BOSTON (Thomson Financial) - Shares of NetScout Systems Inc. soared Friday
after the Westford, Mass.-based computer network products provider reported
better-than-expected adjusted income for the fiscal fourth quarter and
maintained its outlook for the fiscal year 2009.
The stock was up more than 18% at $12.09 on volume of 64,564 shares. The
issue's 30-day average volume is about 123,800.
Late Thursday, NetScout Systems posted fourth-quarter adjusted income of
$4.8 million, or 12 cents a share, well above the consensus estimate of Wall
Street analysts, who were looking for 5 cents a share.
Revenue rose to $57.7 million from $27.3 million. Analysts, on average, were
expecting $61.5 million.
For fiscal 2009, the company maintained its guidance for adjusted earnings
of 50 cents to 60 cents a share on revenue of $250 million to $260 million.
Analysts estimate profit of 55 cents a share on revenue of $265 million, on
average.
Casey Logan
cl/pc
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