Axsys Tech gains 10% to 52-week high as Q2 earnings top Wall Street views
Axsys Technologies Inc. (Nasdaq:AXYS) is up 10% to 52-week high today after reporting after Tuesday’s close second-quarter earnings that exceeded Wall Street Expectations. For the quarter ended June 28, net income was $6.1 million, or $0.53 per share, compared with $3.8 million, or $0.35 per share, for the same quarter a year ago. Net sales were $60.3 million versus $43 million for the period a year earlier. Analysts had been expecting earnings per share of $0.48 per share with revenues of $56 million.
In today’s trading, shares of the Rocky Hill, Conn.-based company are up $6.61 at $69.93 at 12:46 p.m. ET. Trading volume is at nearly 400,000 shares, well above the average of 180,000 shares.
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