Smart Modular Technologies expects better 4th quarter than Wall Street currently predicting
By APThursday, June 17, 2010
Smart Modular Technologies expects strong 4Q
NEWARK, Calif. — Smart Modular Technologies Inc., which makes computer memory products, issued guidance for the current quarter that tops analysts’ expectations.
For its fiscal fourth quarter, Smart Modular Technologies forecast adjusted earnings of 22 cents to 24 cents per share on $200 million to $210 million in revenue. Analysts surveyed by Thomson Reuters are currently looking for the company to earn 20 cents per share on $185.9 million in revenue, on average.
Smart Modular Technologies on Thursday reported a profit of $14.9 million in the fiscal third quarter, compared with a year-ago loss. Quarterly revenue more than doubled to $201.2 million. The company said it has seen strong demand in its key markets of the U.S., Asia and Brazil.
In aftermarket trading, shares rose 34 cents, or 5.2 percent, to $6.77, having closed the regular session up 3 cents at $6.50.
