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Tech Industry

NetSilicon soars past 3Q estimates

NetSilicon Inc. (Nasdaq: NSIL) hurdled analysts' estimates in its third quarter Thursday, raking in $905,000, or 7 cents a share, on sales of $10.1 million.

Its shares closed up 9/16 to 16 ahead of the earnings report.

First Call consensus expected it to earn 2 cents a share in the quarter.

The $10.1 million in sales was more than triple the $3 million it recorded in the year-ago period when it lost $1.7 million, or 17 cents a share.

"This rapid increase in orders was attributable in part to one-time orders related to Y2K. We expect to return to more normal growth rates in ensuing quarters," said CEO Pete Peterson in a prepared release.

Company officials said its backlog was approximately $7 million at the end of the quarter compared with $11 million at the close of the second quarter.

Its shares rallied up to 17 1/2 in September before falling to a low of 9 in October.

Both analysts following the stock maintain either a "buy" or "strong buy" recommendation.