Keithley's Profits Ramp Up
First-quarter sales rise 5%.
Keithley Instruments
(KEI)
was advancing after the Solon, Ohio, electronic-instruments company beat analysts' second-quarter earnings expectations.
The company said sales rose 5% from a year ago to $39.7 million. Keithley earned $2.1 million, or 13 cents a share, including about $400,000, or 2 cents a share, in expenses for stock-based compensation. Last year's earnings totaled $3.2 million and 19 cents a share.
Analysts were looking for earnings of 9 cents a share on revenue of $36.9 million in the most recent quarter. The company also estimated third-quarter sales of $37 million to $41 million.
Shares of Keithley gained $1, or 6.8%, to $15.64 in recent trading.
