Thursday's Early Winners & Losers
Sierra Wireless (SWIR) surged more than 10% in after-hours trading Wednesday as the maker of wireless-communications products more than doubled its fourth-quarter profit to $2.4 million, or 9 cents a share, on revenue of $68.3 million. A year ago, the Canada-based company earned $911,000, or 4 cents a share, on sales of $37.6 million. Wall Street was looking for earnings of 7 cents a share on $66.2 million in revenue, according to Thomson Financial. Shares were adding $1.48 to $15.92.
Net1 UEPS Technologies (UEPS) jumped on word that its universal electronic payment system will be used in Grindrod Bank's new retail banking division and that Net1 will additionally assist the South African bank in implementing the business plan and operations. Net1 will be paid fees contingent on the amount of business that uses its technology. Specific monetary terms weren't disclosed. South Africa-based Net1 was gaining $1.70, or 6.3%, to $28.80.
FormFactor (FORM) rose after its fourth-quarter results flew by estimates. The semiconductor-component maker reported a profit of $18.9 million, or 39 cents a share, compared with $10.5 million, or 25 cents a share, a year ago. Revenue shot up 37% to $98.7 million. Analysts were looking for income of 31 cents a share on sales of $95.1 million. Shares of the Livermore, Calif., company were up $1.35, or 3.32%, to $42.
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