EVERETT – Shares of Intermec Inc. soared upward by more than $6 Friday, a day after the Everett-based technology company posted earnings that beat most analysts’ expectations.
When the dust from Friday’s frenzy cleared, Intermec’s stock ended trading at $25.84, up $6.05 or nearly 26 percent. That placed it among the biggest gainers on Wall Street.
More than 2.8 million shares traded hands, compared to a normal daily volume of 571,000.
Based in Everett, Intermec designs and makes handheld computers, bar-code scanners and related data collection technology. Its second-quarter earnings, released Thursday afternoon, actually were down from the same period last year.
But at $11.3 million, or 18 cents a share, they still beat the consensus of analysts, who expected earnings of about 11 cents a share for the quarter. Revenue for the second quarter was up about 6 percent, to $231 million, which also beat more analysts’ estimates.
With Friday’s stock jump, Intermec’s market value rose by $380 million to $1.86 billion, leapfrogging the value of Bothell-based ICOS Corp., which had been the most valuable public company based in Snohomish County.
Intermec’s share price is still more than $9 below its 52-week high of $38.81, which was reached in January
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