Energy Conversion shares rise on 3Q results

The Rochester Hills, Mich.-based company said quarterly profit totaled $7 million, or 17 cents per share, compared with a year-ago loss of $6.9 million, or 17 cents per share.

Revenue more than doubled to $70 million from $27.4 million, as product sales rose to $65.4 million from $23.2 million last year.

Analysts polled by Thomson Financial expected a loss of 6 cents per share on revenue of $66.7 million.

The company said it expects fiscal fourth-quarter revenue to be between $73 million and $78 million, while analysts expect revenue of $73.1 million.

Shares rose $11.59, or 33 percent, to $46.40 during morning trading, after earlier trading to a 52-week high of $48.12. The stock had traded between $20.47 and $36.90 over the past 52 weeks.