BSQUARE (NASDAQ:BSQR) has been very active today with buyers driving the stock up to a new 52-week high of $5.09 per share on very heavy volume. This is a move that was expected after the company announced such strong quarterly results last Thursday with revenue and net income numbers looking very attractive to new investors. In late trading, shares of BSQUARE were up 10 percent at $4.85 per share on volume of more than 516,000 shares compared to its average daily volume of only 32,000 shares. The company has a market cap of $50 million and a 52-week range between $2.11 and $5.09 per share.
Total revenue for the quarter was $25.3 million, up 55% year-over-year, while total revenue for the nine months was $69.2 million, up 41%. Net income for the quarter was $936,000, or $0.09 per diluted share, up 1,218% year-over-year, while net income for the nine months was $1.5 million, or $0.14 per diluted share, up 347%. Quarter-end cash and investments of $21.5 million (including both short and long-term) came in higher than the previously provided expectation of $20.5 million.
Brian Crowley, chief executive officer of BSQUARE, commented on the current quarter results and business activity, "I am quite pleased with our third quarter results. We made progress across the board: third-party product sales were strong; service results out of Asia were strong; service gross margin improved as we put the Ford overruns behind us; we launched our telematics competency center with Ford; we strengthened our management team with the hiring of John Traynor as our Vice President of Products; and, finally, we launched and gained initial customer traction with our TestQuest Handset Certification Platform."
BSQUARE helps smart device makers worldwide bring high-quality products to market faster and less expensively. With its extensive engineering and licensing expertise, innovative software solutions and automated test tools, the company can help you cost-effectively create smart devices customized to your specific requirements.
BSQUARE maintains strategic alliances with Microsoft, all major silicon vendors and other leading technology companies. BSQUARE acquired TestQuest products in 2008 and now offers TestQuest CountDown and TestQuest Pro feature-rich test automation tools. With its in-depth knowledge of operating systems and silicon technology, expertise in all stages of device development including quality assurance testing, time-saving solutions and licensing knowledge, BSQUARE can help you rapidly and efficiently take your smart device from concept to market.
Founded in 1994, BSQUARE is headquartered in Bellevue, Washington, and has offices throughout North America, Europe, and Asia.
For more information visit http://www.bsquare.com/.
No comments:
Post a Comment