Good earnings report from an AMD competitor!
A lot of good tech reports out tonite from JNPR, VRTS, KLAC, PMCS, GTW....the world is not coming to an end!!
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Silicon Storage's third qtr results beat forecasts
SUNNYVALE, Calif., Oct 12 (Reuters) - Memory chip maker Silicon Storage Technology Inc. <SSTI.O> reported on Thursday third quarter earnings that beat analysts' expectations, driven by strong demand for its products.
The Sunnyvale, Calif.-based company reported third-quarter earnings of $36.3 million or 37 cents a share, compared with $22.5 million, or 24 cents a share, for the same quarter a year ago.
Analysts polled by First Call/Thomson Financial had forecast average earnings of 36 cents per share.
In a pre-earnings announcement on Sept. 26, Silicon Storage had said it expected to report third quarter earnings of 35 cents or more per share on revenues of more than $150 million.
The company said it expects product demand to oustrip supply for the next three quarters, with fourth quarter earnings per share expected to hit 48 cents a share and first quarter 2001 earnings at about 56 cents a share.
The company also said it anticipates full year 2001 earnings per share of about $2.90.
Silicon Storage stock jumped $2-3/8, or nearly 12 percent, to $22-7/16 in Thursday trading on the New York Stock Exchange. The earnings announcement was made after the market closed.
16:31 10-12-00 |
