OAKLAND, Calif. (

TheStreet

) --

Scientific Learning

(SCIL)

shares rallied sharply higher Friday on heavy volume after the educational software provider offered preliminary third-quarter results that exceeded analyst forecasts.

Scientific Learning said it expects to book revenue of $19 million to $20 million, an increase of more than 50% from a year ago, as total booked sales is expected to rise approximately 70% from a year ago to a range of $25.5 million to $26 million. As a result, Scientific Learning said third-quarter earnings should fall in a range of 30 cents to 34 cents a share.

Wall Street is looking for a third-quarter profit of 2 cents a share on revenue of $11.3 million, according to a Thomson Reuters poll of two analysts covering the company. Scientific Learning will post full third-quarter results during the week of Oct. 26.

Scientific Learning shares were jumping by $2.36, or 69.5%, to $5.76. Earlier in the session, the stock touched an intraday and new 52-week high of $6.90. More than 3.4 million shares changed hands by 2:30 p.m. EDT Friday, compared to the stock's 50-day average daily volume of 22,000, according to the

Nasdaq

.

Scientific Learning has a 13.4 million-share float with a short interest float of only 0.2% as of Sept. 10, according to Yahoo! Finance. More than 26% of the company's shares are held by insiders with another 40% owned by institutions.

Read more about today's high-volume stocks in earlier "Pump Up the Volume" posts

.

-- Written by Robert Holmes in New York

.