Shares of Web communications software firm OpenWave Systems (OPWV) were trading sharply higher after the company reported Q2 earnings per share from operations of $0.09. Robertson Stephens raised its EPS estimates on OpenWave and reiterated its buy rating on the stock.
Analyst Marianne Wolk told S&P MarketScope OpenWave had an excellent quarter, with the EPS and revenue figures surpassing her estimates -- and the Street's expectations as well. She notes that over 80 wireless carriers -- about half of the world's carriers -- have licensed the company's UP.Link Server; nealy 70% of the world's phone manufacturers licensed OpenWave's UP.Browser. Wolk says the company is leveraging its footprint by marketing value-added applications. She "aggressively" recommends the stock.
The analyst raised her $0.17 calendar 2001 EPS estimate to $0.50 and sees Calendar 2002 EPS of $0.78. She raised her $0.02 fiscal 2001 (June) EPS estimate to $0.27 and her $0.32 fiscal 2002 forecast to $0.64.