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Scientific-Atlanta earnings jump

The TV set-top box maker will report higher-than-expected earnings while shipping 100,000 of its Explorer 2000 devices to Time Warner Cable.

Scientific-Atlanta announced today that it will report higher-than-expected earnings while shipping 100,000 of its Explorer 2000 television set-top boxes to Time Warner Cable.

Scientific-Atlanta manufacturers set-top boxes capable of carrying high-speed Internet and video-on-demand services. The devices are distributed through cable operators such as Time Warner, Tele-Communications Incorporated, and Cox Communications.

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When worlds collide Boxes such as the Explorer 2000 are expected to become the low-cost, high-speed communications center for millions of households, and the latest shipments confirm that the devices are already being used by major cable service providers.

Scientific-Atlanta announced that its quarterly revenues for the period ended January 1 will be about $308 million, compared with revenues of $294.5 million for the corresponding period last year. The company will report its earnings January 31.

Accordingly, Scientific-Atlanta said that its earnings will beat Wall Street estimates. A First Call consensus of analysts has predicted earnings of 6 cents per share, compared with earnings of 19 cents for the like quarter last year. The news drove the set-top box maker's stock up as high as 31-1/4 today.

The company credited stronger-than-anticipated demand for its Explorer 2000 boxes, shipping 126,000 of the set-top devices in the second quarter. In a separate announcement, Time Warner said it has acquired 100,000 Explorer 2000 devices for distribution in Austin, Texas.

Time Warner has committed to purchasing 1.1 million boxes, with an option for an additional 500,000 units, according to the companies. The majority of the 126,000 units shipped last quarter were sold to Time Warner, according to a company spokesman.

The order is double the amount of units shipped earlier, according to the spokesman. Scientific-Atlanta shipped about 57,000 set-top boxes in the first quarter.