Turnstone Systems shares stormed up 34 1/16, or 52 percent, to 100 Tuesday, one day after the DSL software and equipment maker shattered analysts' estimates in its first quarter.
Turnstone (Nasdaq: TSTN) posted a profit of $4.6 million, or 14 cents a share, on sales of $23 million.
A survey of analysts by First Call Corp. predicted it would earn 3 cents a share in the quarter.
The $23 million in sales marks an 85 percent improvement from the $12.5 million it recorded last quarter.
Turnstone went public in February.
Competitors of Turnstone include Nortel Networks (NYSE: NT).
Analysts are expecting a profit of 3 cents a share in the second quarter and 12 cents a share for the fiscal year.
Its shares peaked at 208 3/8 shortly after its IPO in March before falling to 46 earlier this month.
Both analysts covering the stock rate it either a "buy" or "strong buy."
Discuss: Turnstone Systems builds on stellar 1Q results
Be respectful, keep it civil and stay on topic. We delete comments that violate our policy, which we encourage you to read. Discussion threads can be closed at any time at our discretion.