Worth noting:
1) Motorola, the US wireless communications and semiconducter maker, predicted that its second-quarter profits and sales would exceed analysts' expectations amid increased demand for its telephone handsets and continued improvement in computer chip sales. The group said it expected earnings in the range 37 cents to 42 cents a share, compared with analysts' predictions of 37 cents a share. Motorola shares were up $1.69 on the news at $84.625.
2)LISLE, Ill., April 14 /PRNewswire/ -- Telecommunications-equipment manufacturer Tellabs, Inc. (Nasdaq: TLAB), announced Wednesday that it began its 25th year of operation with the highest sales and earnings for any first quarter in company history. It was the company's second-best quarter, exceeded only by the all-time record sales and operating earnings reported in the fourth quarter of 1998.
Sales for the first quarter, ended April 2, were $469,651,000, up 43.4 percent from $327,502,000 a year earlier.
Net income for the first quarter was $103,718,000, up 52 percent from $68,244,000 a year earlier. Earnings per share of common stock on a diluted basis for the first quarter were 52 cents, compared with 37 cents for the first quarter of 1998.
3) NEPEAN, ON /April 14 /CNW/ - (TSE:JDS) - JDS FITEL Inc. announced today consolidated financial results for its third quarter ended February 28, 1999.
Revenues for the quarter were $122.6 million, up 109.6% from the $58.5 million achieved in the third quarter of fiscal 1998. Net income for the quarter was $26.7 million, representing a 118.9% increase over net income of $12.2 million for the third quarter of fiscal 1998. . . .
Earnings per share for the quarter was $0.34 based on 78.0 million average shares outstanding. This compares with $0.16 per share achieved for the same period of fiscal 1998 based on 76.6 million average shares outstanding.
4) SAN FRANCISCO, April 14 (Reuters) - Apple Computer Inc. extended its recovery with stronger-than-expected second quarter earnings on Wednesday, boosted by the colorful iMac computers and Power Macintosh G3s with an iMac-like design.
Apple's second quarter net income more than doubled to $135 million, or 84 cents a share, including one-time gains, from a net profit of $55 million, or 38 cents a share, a year ago.
Excluding special gains, Apple posted a profit of $93 million, or 60 cents a share in the latest quarter. That compared with analysts' expectations of 57 cents, according to First Call.
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