Netezza up 11% after swinging to Q1 profit
Netezza Corp. (NYSE:NZ) shares are up 11% after the computer equipment maker reported that it swung to a first-quarter profit of $2.1 million, or $0.03 per share, versus a loss of $3.4 million, or $0.44 per share, a year earlier. The results beat Wall Street’s expectation of earning $0.02 per share.
The Framingham, Mass.-based firm’s quarterly revenue grew 57% to $39.6 million from $25.3 million a year ago. The revenue results also beat Wall Street’s expectation, which was $36.2 million.
Netezza also raised its 2009 revenue outlook to $172 million from a previous range of $165 million to $168 million. Wall Street analysts, on average, expect $166.7 million in revenue.
In Thursday afternoon trading, NZ shares are up 11.57%, or $1.36, to $13.11. For detailed price information and recent news stories about Netezza, click NZ.
About the Author
Reporter Will Atkinson is based in SmallCapInvestor.com's Washington, D.C. bureau.
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