Earnings' press:
April 19, 2000
SDL Inc. 1Q Oper Net 22c/Diluted Shr Vs 8c
Dow Jones Newswires
SDL Inc. - San Jose
March 31:
2000 1999
Revenues $72,206,000 $37,666,000
Net income a 14,244,000 b 2,623,000
Avg shrs (basic) 72,019,000 60,176,000
Avg shrs (diluted) 76,507,000 64,296,000
Shr earns (basic)
Net income a .20 b .04
Shr earns (diluted)
Net income a .19 b .04
a. On a pro-forma basis, excluding acquisition-related charges of $1.2 million, amortization costs of $1.7 million and non-cash stock compensation expenses of $654,000, SDL earned $17 million, or 22 cents a share .
b. On pro forma basis, excluding acquisition related charges, amortization, and non-cash stock compensation costs, earnings were $4.9 million, or 8 cents share.
SDL Inc. (SDLI) attributed improved first quarter results to "significant" increases in shipments of communications products for both terrestrial and undersea fiber optic systems.
SDL provides fiber optic networks.
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After Hours: Post-market trading
Apple tops Street's view and sets stock split
By Brenon Daly, CBS MarketWatch
Last Update: 5:36 PM ET Apr 19, 2000 NewsWatch
NEW YORK (CBS.MW) -- Apple shares edged higher in evening trading Wednesday after the resurgent computer maker topped analysts' projections and set a 2-for-1 stock split.
The company (AAPL: news, msgs) said it earned $233 million, or $1.28 per share, including a 40 cent per share investment gain. Excluding that one-time item, Apple earned 88 cents per share, which is 7 cents ahead of Wall Street projections. The stock closed the session off 5 3/4 to 121 1/8 and moved to 123 7/16 on Island. See related story.
Today on CBS MarketWatch
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Apple sails past Street estimates
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Updated:
04/19/2000 5:31:20 PM ET
Shares of CNet edged higher in the evening session after the online media company reported an unexpected profit in the first quarter. The company (CNET: news, msgs) earned $1.5 million, or 2 cents per share, excluding one-time items. Analysts surveyed by First Call expected a loss of 6 cents per share. Additionally, the company's board cleared the way for a $100 million stock buyback. The stock closed up 5/8 at 31 1/2 and moved to 36 1/2 on Island. See related story.
Veritas said it earned $51.6 million, or 12 cents per share, in the first quarter. In the same quarter last year, the storage software company (VRTS: news, msgs) earned $27.7 million, or 7 cents per share. Analysts polled by First Call expected earnings of 11 cents per share. The stock closed off 1/8 at 105 3/16 and held that level in after-hours trading.
SDL posted first-quarter earnings of $17 million, or 22 cents per share, up from $4.9 million, or 8 cents per share, in the same quarter last year. Analysts predicted earnings of 16 cents per share. Sales at the fiber optic company (SDLI: news, msgs) nearly doubled to $72.2 million. The stock closed up 1 7/8 at 162 3/8 and held that level after hours.
Commerce One reported a narrower-than-expected loss in the first quarter as sales surged to $35 million from $2.1 million. The maker of auction software (CMRC: news, msgs) lost $14 million, or 9 cents per share, compared to $7.8 million, or 9 cents per share, in the same quarter last year. Analysts surveyed by First Call expected a loss of 24 cents per share. The stock gained 16 percent to 95 7/16 ahead of the release and traded at 98 on Island. See related story.
Vignette broke even in its first quarter, excluding one-time items. That reverses a loss of 5 cents per share in the same quarter last year and compares to analysts' expectations of a loss of 2 cents per share. Sales at the maker of e-commerce software (VIGN: news, msgs) jumped ninefold to $55.2 million. The stock closed up 3 13/16 at 60 9/16 and eased to 57 1/2 on Island.
Digimarc reported a narrower-than-expected first quarter loss as sales more than doubled. The company (DMRC: news, msgs) said it lost $2.5 million, or 19 cents per share, compared to $129,000, or 6 cents per share, in the same quarter last year. The consensus estimate foresaw a loss of 24 cents per share. The stock closed up 1/8 at 25 1/4 and wasn't active after hours.
