<!--/OUTER BOX TABLE--> Israeli telecommunications company Ceragon Networks Ltd. said Monday its first-quarter earnings grew ninefold due to increased sales and demand for its Internet protocol products.
For the quarter ending March 31, Ceragon earned $2.6 million, or 9 cents per share, compared with $288,000, or 1 cent per share, in the year-ago quarter.
Excluding certain items, earnings totaled $3 million, or 11 cents per share, compared with earnings of 1 million, or 4 cents per share, in the first quarter last year.
The company's sales increased 59.1 percent to $33.9 million from $21.3 million in the same period last year.
Analysts polled by Thomson Financial expected the company to report earnings of 9 cents per share.
Ceragon said growing demand for all-IP and WiMAX networks is helping the company's bottom line. The company also said it's working on reducing its costs, raising production capacity and reducing delivery times.
Ceragon shares jumped 10.7 percent, adding 64 cents to a new year high of $6.60 in morning trading on the Nasdaq. The stock has traded between $3.96 and $6.33 during the past 52 weeks.
This stock is going earning have made insane moves. This company is only going to get bigger as they keep on expanding.
$6.87 (04/30/07)
