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Oak Technology Reaffirms Second-Quarter Revenue Forecast

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Oak Technology

(OAKT)

reaffirmed its second-quarter revenue forecast, in anticipation of "excellent market opportunities" in the digital media markets.

The optical storage and digital imaging company, based in Sunnyvale, Calif., said it expects revenue for the quarter ending Dec. 31 to grow by 15% to 20% from first-quarter revenue of $51 million.

Oak Technology expects operating income for the quarter to grow 6% to 10%. The company didn't provide estimates for earnings per share, but analysts on average expect the company to earn 10 cents a share in the second quarter, according to

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First Call/Thomson Financial

, compared with a loss of 34 cents a share in the same period last year.

Oak also said that given the expected demand in the CD recording market, the company is targeting a $300 million revenue run rate within the next 12 to 15 months.

The company's shares recently rose 10.7%, or 94 cents, to $9.69 in trading on the

Nasdaq

.