Wednesday's Early Winners & Losers
Looking ahead, the company projects 2007 revenue that will be just about in line with that of 2006, and before-tax income ranging between $4.4 million and $4.6 million. Shares were up $2.87, or 23.4%, to $15.12.
Optium (OPTM) gained on impressive results for the quarter ended Oct. 28. The Chalfont, Pa.-based company, which makes optical parts for telecom and cable systems, posted GAAP earnings of $2.8 million, or 13 cents a share, compared with $377,000, or 2 cents a share, a year ago. Revenue surged 114% to $30 million.
According to Thomson Financial, the analyst who follows the company was looking for 12 cents a share. In the next quarter, Optium expects GAAP income of 12 cents to 14 cents a share on revenue between $32 million and $34 million. Shares were up $1.37, or 6.9%, to $21.20.
Connecticut-based Phototronics (PLAB) jumped on rising profits for the fourth fiscal quarter that shot past Wall Street estimates, its disappointing full-year results notwithstanding.The company, which makes semiconductor parts, earned $9.8 million in the quarter, or 21 cents a share, compared with $8.7 million, or 19 cents a share, a year ago. Analysts had called for income of 16 cents a share. Sales were up 3.1% to $115.3 million, a figure that also beat the $111.9 million consensus estimate. Fiscal full-year profits, however, dropped to $29.3 million, or 66 cents a share, on revenue of $454.9 million, compared with $38.7 million, or 95 cents a share, last year. The revenue represents a 3.2% rise from last year and narrowly beat analysts' mean projection of $451.3 million, but earnings fell 11 cents short of estimates. Shares, however, were up 94 cents, or 6%, to $16.72.
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