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Tech Industry

CellStar meets 2Q forecasts

    Communications-equipment maker CellStar Corp. (Nasdaq: CLST) met analysts' estimates in its second quarter Tuesday, earning $14 million, or 23 cents a share, on record sales of $570.3 million.

    Its shares closed off 7/16 to 8 5/8 ahead of the earnings report.

    First Call consensus expected the Carrollton, Texas firm to earn 23 cents a share.

    In the year-ago period, it raked in $16.6 million, or 27 cents a share, on sales of $445.7 million.

    Excluding the effects of a restructuring charge and gains from asset sales, net income for the second quarter would have been $11.4 million, or 19 cents a share.

    Gross profit margins increased to 8.6 percent of sales in the second quarter.

    Its shares moved up to a 52-week high of 18 1/2 in July before falling to a low of 3 in October.

    Three of the six analysts following the stock rate it a "strong buy" while the other three call it a "hold.">