Catapult Communications (Nasdaq: CATT) flew up 18 percent Tuesday after raising its forecasts for the current and second quarter, as well as fiscal year 2001.
Shares in the provider of advanced software-based test systems to the telecom industry rose 2 to 13 Tuesday morning.
The company said business conditions for its test products remains strong, and it is confident there will be positive impact not only on the current quarter, but on the second quarter as well. Though it expects the trend to continue, Catapult doesn't have sufficient visibility to increase third and fourth quarter projections at this time, the company added.
For the first quarter, Catapult now projects revenue of $9 million and fully diluted earnings of 19 cents a share, up by $1.1 million and 5 cents a share, respectively, from previous projections.
For the second quarter, Catapult sees revenues of $8.9 million and fully diluted earnings will be 17 cents a share, up by $500,000 and 3 cents a share from previous projections.
As a result, for the fiscal year, Catapult now projects that revenues will total $35.3 million with earnings of 66 cents a share, up by $1.6 million and 8 cents a share.