Bell Micro Shares Surge
Bell Microproducts (BELM) saw its shares rise after the company posted an 8% increase in first-quarter revenue.
The company, a distributor of semiconductors, computer platforms and peripherals, said revenue reached $867 million, up from $804 million a year ago.
Earnings, excluding the effect of stock-based compensation expenses, totaled $2.9 million, or 10 cents a share. Including items, Bell earned $2.5 million and 8 cents a share, vs. $4.4 million and 15 cents a share a year ago.
Analysts surveyed by Thomson Financial were expecting a profit of 8 cents and revenue of $844.7 million.For the second quarter, revenue is expected to be $810 million to $840 million, with earnings of 7 cents to 11 cents a share, excluding estimated compensation costs of about 1.5 cents. The consensus Wall Street targets are 7 cents a share for earnings and $827.7 million for revenue. Shares of Bell were higher by 96 cents, or 16.9%, to $6.65.
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