M-Systems Raises Sales Forecast

They will top $170 million in the first quarter.
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M-Systems

(FLSH)

said it expects sales in its first quarter to exceed analysts' expectations, sending the stock up more than 6% in premarket trading.

The flash memory company expects sales to exceed the high end of its previous guidance, which called for $140 million to $170 million. Analysts surveyed by Thomson First Call were expecting sales of $156.9 million in the quarter.

M-Systems said first-quarter earnings, excluding items, will top its previous guidance for 16 cents a share. Analysts were expecting earnings of 21 cents a share, on average.

The stock jumped $1.71, or 6.5%, to $27.90 in premarket trading.