madtony
16 years ago
Wind River Systems swings to profit, shares climb
Friday December 5, 2:55 pm ET
Wind River Systems' stock jumps after software maker swings to 3rd-quarter profit
ALAMEDA, Calif. (AP) -- Shares of Wind River Systems Inc. climbed Friday after the software maker said it swung to a profit in its fiscal third quarter.
Investors sent the stock up 73 cents, or 9.6 percent, to $8.37 in afternoon trading.
The company, whose software helps other companies develop and test software for devices including rear-seat entertainment systems in cars and avionics in defense aircraft, posted a profit of $5.9 million, or 8 cents per share. In the year-ago quarter, it reported a loss of $98,000, or break-even on a per-share basis.
Excluding one-time charges, Wind River Systems said it earned 14 cents per share, higher than Wall Street was expecting. Analysts surveyed by Thomson Reuters had forecast earnings of 9 cents per share.
For the three months ended Oct. 31, sales rose 12 percent to $91.6 million, ahead of analysts' expectations for $89.8 million in revenue.
Wind River Systems' guidance for the current fourth quarter and the full fiscal year fell behind Wall Street's view, however.
For its fiscal fourth quarter ending Jan. 31, the company said it expects to earn 11 cents to 13 cents per share excluding one-time items on $93 million to $95 million in sales. Analysts are currently looking for a profit of 16 cents per share on $100.6 million in sales.
For the full 2009 fiscal year, Wind River Systems forecast an adjusted profit of 0.51 to $0.53 cents per share on sales of $365 million to $366 million. Analysts are expecting a profit of 50 cents per share on $370.1 million in revenue.
http://biz.yahoo.com/ap/081205/earns_wind_river_systems.html?.v=1
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