Tektronix Fiscal 2nd-Qtr Profit Quadruples on Increased Sales
(Bloomberg) -- Tektronix, Inc., the No. 2 maker of electronics-testing equipment, said fiscal second-quarter profit from continuing operations rose more than fourfold as sales soared.
Profit from continuing operations rose to $36.7 million, or 38 cents a share in the quarter ended Nov. 25, from $8.9 million, or 9 cents, a year earlier, Chief Executive Richard Wills said. Sales increased 24 percent to $325.1 million from $261.3 million.
Sales of Tektronix's optical-design and testing products almost tripled, while increasing 40 percent for network-monitoring equipment, the company said. Tektronix said it expects revenue to increase by 15 percent to 17 percent in the third quarter. Full- year profit will increase by 20 percent, the company said.
The Beaverton, Oregon-based company had a gain from discontinued operations in the year-ago quarter of $6.2 million, or 7 cents a share, making net income $15.2 million, or 16 cents.
Tektronix shares rose $2.75 to $27.75 in late-morning trading.
Agilent Technologies Inc., which was spun off from Hewlett- Packard Co. in June, is the No. 1 maker of electronics-testing equipment.
Dec/14/2000 11:24 ET |
