us earns neutral tandem 110409
On the homepage
Vikings
Out There
Pardon Board
Petters
Neutral Tandem 1st-quarter profit jumps 80 percent as more phone data flows over its network
Print this story
E-mail this story
Save to del.icio.us
Share on Facebook
Share on Digg
Minnesota business by the numbers
See Minnesota's top earning companies, CEOs and non-profits
More from Business
CHICAGO - Neutral Tandem Inc., which provides services that connect phone networks between providers, said Wednesday its third-quarter profit jumped 80 percent, as the company expanded its reach and carried more minutes over its networks.
The company also boosted its outlook for the year, sending shares up $1.61, or 7.4 percent, to $23.44 in midday trading. The stock has ranged from $11.80 to $34.56 over the past year.
Earnings for the quarter rose to $11.1 million, or 32 cents per share, from $6.2 million, or 19 cents per share, in the same period last year.
Revenue increased 44 percent to $44.7 million from $31.2 million.
Analysts surveyed by Thomson Reuters had predicted a profit of 31 cents per share and $43.1 million in revenue.
Neutral Tandem said billed minutes rose 45 percent from a year ago. The company said it expanded into 10 new markets and continued to grow in areas where it already operated.
The company increased its forecast for full-year revenue to $168 million to $170 million, from a previous estimate of $162 million to $168 million.
Analysts predict revenue of $167.7 million in 2009.
Recent Business stories
Heinz to report its second-quarter results Tuesday - November 4, 2009
Heinz to report its second-quarter results Tuesday - H.J. Heinz Co. is scheduled to report earnings for its fiscal second quarter on Tuesday before the market opens. The following is a summary of key developments and analyst opinion related to the period. More
Blog: Patent Pending
Lights out at U energy conference. Irony police notified.
Just as Lawrence Kazmerski, a top official at the National Renewable Energy Laboratory, was about to give the keynote address at the University of Minnesota's annual E3 conference at the RiverCentre in St. Paul, the lights went out, bathing the audience in darkness and a deep sense of irony.
Comment on this story | Be the first to comment | Hide reader comments