Keynote Systems blew Wall Street estimates away, announcing a second quarter loss 12 cents narrower than expected. Keynote Systems (KEYN: news, msgs) recorded a net loss of $441,000, or 2 cents a share, compared with a pro-forma loss of $1.1 million, or 8 cents a share, for the same period last year. Analysts surveyed by First Call expected a loss of 14 cents a share. Shares jumped 9 3/8, or 26 percent, to 45 ahead of the announcement.
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April 19, 2000 17:21
SDL looks to expand manufacturing capacity
SAN JOSE, Calif., April 19 (Reuters) - Fiber optic component maker SDL Inc. , which reported higher earnings on Wednesday, said it needs to expand its manufacturing capacity sooner than anticipated.
Chief Executive Officer Donald Scifres said the company is considering sites in Witham, England; Santa Clara, Calif., and Plainfield, N.J., the site of recently acquired SDL Veritech.
The company recently expanded its fiber plant in Norwood, Mass.
"We expect that our present facilities will be capable of meeting growing customer demand as we move to increased work shift coverage and investment in more automated production equipment in our existing factories," Scifres said in a statement.
On Wednesday the company reported pro forma net income of $17 million, or 22 cents per diluted share, on a record $72 million in revenues for the first quarter, spurred by demand for undersea and land systems. SDL earned $4.9 million, or 8 cents a share in the year-ago period.
Results for the first quarter included results of Queensgate Instruments, which the company acquired for about $210 million in stock and cash on March 8. SDL Queensgate contributed $929,000 to consolidated revenue in March. Including acquisition-related and other charges, the company earned $14.2 million, or 19 cents per diluted share for the quarter.
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April 19, 2000 16:29
TABLE - SDL Q1 pro forma net rises
SAN JOSE, Calif., April 19 (Reuters) -
(in millions, except share amounts)
Three months ended March 31 2000 1999
Revenues $72.2 $37.7
Gross profit (a) 34.6 15.3
Income from operations (a) 22.0 5.9
Income before income taxes (a) 26.5 6.2
Net income (a) 17.0 4.9
Net income per diluted share (a) 0.22 0.08
Diluted weighted average shares outstanding 76.5 64.3
NOTE (a) Pro forma results for the quarter ended March 31, 2000 exclude the in-process research and development charge related to the Queensgate acquisition, amortization of purchased intangible assets and non-cash stock compensation expenses. Pro forma results for the quarter ended March 31, 1999 exclude the in-process research and development charge and other charges related to the Polaroid fiber laser acquisition,amortization of purchased intangible assets and non-cash stock compensation expenses.
Including acquisition-related and purchased intangibles amortization charges and non-cash stock compensation expense, the company reported GAAP net income of $14.2 million, or $0.19 per diluted share for the quarter. This includes a $1.2 million charge for in-process research and development related to the Queensgate transaction, $1.7 million of amortization of purchased intangible assets and $654,000 of non-cash stock compensation expense.
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Earnings Surprises
Medimmune set to rise on earnings
Plus: Applied Micor Circuits, Atmel, Cnet, Apple
By Barbara C. Costanza, CBS MarketWatch
Last Update: 7:49 PM ET Apr 19, 2000 Earnings Screen
Hardware Report
Positive surprises
Medimmune Inc. (MEDI: news, msgs) shares could get a boost Thursday morning, due to better-than-expected earnings. The company recorded first-quarter net income of $58 million, compared with the year-ago total of $25.7 million, or 38 cents a share. Analysts' estimates came in at 78 cents, according to figures compiled by First Call. Revenue rose 46 percent over last year to $198.3 million. The company also said gross margins in the quarter were 77 percent compared with 75 percent in the year-ago quarter. The stock closed down 4 7/16 to 146 9/16.
Applied Micro Circuits (AMCC: news, msgs) reported fourth-quarter earnings rose to $20.6 million, or 16 cents a share, up from $3.4 million, or 3 cents, in the year-ago quarter. The consensus estimate on Wall Street was for a profit of 14 cents a share. The company reported revenue of $57 million, up 98 percent over the $28.7 million recorded in the year-ago period. The stock closed down 4 1/8 to 103 1/8.
