Irvine’s Printronix Inc., a maker of printers for producing radio frequency identification tags, told investors to expect better-than-anticipated results when numbers for the December quarter come out next week.
The news sent Printronix’s shares up nearly 30% in afterhours trading on Tuesday. The company counts a market value of about $80 million.
Printronix said it expects quarterly sales of $34.7 million to $34.9 million, surpassing the high end of what analysts had been expecting.
Profits also should exceed expectations, it said.
The upward revisions “reflect the unanticipated closing of several large transactions during the quarter, especially in the automotive industry,” Printronix said.
The company is set to report results on Feb. 7.
Printronix, a longtime maker of printers for manufacturers and warehouse operators, has gone after the market for radio frequency identification tags,labels embedded with tiny chips to store data.
Companies use Printronix printers to produce the labels, which go onto shipping pallets, boxes and products themselves.
