Shares of communications equipment maker Westell Technologies (WSTL) are up 15 cents, or 4%, at $3.75, after the company reported fiscal Q4 revenue rose 31%, year over year, to $49.6 million, and EPS rose a penny to 5 cents per share.
Northland Securities analyst Mike Latimore is the only analyst listed by Thomson Financial as covering the stock. He had been modeling $49.6 million and 4 cents per share.
Gross profit declined from the year-earlier 37.4% to 31%, the company said. Westell ended the quarter with $86.4 million in cash after generating half a million of cash during the quarter.
Westell, which is selling its customer networking business to Netgear (NTGR), said that the division saw a 65% jump in revenue in the quarter. The unit saw an improvement from a $1 million net loss a year earlier to just $700,000 in net loss last quarter.
Article courtesy of Tech Trader Daily