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Technology Stocks : Earnings: Small Cap Tech/ Software -- Ignore unavailable to you. Want to Upgrade?

To: SusieQ1065 who wrote (10)	7/25/2001 6:26:03 PM
From: 2MAR$	Respond to of 238

BBOX beat3c( $60-51-59) Earnings for First Quarter of Fiscal 2002 PITTSBURGH--(BUSINESS WIRE)--July 24, 2001--Black Box Corporation (Nasdaq:BBOX - news) EPS 89 cents prior to one-time charge vs. 72 cents for prior year's first quarter - Free cash flow $8.1 million vs. $1.4 million for prior year's first quarter - One-time charge of $5 million - Black Box Corporation (Nasdaq:BBOX - news) today announced earnings per share for the quarter ended June 30, 2001 of 89 cents, prior to a one-time charge, compared to 72 cents for the same period last year. Revenues for the quarter increased 21% to $207 million, up from $171 million for the same period last year. Net income for the quarter, prior to the one-time charge, was $18.3 million, or 8.8% of revenues, compared to $14.1 million, or 8.3% of revenues. Free cash flow for the quarter was $8.1 million, compared to $1.4 million for the same period last year. As seasonally expected, cash flow was down sequentially due primarily to funding of tax payments and annual compensation programs. Earnings per share were impacted by a sequential quarter decline of 9 cents from three of the Company's offices. More specifically, these three operations contributed a positive 7 cents to earnings per share in 4Q01 versus a loss of 2 cents in 1Q02. This sequential impact was primarily attributable to the cost structures of these three offices relative to revenues. This out-of-balance is expected to be corrected in 2Q02 with an anticipated sequential benefit from these operations of 6 cents to earnings per share. The one-time pre-tax charge of $5 million is attributable primarily to two specific accounts receivable from companies that filed for Chapter 11 bankruptcy protection during the quarter: Winstar Communications, Inc. and BroadBand Office, Inc. The Company reserved for 100% of its open receivables from these two accounts. The Company adopted Statement of Financial Accounting Standard No. 142, related to the amortization of goodwill. As a result of adopting the new standard, the Company's earnings per share increased during the quarter by 13 cents. Under the new standard, proforma earnings per share for the prior year first quarter would have been 82 cents. Commenting on the first quarter Fiscal 2002 results, Fred C. Young, Chief Executive Officer, said, ``Under the current economic climate we had a respectable quarter. We got it pretty much right except for 3 out of 77 offices and 2 out of 150,000 customers. ``For the quarter our total operating margins remained comparable with 4Q01 prior to the one-time charge. The operating margin for phone services was 20% and on-site operating margin was 12%. Excluding the three under-performing offices, on-site operating margin was 15%, up from a comparable 13%.'' Mr. Young went on to say, ``Even in today's challenging business climate, we expect to increase our profits and cash flow. The trick in today's environment is to keep costs in line with expected revenues. As an industry leader, we will continue to aggressively execute our business model focused on profitable growth via market share expansion.'' The Company will conduct a conference call beginning at 5:00 p.m. Eastern Time today, July 24, 2001. Fred Young, Chief Executive Officer, will host the call. To participate in the call, please dial 800-450-0786 approximately 10 minutes prior to the starting time and ask to be connected to the Black Box Earnings Call. This release contains forward-looking statements, which are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those projected. The statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and speak only as of the date of this press release. Black Box is the world's largest technical services company dedicated to designing, building and maintaining today's complicated network infrastructure systems. Black Box services clients in 132 countries throughout the world.

To: SusieQ1065 who wrote (10)	7/25/2001 6:36:38 PM
From: 2MAR$	Read Replies (1) \| Respond to of 238

PRGN ( $21-25) PeopleSoft, Peregrine Shares Rise on Strong Earnings NEW YORK (Reuters) - Shares of software companies Peregrine Systems Inc. (NasdaqNM:PRGN - news) and PeopleSoft Inc. (NasdaqNM:PSFT - news) rose sharply on Wednesday, a day after both firms posted solid earnings gains and reiterated financial guidance for the rest of the year. Shares of San Diego-based Peregrine soared 19.44 percent, up $4.16, to $25.60. PeopleSoft rose 6 percent, or $2.06, to $36.27. The companies' good news came amid a flurry of depressing earnings releases from other software firms, including i2 Technologies Inc. (NasdaqNM:ITWO - news), Commerce One Inc. (NasdaqNM:CMRC - news), Ariba Inc.(NasdaqNM:ARBA - news), Compuware Corp. (NasdaqNM:CPWR - news) and BMC Software Inc. (NYSE:BMC - news). After the markets closed on Tuesday, PeopleSoft, which makes software that lets companies automate their business processes, posted second-quarter earnings from recurring operations up 188 percent at $46 million, or 14 cents a share, compared with $16 million, or 6 cents a share, a year earlier. Analysts polled by Thompson Financial/First Call, on average, expected PeopleSoft to post a profit of 12 cents a share. License revenue also was higher than expected, jumping 51 percent from a year earlier, to $166.3 million. Excluding acquisition-related charges, Peregrine -- a maker of a range of software from systems management to electronic business products -- reported earnings of $19.5 million, or 12 cents a share, for its fiscal first quarter, compared with $12.1 million, or 10 cents a share, a year ago. The earnings beat analysts' estimates by 2 cents, according to First Call. In addition, Peregrine reaffirmed its guidance for the full year -- the company's fiscal 2002 -- saying it expects earnings to be up 25 to 35 percent from last year's 53 cents a share. It said revenues would increase 30 to 40 percent from fiscal 2001's $564.7 million. For fiscal 2002, analysts' consensus earnings forecast is 68 cents a share, with estimates ranging between 66 cents and 70 cents, according to First Call. The consensus revenue forecast is $795.6 million, according to First Call. PeopleSoft Chief Executive Craig Conway told analysts the software maker's third-quarter license revenue and earnings would be up from the second quarter, and he reiterated the company's forecast for full-year earnings of 55 to 60 cents a share and license revenue growth of ``slightly over'' 35 percent. Conway also said the company was comfortable with Wall Street's consensus earnings estimate for the fourth quarter of 19 cents a share. The news prompted brokerage firm Salomon Smith Barney to raise its on PeopleSoft shares to ``buy'' from ``outperform'' and to increase its earnings estimate for the third quarter to 15 cents from 14 cents. ``Second-quarter 2001 results reiterate our thesis that PeopleSoft can outperform in the current environment,'' analyst Gretchen Teagarden said in a research note. She cited what she called the company's superior Web architecture, as well as its new customer-relationship-management software, limited exposure to a slowdown in Europe, and large customer base. Bear Sterns reiterated its ``buy'' rating on Peregrine and said it was leaving its fiscal 2002 earnings per share estimate unchanged. ``We believe Peregrine's consistency stems from a diversified portfolio of 100 products, a pragmatic value proposition, and guidance that had anticipated the general weakness now in evidence,'' analyst David Breiner said in a research note.