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Tuesday, November 17, 2009
Zoom Technologies Ups Guidance, Shares Rally
FOXBusiness
Zoom Technologies (ZOOM), a China-based provider of mobile technology, upped its guidance Tuesday, sending the shares up nearly 8%.
The company raised its revenue guidance to between $185 and $195 million and net income to between $6 million and $6.2 million, up from between $145 million and $155 million in revenue and $5.9 million and $6.1 million in net income.
Fiscal 2010 net income is expected to come in between $10.75 million to $11.25 million on an adjusted basis.
Shares of Zoom rose 7.9% to $8.24.
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