Radiant Systems shares up 16 percent on strong 2nd-quarter earnings report, outlookBy AP
Friday, August 6, 2010
Radiant Systems shares rise on strong 2Q earnings
ATLANTA — Shares of Radiant Systems Inc. rose to a 52-week high on Friday, after the maker of touch-screen point-of-sale systems posted an 81 percent jump in second-quarter net income and raised its guidance for the year.
Shares rose $2.35, or 16.5 percent, to $16.63 during afternoon trading, after earlier reaching a 52-week high of $16.86. The stock has traded between $9 and $15.73 during the past 52 weeks.
Quarterly net income rose to $5.8 million, or 16 cents per share, from $3.2 million, or 9 cents per share last year.
Excluding amortization of acquisition-related assets, a stock option expense and other one-time items, net income totaled 26 cents per share.
That beat the 21 cents per share analysts polled by Thomson Reuters, on average, were expecting.
Revenue rose 41 percent to $87 million from $71.1 million last year.
Analysts expected lower revenue of 81.3 million.
“The combination of new customer rollouts, new product introductions, continued positive pipeline activity and growth in our small business channel positions us with strong momentum for the future,” said CEO John Heyman.
The company raised its 2010 guidance to net income of 87 cents to 90 cents per share on revenue of $336 million to $340 million.
Previously it predicted adjusted net income of 81 cents to 84 cents per share on revenue of $322 million to $328 million.
Analysts expect net income of 83 cents per share on revenue of $326.9 million.
Radiant expects adjusted net income or 23 cents to 24 cents per share on revenue of $85 million to $87 million in the third quarter. Analysts expect net income of 22 cents per share on revenue of $81.8 million.
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