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Terayon Communications sees upside surprise in 1Q

Terayon Communications Systems said strong demand for its broadband networking systems will result in an upside surprise in its first quarter.

The company said it will post sales of between $55 million to $57 million in the quarter, up from the $38.7 million it recorded in the fourth quarter.

Its shares closed up 9 1/8 to 229 15/16 ahead of Monday's announcement.

Last quarter, it posted a profit of $1.2 million, or 4 cents a share, on sales of $38.7 million.

First Call consensus currently expects Terayon to earn a penny a share in its first quarter and 11 cents a share in the fiscal year.

Its shares moved up to a 52-week high of 280 in February after announcing a 2-for-1 stock split.

The stock fell to a low of 26 3/8 in June.

Seven of the eight analysts covering the stock rate it either a "buy" or "strong buy.">