| Tech Stock News and Analysis |
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| Wednesday, December 20, 2006 |
Smart Modular Technologies Inc., a maker of memory chips and modules, said Tuesday its fiscal first-quarter profit rose 56 percent, sending shares up in after-hours trading.
For the three months ended Nov. 30, earnings climbed to $14.6 million, or 23 cents per share, from $9.3 million, or 17 cents per share during the same period last year. Results beat the company's November guidance of 21 cents to 22 cents per share.
Revenue increased 50 percent to $237.2 million from $158.3 million in the year-ago quarter.
Analysts polled by Thomson Financial forecast a profit of 21 cents per share on $210.9 million in sales.
For the second quarter, the company said it expects to earn 20 to 21 cents per share on $230 million to $240 million in sales.
For the fiscal year, the company said it expects to post a profit of 88 cents to 90 cents.
Shares of Smart Modular Technologies gained 5.4 percent to $13.18 in after-hours trading on the INET electronic exchange, after adding 28 cents, or 2.3 percent, to close at $12.51 on the Nasdaq. |
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