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USA Mobility Closes At Multi-Month High Following Quarterly Results

USA Mobility Inc. (USMO) gapped open higher on Friday and rose to a range within the first 30 minutes of trading. The stock drifted slightly higher throughout the remainder of the day. The move came following the release of quarterly results.

The stock ended the session at $10.40 up $2.28 from Thursday's close.

The advance came on strong volume and took the stock over resistance and to its highest level in nearly five months.

The company said that its second quarter net income was $10.3 million, or $0.37 per share, compared to $13.0 million, or $0.47 per share, in the year-earlier quarter.

Total revenue for the second quarter was $92.1 million, compared to $107.5 million in the second quarter of 2007.

The company also raised its fiscal 2008 revenues outlook to a range of $355 million - $360 million, from the previous guidance of $345 million - $355 million.

by RTT Staff Writer

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