NEW YORK (TheStreet) -- Shares of Straight Path Communications (STRP) are up 11% to $10.49 after it reported strong third quarter financial results on Monday night.
Net income was $121,000 for the there months ended April 30 compared to a loss of $880,000 int the third quarter a year ago.
Third quarter total revenue rose to $913,000 up from $285,000 in the period a year ago.
Must Read: Warren Buffett's 25 Favorite Growth Stocks
The company cites an increase in license agreements for its patents, including deals with Google ( GOOG) and Sony ( SNE).