Why Straight Path Communications (STRP) Stock Is Higher Today

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.

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The company cites an increase in license agreements for its patents, including deals with  Google  ( GOOG) and Sony ( SNE).

STRP Chart

STRP data by YCharts

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