NetSilicon hits 3Q targets

NetSilicon met analysts' estimates in its third quarter Tuesday, earning $672,000, or 4 cents a share, on sales of $10.7 million.

First Call Corp. consensus pegged it for a profit of 4 cents a share in the quarter.

Ahead of the earnings report, NetSilicon (Nasdaq: NSIL) shares fell 19 cents to $4.88.

In the year-ago quarter, it earned $905,000, or 7 cents a share, on sales of $10.1 million.

"During the third quarter we saw substantial gains in our intelligent device business, as demonstrated by both the revenue growth and by the completion of strategic initiatives designed to increase our addressable markets," said CEO Cornelius Peterson in a prepared release.

Last quarter, it beat the Street when it earned $746,000, or 5 cents a share, on sales of $9.9 million.

NetSilicon shares moved as high as $49 in February before falling to a low of $3.38 earlier this month.

Three of the four analysts following the stock rate it either a "buy" or "strong buy."

Analysts are looking for a profit of 7 cents a share in the fiscal year.