NEW YORK (AP) -- Shares of Silicon Image Inc. jumped more than 25 percent Wednesday, after the high-definition display component maker announced better-than-expected second-quarter results and issued a strong revenue forecast for the current period.
THE SPARK: Silicon Image posted a loss of $943,000, or 1 cent per share, compared with a loss of $1.3 million, or 2 cents per share, in the same quarter last year. Excluding restructuring, stock-option and other one-time charges, the company said it posted an adjusted profit of $4.3 million, or 5 cents per share, for the recent quarter.
Revenue rose 19 percent to $63.8 million from $53.6 million.
Analysts expected an adjusted profit of 2 cents per share on $59.8 million in revenue, according to a FactSet poll.
The Sunnyvale, Calif.-based company also said it expects its third-quarter revenue to total between $73 million and $75 million, ahead of average analysts' predictions of $70.3 million.
THE BIG PICTURE: Silicon Image makes parts for HD displays used by the consumer electronics, mobile and personal computer markets.
The company said its second-quarter results improved in all of its categories, with increased demand for mobile-related products driving the bulk of its sales.
THE SHARES: Up $1.03, or 26 percent, to $4.95 in heavy afternoon trading, after peaking at $5.30 earlier in the session.
Over the past 52 weeks, the company's shares have traded between $3.53 and $7.12. Since the beginning of this year, the shares have lost about 17 percent of their value.