Tech Industry

Earnings Roundup: Terayon, PeopleSoft top 3Q estimates

Terayon Communication Systems soared past analysts' estimates in its third quarter Tuesday, raking in $8.5 million, or 12 cents a share, on sales of $125.3 million.

First Call Corp. consensus expected the maker of broadband access systems to earn 9 cents a share in the quarter.

Terayon (Nasdaq: TERN) shares closed up $1.88 to $41 ahead of the stellar earnings report.

The $125.3 million in sales represents a staggering 436 percent improvement from the year-ago quarter when it lost $1.7 million, or 4 cents a share, on sales of $23.4 million.

"We are pleased to report today that Terayon has achieved another great quarter for both revenues and earnings," said CEO Zaki Rakib in a prepared release.

Last quarter, Terayon earned $4.7 million, or 7 cents a share, on sales of $92 million.

Its shares moved up to a 52-week high of $142.63 in March after falling to a low of $18.88 last October.

All seven analysts following the stock rate it either a "buy" or "strong buy."

Among other technology companies reporting earnings Tuesday:

  • PeopleSoft (Nasdaq: PSFT) topped analysts' estimates in its third quarter, earning $23.4 million, or 8 cents a share, on sales of $443.1 million.

    Analysts expected it to earn 7 cents a share in the quarter.

    Ahead of the earnings report, PeopleSoft shares fell $3.06 to $32.75.

    In the year-ago quarter, PeopleSoft posted a profit of $500,000 on sales of $346.1 million.

    In the quarter, licensing sales increased 100 percent from the year-ago quarter to $131.5 million.

    "PeopleSoft's record third quarter is a culmination of continued solid business management and execution in an industry rapidly adopting Internet technology," said CEO Craig Conway in a prepared release. "This is the year in which the Internet evolved from a consumer vehicle to a business tool embraced by real companies."

    PeopleSoft shares peaked at $37.88 earlier this month after falling to a 52-week low of $12 in May.