Zoltek Popping 40% on Strong Q1 Results
Shares of Zoltek (NASDAQ: ZOLT) are seeing much strength during Friday's trading session after the company reported first quarter results which beat the Streets' estimates.
Zoltek`s net revenues for the quarter ended December 31, 2011, totaled $47.0 million, compared to $32.9 million in the first quarter of fiscal 2011, an increase of 43.2%. On a sequential quarter basis, net sales for the latest quarter increased $3.9 million, or 9.1%, from the fourth quarter of fiscal 2011.
Zoltek reported net income of $9.7 million ($0.28 per share) in this year`s first quarter, compared to a net loss of $1.6 million ($0.05 per share) in the first quarter of fiscal 2011. The Company`s operating income was $8.2 million in the first quarter of fiscal 2012, compared to an operating loss of $1.2 million in the previous year`s first quarter. Zoltek reported operating income of $1.0 million in the fourth quarter of fiscal 2011.
Currently, shares of Zoltek are trading about 41% higher at $13.39.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.