of 4 cents a share, before items, on sales of $82.17 million.
"We continue to make great progress with strong year-over-year revenue growth, increased profitability and a base of more than 2.2 million paid subscribers, including 1.3 million paid music subscribers," said Rob Glaser, chairman and CEO. Looking ahead, the company anticipates fourth-quarter earnings of $1.42 to $1.48 a share on revenue of $81 million to $85 million. Wall Street had targeted fourth-quarter earnings of $1.48 a share and revenue of $88 million. Shares were lower by 36 cents, or 4.4%, to $7.92 in after-hours trading.
Sierra Wireless (SWIR) reported a narrower-than-expected loss of $3.1 million, or 12 cents a share, for the third quarter, compared with earnings of $7.1 million, or 27 cents a share, a year earlier. Analysts projected a loss of 22 cents a share. Revenue for the quarter slipped to $27.4 million from $59.1 million, but beat Wall Street's estimate of $24.4 million. In July, the wireless company predicted a loss of $5.7 million, or 22 cents share, on sales of $24 million. The stock gained 50 cents, or 4.4%, to $11.75 after hours.
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