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SST jumps on 2Q outlook

    SST (Silicon Storage Technology, Inc.) (Nasdaq: SSTI) was up 17 percent Friday after it announced that it expects to report record results for the second quarter ended June 30.

    Shares were up 12 13/16 to 88 5/8.

    The company said it expects to report a revenue increase of greater than 50 percent over the first quarter of 2000 and an increase of greater than 300 percent over the second quarter a year ago. The company expects that it will report earnings per share for the second quarter of 2000 to be greater than 50 cents a share.

    First Call was expecting the company to earn 39 cents a share in its second quarter.

    The company said that, because of its diversified product offering, the company has continued to experience rapid revenue growth. It believes that the flash market is very fragmented, and its SuperFlash technology allows it to produce competitive flash memory products to serve each segment of the market.

    Demand for products continues to outstrip the company's capacity, which it plans to continue increasing.

    The company expects to report final results for the second quarter on July 18 after the market is closed.