Feb 2 (Reuters) - Shares of RealD Inc rose 21 percent a day after the licensor of 3D technologies posted a surprise profit on higher gross margins.
The Los Angeles-based company’s shares, which have lost more than half their value in a year, rose to $11.86 in early morning trade on the Nasdaq. They later pared some gains to trade at $11.48.
Third-quarter net profit was $2.8 million, or 5 cents a share, compared with a net loss of $16.6 million, or 34 cents per share, a year ago.
Gross margins for the company, which competes with Imax Corp , Dolby Laboratories Inc and privately owned Masterimage 3D, jumped to 49 percent from 11 percent a year ago. (Reporting by Siddharth Cavale in Bangalore; Editing by Don Sebastian)