said its second-quarter results will be substantially higher than expected on cost-cutting and higher gross margins.
The company, which designs and manufactures explosive detection devices for use in the airline industry, now expects to earn at least 48 cents a share, up from 17 cents a share in the first quarter. The company's most recent forecast called for at least 25 cents a share, while analysts polled by Thomson Financial/First Call had been looking for 33 cents.
InVision also said it expects revenue of about $68 million, up from $33.2 million in the first quarter. The company said the growth was due to sales to the U.S. Transportation Security Administration.
Shares of InVision were recently trading up almost 10% on the news to $26.77 after closing at $24.38 Friday.