Comverse Technology Up on Results

By TSC Staff ,

Comverse Technology (CMVT) was up 6% in preopen Island trading after the Israeli telecommunications software maker posted first-quarter earnings of 43 cents a share, beating analysts' estimates by 1 cent and up from 32 cents a share a year ago. Revenue rose 36% to $365 million.

The company said earnings were boosted by new orders and expanding market share in wired and wireless markets.

Salomon Smith Barney

this morning raised its recommendation on the stock to buy from outperform.

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