Unexpected Profit

GlobeSpan unexpectedly reported a profit for the fourth quarter of $927,000, or 4 cents a share, as revenue jumped 150% to $21.1 million. Analysts expected a loss of 4 cents. For the year before, it had a net loss of $5.4 million, or 45 cents. The company, which makes chips that enable high-speed data transmission over copper phone lines, said it will split its stock 3-for-1 on Feb. 15. GlobeSpan reported the results after the close of U.S. markets. The stock closed up $11.38 at $122.38 on Nasdaq, then rose as much as $22.63 to $145 in after-hours trading.