Strong earnings, split plans power Haupagge
By Debra McGarry, CBS MarketWatch
Last Update: 3:48 PM ET Feb 10, 2000 NewsWatch
HAUPPAGE, N.Y. (CBS.MW) -- Hauppage Digital shares powered up 19 percent Thursday after the marker of analog and digital video products for PCs posted better-than-expected earnings and set plans for a stock split.
In the fiscal first quarter, Hauppage announced that net income rose 55 percent to $1.4 million, or 30 cents a share compared to $956.651, or 21 cents a share in last year's quarter.
Analysts polled by First Call forecast a profit of 25 cents.
Sales climbed 46 percent to $22 million from $15 million in the same quarter a year earlier.
The company's board also approved a 2-for-1 stock split.
Through its WinTV circuit boards, Hauppage (HAUP: news, msgs) lets viewers watch TV and other digital video images in a resizable window on a PC monitor.
New-York-based Hauppage also plans to co-market Europe Online's broadband satellite Internet service, "Internet via the sky."
Based in Luxembourg, Europe Online Networks S.A. operates a broadband Internet via satellite network.
The system lets consumers in Europe have high-speed Internet access via satellite, including video and audio streams and digital downloads, without requiring a cable TV connection. This is important in Europe, where fewer homes are served by cable compared with the U.S. |
