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Posted on 08.09.06 by Nikhil @ 6:08 pm

Good news: Shares of SVR are up about 16% so far today. The reason: Sales came in stronger than expected for its second quarter. Analysts had been expecting sales of $77.3 million, however, the company generated sales of $82.2 million. Investors seemed to discount the fall in net income. Net income fell to $9.5 million, or 14 cents per share, from $11.8 million, or 18 cents per share, in the year-ago period. But the good forecast also boosted the stock: Syniverse expects that in the third quarter, it will generate cash net income of between $17 million and $19 million on revenue of between $89 million and $91 million. (Cash net income includes the cash savings arising from tax deductible goodwill amortization.)

Shares of SVR are now up 30% from my Buy recommendation. For my take on the company, please CLICK HERE for Forbes Wireless Stock Watch.


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I'm Nikhil Hutheesing, and WirelessNik is my personal blog. A senior editor at Forbes, I am also the editor of the newsletter, Forbes Wireless Stock Watch. Here, you'll find my take on the latest breakthroughs in wireless technologies as well as ways to profit from wireless in the stock market.


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