Printronix Stock Climbs 25% on Doubled Earnings

Printronix Inc.’s stock soared 25% to hit a 52-week high in Nasdaq trading Thursday, a day after the printer manufacturer reported better-than-expected earnings for its latest quarter.

The Irvine-based maker of industrial and office printers credited higher orders from existing customers for its better performance in the quarter ended June 24. The company reported Wednesday that its profit more than doubled, to $1.4 million, or 42 cents a share, compared to $531,000, or 17 cents a share, for the same period last year.

Revenue rose 38%, to $33.5 million from $24.2 million.

Printronix stock closed Thursday at $11.25 a share, up $2.25. About 182,500 shares changed hands--more than 22 times the stock’s three-month average daily volume of about 8,000 shares. The stock was the ninth-highest percentage gainer on the U.S. composite index and the fourth-highest gainer on the Nasdaq system.