CNET también está disponible en español.

Ir a español

Don't show this again

HolidayBuyer's Guide
Culture

Sonicblue outlook lifts shares 30 percent

Investors go into buy mode a day after the consumer electronic maker says it expects to beat analysts' revenue estimates by more than $20 million.

Shares of consumer electronics maker Sonicblue stormed up 30 percent Wednesday, a day after the company said it expects to beat analysts' revenue estimates by more than $20 million.

Sonicblue shares picked up $1.16 cents, or 30 percent, to close at $5.02.

The company Tuesday reported that it expects revenue to be $78 million to $80 million when it announces fourth-quarter results Feb. 6. If the estimate holds up, it would represent a 45 percent quarter-over-quarter growth in revenue and would exceed analysts' estimates by $21 million to $23 million.

Analysts are expecting a loss of 9 cents per share for the fourth quarter, according to First Call.

The company attributed the results to strong sales over the holiday period, beginning as early as October. The company had trouble keeping up with demand, in particular, for its Rio CD-based MP3 player, its Go-Video combination DVD/VCR player and its ReplayTV digital video recorders, according to the company.

The strong results put the company in a better position to turn itself around following its transition from a graphics chip company to a consumer electronics company.

"We are ahead of our internal plan to bring our cost structure in line with our current business plan and have positioned the company to be profitable in 2002," Sonicblue Chief Financial Officer John Todd said in a statement.