jumped in late trading Tuesday after the maker of copper electrical wire beat Wall Street's first-quarter earnings forecast. The company's earnings rose to $16.1 million, or 68 cents a share, from $1 million, or 4 cents a share, a year ago. Analysts polled by Thomson First Call expected earnings of 61 cents a share. Sales rose 84% to $252 million from $137.2 million, which the company attributed to higher wire prices and an 18% rise in unit sales. Wall Street had anticipated sales of $223.1 million. Encore Wire shares rose $3.90, or 9.7%, to $44.24 in after-hours trading.
shares jumped after the electronics manufacturing company narrowed its fiscal second-quarter loss and offered a higher-than-expected third-quarter earnings forecast.
Sanmina posted a loss of $103.4 million, or 20 cents a share, for the quarter ended April 2, including a $112.2 million charge related to debt retirement. A year earlier, Sanmina recorded a loss of $1.04 billion, or $1.99 a share, including a $600 million goodwill impairment charge and other items. Excluding items, net income for the second quarter rose to $30.5 million, or 6 cents a share, from $29.3 million, or 6 cents a share, a year ago. On this basis, earnings matched analysts' expectations. Sanmina reported $2.67 billion in sales, down from $2.89 billion a year ago but slightly higher than analysts' forecast of $2.66 billion.
For the third quarter, Sanmina sees earnings of 8 cents to 10 cents a share, before items. The company predicts revenue of $2.7 billion to $2.8 billion. Analysts project earnings of 7 cents a share and revenue of $2.77 billion. Shares gained 57 cents, or 14%, to $4.61 after hours.
rose 10% after the company' reported higher-than-expected revenue and offered a bright guidance. The chip outfit said it swung to a first-quarter profit of $2.2 million, or 2 cents a share, from a year-ago loss of $8 million, or 6 cents a share. Revenue increased 31% to $87.9 million. Analysts were looking for the company to post income of 2 cents a share on revenue of $84.5 million.
Looking ahead, TriQuint forecast second-quarter earnings of 3 cents to 4 cents a share, before items. The company said it expects second-quarter revenue to increase 8% to 10% from the first quarter amid increased sales of wireless phones and broadband products. The projection implies revenue of $94.9 million to $96.7 million. Analysts project earnings of 2 cents a share and revenue of $86.1 million. Shares rose 52 cents, or 10%, to $5.65 in late trading.
( SIRF) shares tumbled after the semiconductor company missed Wall Street's first-quarter earnings forecast by a penny. The company swung to a loss of $10.4 million, or 19 cents a share, from a year-earlier profit of $1.6 million, or 3 cents a share. Excluding items, earnings were $9.3 million, or 17 cents a share, up from a comparable profit of $3.4 million, or 7 cents a share, a year ago. Revenue rose to $52.7 million from $27 million. Analysts were looking for earnings of 18 cents a share on revenue of $52.4 million. Shares fell $4.75, or 12%, to $33.95 in after-hours trading.
( SGTL) dropped after the specialty chipmaker reported a wider-than-expected first-quarter loss and offered disappointing guidance. The company posted a loss $24.7 million, or 69 cents a share, on $33 million in sales for the quarter. Excluding charges for stock options and amortization, SigmaTel would have reported a loss of $21.8 million, or 61 cents a share. Analysts were expecting an adjusted loss of 57 cents a share and sales of $32.6 million. A year earlier, SigmaTel earned $25.5 million, or 68 cents a share, on sales of $99.3 million.
For the second quarter, SigmaTel forecast a loss of 50 cents to 57 cents a share, before items, on sales of $40 million to $46 million. Analysts had forecast a loss of 36 cents a share and a top line of $44.7 million. Shares fell 44 cents, or 5%, to $8.40 in late trading.
slipped after the maker of workforce-management software missed Wall Street's first-quarter earnings expectations. The company reported a loss of $1.1 million, or 5 cents a share, reversing a year-earlier profit of $200,000, or 1 cent a share. Excluding stock-based compensation, the company posted earnings of $500,000, or 2 cents a share, below analysts' target of 5 cents a share. Revenue increased to $24.7 million from $20.1 million, compared with Wall Street's target of $24.3 million.
Looking forward, the company said it expects revenue to increase by 20% to 23% in 2006 from a year ago. Shares dropped 23 cents, or 1%, to $26 in late trading Tuesday.
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