Scientific-Atlanta (SFA) topped Street estimates Thursday amid strong demand for new TV gear.
The Atlanta set-top box maker posted a net income of $34.5 million, or 22 cents a share, on $527 million in sales in the fiscal fourth quarter ended in June.
Adjusting for one-time events such as a $22 million charge related to a settlement with interactive TV guide developer
, Scientific-Atlanta had s profit of $77.3 million or 50 cents a share. Analysts were looking for adjusted income of 42 cents on $514 million in revenue.
For the year, Scientific-Atlanta posted GAAP earnings of $211 million on $1.91 billion in sales and widened gross margins by two-tenths of a percentage point to 37.5% from last year.
"By applying our innovative products and systems capabilities across our existing domestic cable customers, telephone companies and international operators, we grew the company profitably in fiscal year 2005," CEO Jim McDonald said in a press release Thursday.
Scientific-Atlanta shares rose $1.46, or 4%, to $39.90 in after-hours trading Thursday.