BoxHill on sale: Downgraded 1/5/99 after warning on 1/4/99.
Salomon Smith Barney Drops Box Hill To Neutral, Rates 4 Others (BXH)
Newstraders - January 05, 1999 08:45
(NewsTraders.com)-- Salomon Smith Barney today slashed its rating on Box Hill Systems (BXH) from "buy" to "neutral," according to a source at the firm.
Box Hill, which markets data storage systems, yesterday said it would miss analysts' fourth quarter earnings.
Monday January 4, 9:58 am Eastern Time
Box Hill sees Q4 EPS below estimates
NEW YORK, Jan 4 (Reuters) - Box Hill Systems Corp., a provider of data storage systems, said Monday it would post a slight profit for the fourth quarter, significantly below expectations.
Box hill said it expects fourth quarter revenues to be $14 to $15 million, down from $20 million a year earlier.
According to First Call, analysts' consensus estimate for Box Hill's fourth quarter earnings is $0.15 a share, compared with $0.16 in the year-earlier fourth quarter.
The company said it had lower revenues from all industries that it serves, which may have been due in part to overall economic uncertainty.
Box Hill said the lower revenues were particularly evident in the financial services industry, which accounts for a significant portion of company revenues.
Speaking of StorageTek,
Tuesday January 5, 2:50 pm Eastern Time
FOCUS - StorageTek sees Q4 shortfall in revs, net
NEW YORK, Jan 5 (Reuters) - Storage Technology Corp.'s (NYSE:STK - news) shares fell on Tuesday after the data storage provider warned that fourth quarter profits would fall short of expectations due to lower-than-anticipated revenues from two new products.
Shares of Louisville, Colo.-based StorageTek -- as it is commonly called -- shed about 5 percent by mid-afternoon, this afternoon, trading at $32,625, off $1.81. Earlier, it hit a session low of $29.125. |
