May 5, 2011 / 8:51 PM / 6 years ago

UPDATE 1-Rubicon races past Street view, shares jump

* Exceeds average forecast by 21 percent

* Shares surge after hours

LOS ANGELES, May 5 (Reuters) - Rubicon Technology Inc (RBCN.O), which makes sapphire substrates for the light-emitting diode (LED) market, reported a quarterly profit that blew past analysts' estimates.

Net income was $19.1 million, or 80 cents per share, topping Wall Street analysts' average estimate of 66 cents a share, according to Thomson Reuters I/B/E/S. In the same period a year ago, Rubicon earned $1.6 million, or 7 cents per share, a year ago.

Revenue more than doubled to $38 million.

Shares in the company leapt 6.5 percent to $29.50 in extended trading from a regular-session close of $27.70. (Reporting by Nichola Groom; Editing by Phil Berlowitz)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below