Q3 REPORT LIFTS CALAMP SHARES 39%.Byline: Evan Pondel Staff Writer CAMARILLO - Shares of California Amplifier Inc. surged 39 percent on Friday to a 52-week high, one day after reporting strong third-quarter earnings and announcing a big acquisition. In a Christmas Eve-shortened trading day In Business, the trading day is the time span that a particular stock exchange is open. For example, the New York Stock Exchange is, as of 2006, open from 09:30AM to 4:00PM. Trading days never take place on weekends. the company's stock rose $3.95 to close at $14 Wednesday on the Nasdaq market. The Camarillo-based microwave equipment maker had a surprisingly strong third quarter. During the July through September period California Amplifier earned $3.5 million, or 23 cents a share, compared with a net income of $905,000, or 6 cents a share, in the like period a year ago. Third-quarter sales were $44.2 million, up from $24 million a year ago. The company said an increase in market demand helped bolster This article is about the pillow called a bolster. For other meanings of the word "bolster", see bolster (disambiguation). A bolster (etymology: Middle English, derived from Old English, and before that the Germanic word bulgstraz revenues, along with higher average prices on the company's latest generation satellite television products. Additionally, California Amplifier also has agreed to acquire Vytek Corp., a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. that makes computer software and hardware. ``We remain encouraged by the continued growth in our subscriber base by the U.S. satellite television providers, and we are continuing our efforts to support their product requirements,'' Fred Sturm, the company's president and chief executive officer, said in a statement. The company's recent performance contrasts the drubbing the stock endured in June. Shares declined 12 percent after the company said it had laid off 55 workers and released all of its 225 contract employees. The company attributed the downsizing (1) Converting mainframe and mini-based systems to client/server LANs. (2) To reduce equipment and associated costs by switching to a less-expensive system. (jargon) downsizing to a sudden drop in satellite orders. Meanwhile, analysts expressed concerns last month that California Amplifier's third-quarter results were not an accurate snapshot (1) A saved copy of memory including the contents of all memory bytes, hardware registers and status indicators. It is periodically taken in order to restore the system in the event of failure. (2) A saved copy of a file before it is updated. of the company's overall health. Newport Beach-based Roth Capital Partners Roth Capital Partners, LLC, is a full service Investment Banking firm, specializing in the small and micro cap markets. Roth’s focus, according to its official website, "has been, is, and will continue to be providing the full spectrum of investment banking services, maintained a neutral rating on the company's stock even after California Amplifier announced third-quarter results would be better than expected. Roth analyst David Kang David Kang was the 23-year old Korean-Australian university student who fired a starting pistol at the Prince of Wales during an Australia Day speech at Tumbalong Park, Darling Harbour, Sydney, New South Wales, Australia, on 26 January 1994. characterized char·ac·ter·ize tr.v. character·ized, character·iz·ing, character·iz·es 1. To describe the qualities or peculiarities of: characterized the warden as ruthless. 2. the company's third-quarter performance as surprising. What concerns Kang is the 10 percent decline in network additions for Echostar's Data Broadcast Satellite business in 2003. He said the slowdown could affect California Amplifier's business, ``and we believe cable operators will continue to increase content and other services, such as video on demand,'' Kang said in an analyst note. Evan Pondel, (818) 713-3662 evan.pondel(at)dailynews.com |
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