3 new BUY ratings today...
8:49 am Harris Stratex Networks started at Buy at Merriman
8:30 am Harris Stratex Networks started at Buy at Needham
7:47 am Harris Stratex Networks started at Buy at Merriman Curhan Ford
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Updates from last night...
Harris Stratex Networks outlines results, outlook
(4:57 PM ET) SAN FRANCISCO (MarketWatch) -- Harris Stratex Networks Inc.after Tuesday's closing bell said that Stratex Networks Inc. posted second-quarter earnings of $3.8 million, or 4 cents a share, up from $800,000, or a penny a share, during the year-ago period. Stratex reported revenue of $70.7 million vs. $55.5 million. The merger between Stratex and the microwave communications division of Harris Corp.closed on Jan. 26. Harris Stratex also provided results for its microwave communication division, or MCD. MCD posted quarterly net earnings of $5.8 million. A year ago, the division reported a net loss of $37.4 million. MCD's revenue was $101.2 million compared with $88.7 million. Harris Stratex said that pro forma revenue for the combined company for the first half of fiscal 2007 was $332.8 million. Pro forma earnings for the period were $29.9 million vs. $13.4 million. For the second half of fiscal 2007, Harris Stratex said it expects pro forma earnings of $25 million to $28 million, or 43 cents to 47 cents a share, on revenue of $340 million to $350 million.
Harris Stratex 2Q EPS 4c Vs 1c>HRS
Dow Jones Newswires - January 30, 2007 5:01 PM ET
Harris Stratex Networks Inc. (HSTX) after Tuesday's closing bell said that Stratex Networks Inc. posted second-quarter earnings of $3.8 million, or 4 cents a share, up from about $800,000, or a penny a share, during the year-ago period.
Stratex reported revenue of $70.7 million vs. $55.5 million.
The merger between Stratex and the microwave communications division of Harris Corp. (HCR) closed on Jan. 26.
Harris Stratex also provided results for its microwave communication division, or MCD.
MCD posted quarterly net earnings of $5.8 million. A year ago, the division reported a net loss of $37.4 million.
MCD's revenue was $101.2 million compared with $88.7 million. Harris Stratex said that pro forma revenue for the combined company for the first half of fiscal 2007 was $332.8 million.
Pro forma earnings for the period were $29.9 million vs. $13.4 million.
For the second half of fiscal 2007, Harris Stratex said it expects pro forma earnings of $25 million to $28 million, or 43 cents to 47 cents a share, on revenue of $340 million to $350 million.
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More headlines from last night...
4:20 pm Harris Stratex sees H207 pro forma earns 43c-47c
4:19 pm Harris Stratex sees H207 rev $340M-$350M
4:19 pm Harris Stratex Q2 rev $70.7M vs $55.5M
4:18 pm Harris Stratex Q2 net earns 4c vs 1c
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Trading is up nicely this morning. Trading range so far is $20.49 to $21.00/share. Volume has seemed low to me these past two days, hopefully it will pick up today. My broker still hasn't figured things out and my on-line statement still shows STXN. This sort of thing might be holding back retail trading activity. |
