SAN FRANCISCO (Thomson Financial) - Technitrol shares surged Friday after
the Philadelphia-based maker of electronic components posted a 13.9% rise in net
profit on an 8.7% increase in revenue.
The company reported Thursday net earnings of $16.8 million, or 41 cents a
share, up from $14.8 million, or 36 cents a share, a year earlier. Excluding
after-tax severance and asset-impairment expenses, earnings rose to 52 cents a
share from 40 cents.
Revenue climbed to $256.5 million from $236.1 million a year earlier.
For the first quarter, the company expects revenues and operating profit to
be similar to the fourth quarter.
For full-year 2008, Technitrol expects growth in operating profit, excluding
unusual items, of 10% to 12%, and revenue similar to 2007, excluding
contributions resulting from the pending acquisition of Sonion A/S.
The company also added that "based on conversations with and forecasts from
major customers, Technitrol anticipates no significant changes in overall demand
conditions (including automotive components and mobile device markets) in 2008."
Shares rose 13.5% to $22.43.
Gabriel Madway
gm/jw
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