First Albany Upgrades NMS Communications
First Albany upgrades NMS Communications (NMSS ) to strong buy from buy.
Analyst Frank Marsala says his upgrade of NMS follows an upbeat conference call by the company. He notes prior to the conference call, Street estimates had called for a 3-cent second-quarter loss on $23.5 million revenue and a 4-cent 2005 loss on $100.5 million in revenue.
He believes both sets of numbers should improve, given the company's guiding to a small loss to breakeven for the second quarter on $25 million to $26 million in revenue and breakeven results to 5 cents earnings per share for 2005 on $105 million to $110 million in revenue.
To be more in line with guidance, Marsala cuts 2005 estimates to 5 cents earnings per share on $110 million revenue from 12 cents earnings per share on $111.9 million revenue. He sees 17 cents 2006 earnings per share on $127.9 million in revenue. He sets a $5 price target.
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