RadiSys jumps on rad Q1 results that beat the Street
Shares of RadiSys Corp. (Nasdaq:RSYS) are continuing to advance mid-morning after the computer system products developer reported first-quarter results after Tuesday’s close that trumped the consensus on Wall Street. The company reported that it broke-even for the quarter, while analysts’ had expected a $0.01 loss.
The better-than-expected results were fueled by higher revenues in its wireless and communications products businesses. First-quarter results also included $1.1 million of tax provisions for Canadian currency and statutory rate changes.
The Hillsboro, Ore.-based small cap also issued second-quarter guidance inline to above the consensus on Wall Street.
Shares shot up 22%, or $1.74, to $9.85 at 11:29 a.m. ET. For detailed price information and recent news stories about RadiSys, click RSYS.
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