Clarify Inc.(CLFY: news, msgs) shares jumped 4.3 percent Friday morning after the provider of front office solutions posted improved earnings and a 84 percent increase in revenue. Revenue hit $63.3 million for the third quarter, an increase of 84 percent from the $34.5 million in revenue reported in the same quarter last year. Net income for the just-ended third quarter was $5.9 million or 23 cents a share vs. net income of $2.0 million or 9 cents a share in the year-ago period. The per-share profit also beat the consensus estimate by 4 cents a share. Shares traded up 3 5/8 to 70. See press release.
HMT Technology Corp. (HMTT: news, msgs) shares jumped 17 percent higher when the company posted a narrower-than-expected loss for the second quarter. The net loss totaled $13 million, or 29 cents a share, 2 cents better than analysts expected and 14 cents better than the year-ago period. Sales slipped to $44.8 million from $44.9 million in the year-ago period. The thin-film disks manufacturer added that the demand outlook for the third quarter is currently very strong. Shares gained 1/2 to 3 23/32. See press release.
Nextcard (NXCD: news, msgs) shares gained 3 11/16 to 32 1/16 after the company said its third-quarter loss was 50 cents a share, a nickel more than the same period last year but 2 cents narrower than First Call estimates. See full story.
CNet (CNET: news, msgs) posted a narrower-than-expected third-quarter loss, along with a 93 percent surge in revenue. The media company recorded a pro forma net loss of $23.1 million, or 32 cents a share, excluding a one-time gain. In the year-ago period, CNet posted pro forma net income of $1.7 million, or 2 cents. The consensus estimate called for a loss of 33 cents a share. CNet's revenue for the quarter hit $28.4 million, compared to revenue of $14.7 million last year. Shares fell 5 7/8 to 47 11/16. See full story.
Shares of Sweden's Ericsson (ERICY: news, msgs) jumped 4 11/16 to 38 1/2 after the cellular phone maker posted a narrower-than-expected third-quarter profit of 16 cents a share. The Wall Street consensus estimate was 15 cents a share. The company also raised its sales forecast for the full-year because of rising demand for its network equipment. See full story.
Shares of American Power Conversion Corp. (APCC: news, msgs) soared 20 percent after the company surpassed analysts' earnings estimates in a report that marked the 15th consecutive quarter that it has met or exceeded Wall Street targets. Net income for the third quarter totaled $62.1 million, or 32 cents a share, compared to $46.6 million, or 24 cents a share, in the year-ago period. Analysts expected a profit of 27 cents a share. Sales reached $355.9 million, up 9 percent from the $327.4 million recorded last year. The company added that it expects full-year earnings of about $1.03 a share, 10 cents higher than previously anticipated. Analysts currently expect a profit of 95 cents a share. Shares rose 3 7/16 to 20 11/16. See press release.
Symbol Technologies (SBL: news, msgs) jumped 14 percent after the mobile data management systems company reported third-quarter earnings of $30.8 million, or 33 cents a share. Analysts anticipated a profit of 32 cents. Revenue for the third quarter was $293.0 million, 14 percent higher than the $256.8 million in the year-ago period. Net income was also 23 percent higher than the $25.1 million, or 27 cents a share last year. The stock gained 4 7/16 to 37 3/8.
Shares of Halliburton (HAL: news, msgs) rose 3.4 percent based on the company's third-quarter earnings report. Net income totaled $58 million, or 13 cents a share, compared to a loss of $527 million, or $1.20 a share, in the year-ago period. Analysts polled by First Call anticipated a profit of 12 cents a share. Revenue decreased year-on-year from $4.2 billion to $3.5 billion. Shares rose 1 1/4 to 38 1/2.
Shares of Check Point Software (CHKP: news, msgs) posted net income of $24.7 million, or 60 cents a share, compared to $16.9 million, or 45 cents a share. Analysts polled by First Call anticipated a profit of 56 cents a share. Revenue increased to $57.8 million, from $35 million in the year-ago period. Shares climbed 4 1/4 to 102 3/8.
First Data (FDC: news, msgs) posted third-quarter earnings of $207 million, or 48 cents a share, on revenue of $1.3 billion. The report exceeded the consensus estimate by a penny and the year-ago total by 6 cents a share. The company cited growth in Western Union international, operating execution from merchant alliances and new card account conversions as the fuel for its double-digit revenue and profit growth. Shares of the electronic commerce company rose 3 11/16 to 44 15/16.
Electronic Arts (ERTS: news, msgs) posted second-quarter revenue of $339 million, an increase of 38 percent over the year-ago total of $246 million. Earnings increased 69 percent to $18.1 million, or 28 cents a share, compared to $10.7 million, or 17 cents a share. The consensus estimate on Wall Street was a profit of 25 cents a share. Shares fell 1/16 to 69 13/16.
Cox Radio (CXR: news, msgs) reported third-quarter earnings that smashed most analysts' estimates on strong same-station revenue growth. The company said its profit from operations was $9.2 million, or 32 cents a basic share, compared to $7 million, or 25 cents a share, in the year-ago period. Analysts polled by First Call were expecting a profit of 29 cents a share. The current-year figure excludes a $900,000 after-tax gain on the sale of two Louisville, Ky. stations. The stock rose 1 1/4 to 62 15/16.
Lam Research Corp. (LRCX: news, msgs) reported 1999 first-quarter earnings of $24.7 million, or 58 cents a share, on revenue of $241 million. Analysts polled by First Call expected a profit of 48 cents a share. Last year, the company posted a loss of $26.8 million, or 70 cents a share, on revenue of $210.9 million. Shares fell 1 1/2 to 75 9/16.
