From Marketwatch
Shares of Aspect Development shot up 23 percent Wednesday after the computer systems company said it expects to turn a profit for the full year despite a slump in first-quarter sales.
Shares gained 1 13/16 to 9 5/16 on volume of 3.75
million shares. That's over twice its daily average of 1.5 million.
Aspect Development (ASDV: news, msgs) said
sales for the quarter totaled $14.4 million, down
from $17.7 million a year ago.
"In spite of the lower-than-expected first quarter
revenues, component supplier management remains
a strong, healthy, and growing market," Aspect
Chairman Romesh Wadhwani said in a statement.
Aspect develops software that enables
manufacturers to track availability, design, price,
and other data about components and their
suppliers.
Revenue and profits are expected to grow
throughout the remainder of the year and Aspect
expects to be profitable for the full year, the
company said.
While the Aspect acknowledged in a news release it was "disappointed" with results, it's 6 cent per-share loss, which excluded a one-time gain,
beat the First Call Corp. consensus estimate of an 8-cent loss.
Net income for the quarter was $325,000 compared to $2.3 million, or 7 cents last year.
Aspect Development said the weaker quarterly performance was caused by unexpected delays in the signing of certain major contracts.
In a separate release, Aspect named Robert Evans its new president and chief operating officer.
|
