Strong sales of equipment for cable television reception lifted
fourth-quarter earnings well above analysts' forecasts.
The company earned $47.4 million, or 31 cents a share, on sales of $404.2 million in the quarter. Analysts surveyed by First Call were expecting earnings of 19 cents a share on revenue of $363.6 million. The company lost $15.7 million, or 10 cents a share, on sales of $390.1 million in the year ago period. The year-ago quarter included a $55 million charge for bad debt.
Scientic-Atlanta said sales of subscriber products like set-top boxes and cable modems rose 15% to $284.6 million, while sales of transmission products fell 17% to $100.1 million. Satellite product sales of $19.5 million were down 18% from a year ago.
The shares were unavailable for after-hours trading after closing at $25, down 84 cents, or 3.2%.