Foundry Networks

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posted fourth-quarter earnings Wednesday that beat estimates that were drastically lowered in December.

The maker of networking switches and routers posted earnings of 17 cents a share on revenue of $105.1 million. In December, Foundry

warned that per-share earnings would be between 11 cents and 14 cents. Analysts at the time were expecting 24 cents a share, and their most recent consensus estimates were 12 cents a share, according to

First Call/Thomson Financial

.

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In the year-ago quarter, Foundry earned 12 cents a share on revenue of $55.1 million.

Foundry said the client base grew by 300 during the quarter.

During regular

Nasdaq

trading, Foundry closed Wednesday at $20.94, up $1.06, or 5.4%, for the day. In after-hours

Island

trading, the company rose further recently to $22.56.