Dollar Tree Stores (DLTR: news, msgs) reported third-quarter net income of $16 million, or 24 cents a share, better than the year-ago profit of $12 million, or 18 cents a share. Analysts expected a profit of 23 cents a share. Sales rose 26 percent to 265.4 million, over the year-ago total of $55.4 million. Shares inched up 2 11/16 to 39 1/8.
Sapient (SAPE: news, msgs) posted third-quarter net income of $8.87 million, or 29 cents per share, compared with net income of $5.64 million, or 19 cents per share, in the same quarter last year. Earnings exceeded the consensus estimate on Wall Street of a 28-cent profit. Revenue increased 70 percent to $73 million in the third quarter. Shares jumped 13 1/4 to 114 5/8.
Reebok International (RBK: news, msgs) posted third-quarter net income of $27.6 million, or 49 cents a share, a penny ahead of the consensus estimate. However, the company posted net income of $28.2 million, or 50 cents a share, in the year-ago period. Also, sales slipped to $793.9 million, from $878.3 million in the year-ago quarter. The stock rose 2 1/8 to 11.
LSI Logic Corp. (LSI: news, msgs) posted third-quarter net income reached $55 million, or 35 cents a share, on revenue of $540 million, compared to $31 million, or 21 cents a share, on revenue of $397 million in the second quarter. The report exceeded the year-ago total of $23 million, or 16 cents a share, by 139 percent. Analysts expected a profit of 30 cents a share. The company added that its "well positioned" for growth in the fourth quarter. Shares fell 1 1/8 to 48 7/8.
Inktomi Corp. (INKT: news, msgs) posted a loss of $4.9 million, or 9 cents a share, while analysts expected a loss of 10 cents a share. The report improved over the year-ago loss of $8.5 million, or 18 cents a share. Revenue for the quarter totaled $26.2 million, up 217 percent over the year-ago period. Shares fell 16 3/4 to 103 3/4.
Cheescake Factory (CAKE: news, msgs) served up third-quarter profits of $5.8 million, or 27 cents a share, with revenue of $91.9 million. Analysts were expecting a profit of 26 cents a share and last year the company posted a per-share profit of 19 cents a share. Shares rose 11/16 to 27 3/16.
Shares of software company Sybase (SYBS: news, msgs) 12 percent on news the company posted better-than-expected earnings. Third-quarter earnings totaled $16 million, or 19 cents a share, compared to $2.2 million, or 3 cents a share. Analysts expected a profit of 14 cents a share. Revenue increased to $216.1 million, up from $210.2 million. Shares gained 1 5/16 to 12 3/8.
General Instrument (GIC: news, msgs) shares got a boost of 4.9 percent due to the company's third-quarter earnings report. Net income totaled $48.9 million, or 26 cents a share, excluding one-time items, compared to $39.4 million, or 22 cents a share. Analysts anticipated a profit of 24 cents a share, according to First Call. General Instrument and Motorola both filed their pre-merger notification forms with the U.S. Federal Trade Commission. Shares rose 2 3/8 to 51 11/16.
Verisign (VRSN: news, msgs) posted a positive surprise for the third quarter. Net income hit $1.6 million, or 3 cents a share, beating the consensus estimate by a penny. Revenue rose to $18.7 million, from $10.5 million in the year-ago period. Earnings also beat the year-ago loss of 9 cents. Shares fell 1/2 to 113 1/8.
SportsLine reported a narrower-than-expected third-quarter loss as sales at the online sports site doubled. The company (SPLN: news, msgs) lost 72 cents a share, compared to analysts' projection of a loss of 80 cents. The company reported an average of 9.3 million page views per day in the third quarter, up from 5.2 million page views per day in the same quarter last year. Shares rose 1 9/16 to 27 1/2.
Earnings Advisories
Applied Analytical Industries (AAII: news, msgs) said third-quarter earnings will fall short of the Wall Street estimate. The company anticipates a loss for the quarter, while analysts expect the company to break even for the third quarter. "We are signing larger and more profitable contracts, but these larger projects have longer lead-in and start-up times," noted Dr. Fred Sancilio, president and chief executive officer. Shares were down 5/8 to 9 1/8.
Meadowbrook Insurance Group (MIG: news, msgs) shares slipped news of shortfalls in new business and continued pricing pressures in the commercial insurance market that will likely result in a third-quarter operating loss. Analysts polled by First Call currently expect a profit of 26 cents a share. Shares traded down 1/2 to 8 7/8.
Shares of the trash collector Waste Management (WMI: news, msgs) were unchanged after earlier falling 7.1 percent on news the company warned of a third-quarter shortfall. Waste Management said preliminary findings of an internal audit are likely to have "a material unfavorable impact" on its third quarter and 1999 fiscal year. The company was expected to earn 47 cents in the third quarter and $2.05 cents for the year, according to First Call. The stock was flat at 16 13/16. See full story.
Gillette shares slipped 5.9 percent after the troubled consumer products company warned that the fourth quarter will fall below previous year's level. The company (G: news, msgs) said fourth-quarter sales will decline in the "mid-single digits" and earnings will "decrease in the middle to high teens." Analysts expected Gillette to earn 42 cents a share, up from 39 cents in the fourth quarter of 1998. The warning came as Gillette matched analysts' third quarter lowered expectations of 32 cents a share. Sales slipped 1 percent to $2.5 billion amid flagging sales of its Braun and paper products. Gillette stock fell 2 1/4 to 35 5/8.
Learning Tree said it expects to earn more than analysts expected as it is selling more high-profit products. The computer training company (LTRE: news, msgs) said it expects to earn 24 to 27 cents a share compared to Wall Street expectations of 17 cents a share. The stock traded up 2 to 19. |
