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Non-Tech : EARNINGS REPORTING - surprises, misses & more -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (297)	9/9/2000 8:07:29 AM
From: 2MAR$	Read Replies (1) \| Respond to of 762

California Amplifer sags despite strong results CAMARILLO, Calif., Sept 8 (Reuters) - Shares in California Amplifier Inc. (NasdaqNM:CAMP - news), a maker of microwave amplifiers used in satellite and broadband applications, plunged 18 percent on Friday after otherwise solid quarterly earnings were tarnished by margins that were weaker than some investors had hoped for. The company's shares fell $7-1/4 to $32-15/16 on high volume of more than 2 million shares, triple the average daily volume of about 650,000 shares. The stock has fallen from a year high of $63 in July, but is still triple its year low of $11-3/16 set last September. The fall came a day after the Camarillo, Calif.-based company posted second quarter earnings of 16 cents a share, up from 7 cents a year earlier, and in line with Wall Street estimates. Matthew Robison, an analyst with Ferris Baker Watts, said the company's results were better than he had expected, but noted that margins in the highly competitive satellite business may have been smaller than some had hoped for. ``We think there's a temporary condition that's putting pressure on margins,'' Robison said. ``It scared some weak hands with the margins a little lighter than expectations.'' Robison added that he maintained a ``strong buy'' rating on the company, and said he was bullish that a burgeoning market in Europe would fuel future profits. ``There's a silver lining with the export market that they are just starting to tap,'' Robison said. He also noted that the stock has historically been very volatile. ``This company has beaten numbers and traded down, missed numbers and traded up. These are circumstances that you want to load up on this stock,'' Robison said. California Amplifier makes a range of amplifiers, transceivers, antennas and components that are used in satellite television and wireless video, data and telephone networks.