Based in Pittsburgh, DynaVox makes speech-generating devices and related software. When the company initially warned about first-quarter demand in late September, it withdrew a guidance offered in August where it forecast sales growth of 14-17% for fiscal 2011 with adjusted earnings projected between 56 and 62 cents a share. In Thursday's press release, it updated investors on its expectations for the year, saying it now sees a sales decline of 10-15% and adjusted earnings of 21 to 27 cents a share.
Meantime, Nvidia ( NVDA) was a winner in afterhours action, rising almost 4% to $13.11 on volume of 1.7 million. The Santa Clara, Calif.-based maker of graphics chips edged analyst views for its fiscal third-quarter profit, although revenue came in just short, but also told Wall Street it expects to see sequential growth of 3-5% in its fiscal fourth quarter ending in December.
Based on its third-quarter total of $843.9 million, that growth outlook implies a revenue range of $869 million to $886 million for the fourth quarter, ahead of the current average estimate of analysts polled by Thomson Reuters for revenue of $866.1 million. "We have turned the corner," pronounced Jen-Hsun Huang, the company's president and CEO, in a statement. "We have restored our speed of execution and are regaining share in desktops." Nvidia shares finished the regular session at $12.61, down 32% so far in 2010; although at that level the stock had already seen a 46% bounce off its August 12 52-week low of $8.65. -- Written by Michael Baron in New York. >To contact the writer of this article, click here: Michael Baron. >To submit a news tip, send an email to: firstname.lastname@example.org