Graphic-chip maker ATI Technologies Inc. (Nasdaq: ATYT) topped analysts' estimates by 2 cents a share in its third quarter Thursday, earning $35.9 million, or 17 cents a share, on sales of $302 million.
First Call consensus expected the Canadian firm to earn 15 cents a share in the quarter.
In the year-ago quarter, ATI earned $26.5 million, or 12 cents a share.
The stock closed off 7/16 to 16 5/16 Thursday.
"Another good quarter: makes everybody happy," said CEO K.Y. Ho in a prepared release.
The company bought Chromatic Research Inc. in November 1998. As a result it took a charge of $17 million or 8 cents a share, accounting for the amortization of research and development, and other acquisition costs.
Including those charges, ATI earned 9 cents a share in the quarter..
The stock surged to a 52-week high of 18 1/2 in February after falling to a low of 9 3/16 in December.
Five of the six analysts following the stock rate it either a "buy" or "strong buy.">