“PortalPlayer Inc., a maker of chips for digital music players, said Thursday its fourth-quarter profit more than doubled on sharply higher sales during the period,” The Associated Press reports.
“PortalPlayer, whose chips are used in Apple Computer Inc.’s iPod, also pegged its first-quarter revenue ahead of Wall Street estimates. Shares fell 95 cents to close at $27.27 on the Nasdaq, but jumped nearly 10 percent in after-hours trading,” AP reports. “The company’s earnings rose to $23.8 million, or 92 cents per share, from $10.5 million, or 50 cents, a year ago. Excluding stock-option costs and a tax-related benefit, earnings were 62 cents per share. That surpassed the average view for profit of 48 cents per share from analysts surveyed by Thomson Financial.”
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