Syniverse Holdings Inc. (SVR) reported net income of $20.4 million, or $0.30 per share for the second quarter, up from $11.69 million, or $0.17 per share a year ago.
Cash net income, a non-GAAP financial measure, was $28.4 million, or $0.42 per share for quarter, a 58.9% increase compared to $17.86 million, or $0.26 per share in the second quarter 2007.
Analysts polled by First Call/Thomson Financial expected the company to earn $0.37 per share for the quarter.
Quarterly revenues rose 39.7% to $127.6 million from $91.37 million in the prior-year period, and came in above the Street estimate of $117.18 million.
The company revised guidance for fiscal 2008 and now expects net income in the range of $69 million to $74 million on revenues of $485 million to $495 million. Cash net income is expected between $105 million to $110 million. Analysts are looking for earnings of $1.48 on revenues of $467.27 million.
For comments and feedback: editorial@rttnews.com