En Pointe Hits a Double
En Pointe Technologies (ENPT) saw its shares more than double after it swung to a profit in the fiscal fourth quarter.
The company, a provider of hardware, software and IT services, had net income for the quarter of $1.5 million, or 21 cents a share, compared with a loss of $300,000, or 5 cents a share, a year ago.
Shares were soaring $3.11 to $5.75 in premarket trading Friday -- a gain of more than 100%.
Overall product revenue declined by $9 million, or 12.1% year over year, to $65.2 million in the fourth quarter. However, service revenue remained constant at $13.2 million.
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