Foundry Sees 'Robust' First Half

The company guides in line with expectations.
Author:
Publish date:

Foundry (FDRY) shares rose slightly Thursday after the company posted solid earnings and offered mostly bullish guidance.

For its third quarter ended last month, the San Jose, Calif., computer networking shop earned 11 cents a share on sales of $102.5 million. That compares to a 15-cent profit on $101.7 million in revenue in the year-ago period. Analysts had expected earnings of 11 cents a share on $103.5 million in sales.

Looking ahead to the fourth quarter, Foundry forecast earnings of around 12 cents a share on sales of about $107 million. Analysts had expected a 13-cent profit on sales of $109 million.

Shares closed up 5% Thursday and rose an added 2% to $11.04 in after-hours trading.

"We are pleased that sequential revenue growth resumed in the third quarter," CEO Bobby Johnson said in a press release Thursday. "Given the current level of activity in our development pipeline, we expect new product introductions to remain robust through the first half of 2005."