Harmonic Inc. (HLIT: news, msgs) flew in with first-quarter earnings of $9.3 million, or 28 cents a share, up from $1.3 million, or 5 cents a share, earned in the year-earlier period. Analysts polled by First Call expected a profit of 22 cents a share. Revenue came in at $62.9 million for the latest quarter, up 108 percent over the year-ago period. Shares closed up 2 15/16 to 75 15/16.
Shares of Triquint Semiconductor (TQNT: news, msgs) could get a boost in morning trading due to better-than-expected earnings. Revenue for the first-quarter totaled $59.3 million, up 76 percent over the year-ago period, while net income rose 237 percent over last year to $10.8 million, or 25 cents a share. Analysts expected a profit of 19 cents a share. Shares gained 7/8 to close at 79 1/16.
Shares of Atmel (ATML: news, msgs) could rise due to the company's positive earnings surprise. First-quarter net income totaled $41.9 million, or 19 cents a share, compared with $33 million, or 16 cents a share a year earlier. Analysts polled by First Call expected a profit of 18 cents a share. Revenue rose 48 percent over last year to $429.2 million. "Revenues for the first quarter of 2000 were Atmel's highest ever, and we are extremely pleased with our growth and profit performance," said George Perlegos, president and chief executive officer. Revenue was drive by continued product sales strength, particularly in high density Flash and BiCMOS ASICs. Shares closed down 3 5/16 to 50 7/8.
After the market closed, Microchip Technology Inc. (MCHP: news, msgs) reported first quarter sales of $140.8 million, an increase of 37 percent over the year-ago period. Net income for the quarter totaled $30.6 million, or 37 cents a share, beating the consensus estimate on Wall Street by a penny. Shares closed down 6 1/16 to 59 1/16.
TiVo (TIVO: news, msgs) reported a narrower-than-expected first-quarter loss. The company said it lost $24 million, or 68 cents a share, compared to a deficit of $5.5 million, or $1.62 a share, in the same period last year. Analysts expected a loss of 73 cents a share. Revenue was $424,000 in the March period. In the same quarter last year, TiVo recorded no revenue. TiVo makes software for personal video recorders. Shares (TIVO: news, msgs) were unchanged at 20 3/16 Wednesday ahead of the announcement, which came out after the market closed. See full story.
Internet company Cnet Networks (CNET: news, msgs) said its pro forma first-quarter net income totaled $1.5 million or 2 cents a share. Analysts polled by First Call expected a loss of 6 cents a share. Including one-time items, Cnet posted a net loss in the quarter of $19.5 million or 23 cents a share, compared with a profit last year of $20.4 million or 23 cents per share. Revenue rose to $45.4 million, compared with $20.1 million in the year-ago period. Shares traded up 5/8 to 31 1/2.
After the market closed, ExciteAtHome Corp. (ATHM: news, msgs) reported a first quarter loss of $4.6 million, or 1 cent a share, compared with a loss of $6 million, or 2 cents a share, in the year ago quarter. According to First Call, analysts expected the company to break even. Shares closed down 2 15/16 at 19 15/16.
Veritas Software Corp. (VRTS: news, msgs) reporter first-quarter earnings of 12 cents a share, a penny ahead of the consensus estimate and 5 cents better than the year-ago period. Revenue totaled $244.6 million, compared with $71.9 million in the year-ago period. Shares closed down 1/8 to 105 3/16.
SDL posted first-quarter earnings of $17 million, or 22 cents per share, up from $4.9 million, or 8 cents per share, in the same quarter last year. Analysts predicted earnings of 16 cents per share. Sales at the fiber optic company (SDLI: news, msgs) nearly doubled to $72.2 million. The stock closed up 1 7/8 at 162 3/8 and held that level after hours.
Apple Computer Inc. (AAPL: news, msgs) reported better-than-expected earnings, along with a two-for-one stock split. Excluding a one-time gain , the company earned $160 million, or 88 cents a share in the second quarter, while analysts expected a profit of 81 cents a share. Including the gain, the Cupertino, Calif-based computer company reported net income rose to $233 million, or $1.28 a share, compared with $135 million, or 84 cents a share, in the year-ago period. Revenue totaled $1.94 billion, up from $1.53 billion in the year-ago period. Gross margins rose to 28 percent, up from 26.3 percent in the year-ago period. Shares fell 5 3/4 to 121 1/8. See full story. |
