Best Shares alert - (NASDAQ:BCSI) Q2 Beats Estimates, Expects Strong Q3

Blue Coat Systems, Inc. (NASDAQ:BCSI) rose 7.50% to $27.58 after it posted a better-than-expected quarterly profit on lower expenses and forecast strong third-quarter earnings.

The company expects third-quarter adjusted earnings of 31 cents to 36 cents a share on revenue of $121 million to $126 million.

Analysts were looking for earnings of 30 cents a share, excluding items, on revenue of $125 million, according to Thomson Reuters I/B/E/S.

Blue Coat saw sequential revenue growth in North America and Europe in the second quarter. Its product revenue rose 4 percent sequentially but fell about 10 percent on a year-over-year basis.

Product revenue contributes more than 60 percent of company's total revenue.

For the second quarter ended Oct. 31, the company posted a net income of $8.4 million, or 19 cents per share, compared with a net loss of $0.3 million, or 1 cent per share, a year earlier.

Excluding items, the company posted earnings of 29 cents a share. Revenue rose 1 percent to $120.4 million.

Analysts expected earnings of 26 cents a share, excluding exceptional items, on revenue of $120.1 million.

ABOUT PennyStockPickReport.com

 Penny Stock Pick Report is an independent electronic publication that provides information on selected publicly traded companies. Penny Stock Pick Report is not a registered investment advisor or broker-dealer. Penny Stock Pick Report affiliates, directors, officers, and employees may purchase and sell additional shares in any company which are mentioned above and may profit in the event those shares rise in value. Please do your research before you plan to invest in any of the stocks mentioned above.