Updated from Aug. 17
shares were soaring Wednesday after the company said Tuesday after the bell that first-quarter earnings jumped a stronger-than-expected 73% from last year, driven by strong sales in the Asia-Pacific region.
The company's shares were recently up $1.75, or 10.1%, to $19.14.
The data-storage equipment maker earned $46.9 million, or 13 cents a share, in the three months to July 30, up from $27.1 million, or 8 cents a share, last year. Pro forma earnings in the 2004 quarter also were 13 cents a share.
Revenue for the quarter rose to $358.4 million, compared with $260.5 million for the same period a year ago. It was up 6% from $337 million in the prior quarter.
Analysts were looking for earnings of 12 cents a share on revenue of $353 million.