Sirf Technology


swung to a loss in the third quarter on acquisition-related charges.

But the company's top line continued its hypergrowth, increasing 43% year over year to $91.2 million and edging past Wall Street estimates of $85.6 million.

Shares of Sirf surged 15.4%, or $3.60, to $29.60 in extended trading Tuesday.

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CEO Michael Canning said the company posted record revenue on record shipment volumes, and is benefiting from strong momentum in its order book.

Sirf's GPS chips -- which communicate with satellites to provide electronic devices with real-time location information -- were introduced in various new portable navigation products during the quarter, as well as in new cell-phone handsets and a portable gaming device.

Sirf also closed its $281 million cash-and-stock acquisition of Centrality Communications in August.

The company posted a loss of $16.1 million, or 28 cents a share in the third quarter, vs. net income of $2.6 million, or 5 cents a share at this time last year. During the third quarter, Sirf incurred a $13.9 million one-time charge for acquired in-process research-and-development expenses and nearly $6 million in other acquisition-related charges.

Excluding the acquisition charges, as well as stock option compensation charges, Sirf said it earned 29 cents a share.

Analysts polled by Thomson Financial were looking for 22 cents a share.

The company did not provide financial guidance for the current quarter, although management is due to host a conference call with analysts on Tuesday.