News

Pinnacle Exceeds Street Estimates

3/31/2002 7:00 PM Eastern

Morgan Keegan & Co. analyst Murray Arenson restated his "outperform" rating on Pinnacle Systems Inc. after the company said it expects to exceed third-quarter revenue and per-share earnings estimates.

Pinnacle supplies video equipment to such broadcasters and cable operators as AOL Time Warner Inc. Arenson raised his 2002 year-end revenue estimate to $228 million from $220.7 million, and trimmed his expected net loss for the year to 4 cents per share from 12 cents per share. Pinnacle closed at $8.08 on March 26, up 10 cents.

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