Shares of Photon Dynamics, Inc. (Nasdaq:PHTN) are rising on news before the opening that the maker of digital imaging technology has raised its second-quarter guidance. The San Jose-based company expects revenue between $42 million and $45 million for the three months ended March 31, compared with a previous guidance calling for revenue between $36 million and $38 million.

Final results will be reported on May 1.

At 2:38 p.m. ET, the stock had advanced $0.72, or 7%, to $10.98.

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