QCOM--Tektronix blows by 2Q estimates
By Anand Ablack, Special to ZDII
Tektronix Inc. (NYSE: TEK) saw its shares jump 9 percent Thursday after the maker of electronic testing and measurement equipment easily beat the analysts' estimates for its second-quarter.
Shares of the company, which has posted solid results over the last few quarters, rose 2.25 to 27.25.
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The company earned $36.7 million, or 38 cents per share, on sales of $325.1 million for the period. First Call Corp.'s consensus estimate called for earnings of 29 cents per share.
Year over year, sales jumped 28 percent, up from $253.3 million, while profits increased from the 17 cents per share earned in the same period a year ago.
According to the company's CEO, the results were boosted by strong growth in demand for network monitoring test equipment and optical design and test products.
For the third quarter of fiscal 2001, Tektronix said it expects revenue growth in the range of 15 to 17 percent year over year. For the full fiscal year 2001, the company projects revenue growth of about 20 percent over fiscal 2000 and expects operating margins to be about 14 percent.
On Monday, Qualcomm (Nasdaq: QCOM) and Tektronix announced that they had expanded their CDMA license agreement, in an effort to develop and manufacture third-generation wireless technologies. Terms of the new agreement were not disclosed. |
