Telecommunications-equipment maker Teltrend Inc. (Nasdaq: TLTN) met analysts' estimates in its third quarter Wednesday, earning $1.9 million, or 32 cents a share, on sales of $26.4 million.
Its shares closed up 3/8 to 22 ahead of the earnings report.
The $26.4 million in sales was a slight improvement compared to the year-ago period when it earned $1.7 million, or 27 cents a share, on sales of $25.3 million.
Sales of its high-capacity products jumped from $13.1 million to $14 million while its circuit-switched sales grew from $2 million to $2.6 million.
"Our third quarter earnings met our expectations and sales were up 10 percent quarter-to-quarter," said CEO Howard Kirby in a prepared release. "For the first nine months of this year, sales are up 16 percent year-to-year."
Company officials said Teltrend will debut four new products next week at the SuperComm trade show in Atlanta.
Teltrend shares moved up to a 52-week high of 27 7/8 in February after falling to a low of 11 in October.
Four of the five analysts following the stock rate it a "strong buy."
First Call consensus expects it to earn $1.31 a share in the fiscal year.>