Continued demand for digital video recorders pushed profit up 31 percent at Scientific-Atlanta.
The company's earnings for the fiscal first quarter ending Oct. 1 rose to $55.9 million, or 36 cents a share, matching the average forecast by analysts surveyed by Thomson First Call. It earned $42.7 million, or 28 cents a share, in the same period last year.
Sales increased 14 percent to $452.7 million from $395.6 million a year earlier, but fell short of analysts’ mean forecast of $461 million.
Scientific-Atlanta said demand for its DVRs remains strong, with 397,000 shipped during the quarter. The company also said it sold 416,000 cable modems, a record number for any quarter.
For more information, visit www.sciatl.com
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