LeCroy (NASDAQ:LCRY) EPS Raised on Bookings, Revenue, Earnings

A positive pre-announcement from LeCroy (NASDAQ:LCRY) boosted Needham's EPS estimates on the company, as bookings increased at the company, along with revenue and earnings.

Needham says, "LCRY continues to demonstrate strong bookings, revenue and earnings growth, as underscored by the company's upside preannouncement ahead of management's presentation yesterday at the Needham Growth Conference. We are raising our estimates for 2H and F12. Given the continued strength in the business and the company's vastly improved balance sheet, we believe LCRY shares can continue to work higher in 2011...We are increasing our F11 EPS estimate to $1.00 on revenues of $174.3M, up from our prior $0.90 EPS and $165.2 revenue estimates. We are increasing our F12 EPS estimate to $1.15 from $1.02, with revenues forecast to increase 10% next year to $191M, up from our prior $179.7M estimate. We believe there is upside to both our F11 and F12 estimates."

Needham & Company maintains a "Buy" rating on LeCroy, which closed at $13.48, down $0.17, or 1.25 percent. Needham raised their price target on LeCroy from $13 to $16.