The company expects its 2019 fiscal year profit to range $3.60 to $4.85 a share and revenue to total between $520 million and $560 million.
The consensus estimates for the year are for $3.96 in EPS and $526.9 million in revenue.
Second-quarter revenue was $138.8 million, down 1% from $139.6 million in the year-earlier quarter. GAAP net income was $14 million, or 79 cents a share, down 69% from $45.5 million, or $2.41, a year earlier.
Chairman and CEO Ken McBride said in a statement: "During the second quarter we continued to make progress on our efforts to evolve our strategy to more fully embrace a global multicarrier business model. ... Our financial results for the second quarter were in line with our expectations in light of our new strategic direction."
"Sentiment goes from blatantly negative to modestly encouraging" after the "death march" of the prior two earnings calls, Craig-Hallum analyst George Sutton wrote in a note to clients, according to Bloomberg News.
Sutton upped his rating to buy and raised his price target to $60 from $48.
The company ended Thursday up 27% at $58.98, a day after reporting second-quarter results.