Shares of the following companies jumped on Thursday after reporting their quarterly earnings:-
Universal Display Corporation (NASDAQ:PANL) stock gained 21% to $39.62 after the company reported a second-quarter net income of $11.0 million or $0.23 per share, as compared to $3.3 million or loss per share of $0.03 in the comparable quarter last year. Total revenue more than doubled to $30.0 million from $11.3 million in the same quarter last year. Analysts expected the company to earn $0.24 per share on revenues of $28.98 million for the quarter.
Looking ahead, the company expects fiscal 2012 revenues in the range of $90 million to $110 million for fiscal 2012. For the fiscal 2012, analysts expect revenues of $101.09 million.
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SatCon Technology Corporation (NASDAQ:SATC) shares climbed 10.30% to $1.25 after the company posted second quarter revenue of $23.7 million, as compared with revenue of $24.3 million in the first quarter of 2012. Gross margin for the quarter was 20%, compared with 1% in the first quarter of 2012.
Looking forward, the company announced that for third quarter of 2012, it expects revenue to be between $25 million and $30 million.
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SciClone Pharmaceuticals, Inc. (NASDAQ:SCLN) shares increased 16.67% to $5.95 after the company posted second quarter revenues of $40.3 million, an increase of 22% from $33.1 million in the year ago period. The company reported GAAP net income of $10.6 million, as compared with $2.0 million for the same period in the prior year, or $0.19 and $0.18 per share on a basic and diluted basis, respectively, for the three months ended June 30, 2012, compared with $0.04 and $0.03 per share on a basic and diluted basis, respectively, for the same period in the prior year.
How Should Investors Trade SCLN After Today’s Rally? Find Here
Seattle Genetics, Inc. (NASDAQ:SGEN) stock rose 3.10% to $24.61 after the company reported a second quarter net loss of $17.24 million or $0.15 per share, as against $51.51 million or $0.45 per share in the prior-year quarter. Revenues for the quarter more than tripled to $48.82 million from $13.05 million in the same quarter last year. Analysts expected a loss of $0.15 per share on revenue estimate of $50.33 million.