Gabelli On FOE 1Q11 Results

Gabelli & Company has issued a report regarding the 1Q11 results from Forre Corp FOE. Gabelli writes, "Overall results were stronger than we anticipated with revenue growth of 16% benefitting from Price, Mix and FX, which together contributed 17%, while Volume declined 1%. The main reason for the volume decline stems from products the company no longer sells due to its restructuring actions." FOE is Buy rated and closed at $16.68 a share yesterday.