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17:46 ET TXN Texas Instruments (32.13 +0.33) -- Update --
On call, company says operating margin will increase in Q2 due to higher sales...maintains its cap-ex budget of $800 mln. Q1 was below forecast, but that should be made up later in the year...stock at 33.14.
17:44 ET TXN Texas Instruments (32.13 +0.33) -- Update --
On conference call, company says it is seeing positive signs for revenue growth. Book-to-bill was above one for each segment....Orders were up 20% sequentially....stock at 33.10.
17:43 ET NVLS Novellus winning analyst praise (50.40 +1.69) -- Update --
Call just concluded... tone from NVLS management was pretty upbeat throughout call and most analysts commended NVLS for its Q1 performance and Q2 guidance... NVLS +3.34 at 53.74
17:32 ET ACF AmeriCredit tops Q3 consensus, guides Q4 in line (42.28 -0.87)
Reports Q3 (Mar) earnings of $1.02 per share, $0.06 better than the Multex consensus of $0.96; revenues rose 13.1% year/year to $306.7 mln vs the $275.5 mln consensus; company issues Q4 (Jun) guidance of $1.00-1.06 (consensus $1.03).
17:16 ET HAND Handspring pushes out profitability, raises FY02 guidance (3.72 +0.37) -- Update --
During their Q3 earnings conference call, co said their goal of reaching profitability in the June qtr has been pushed back until the Dec qtr; for the June qtr, co now expects $47-$57 mln in revs and a loss of $0.09-$0.13 (consensus $89.0 mln in revs and a loss of $0.02); co expects FY02 rev of $290-$330 mln and a loss of $0.25-$0.35 (consensus $284.5 mln and a loss of $0.47).
17:09 ET VNWK Visual Networks tops Q1 EPS, misses revs, guides Q2 revs down (2 unch)
Reports Q1 (Mar) earnings of $0.02 per share, $0.02 better than the Multex consensus of $0.00; revenues fell 2.3% year/year to $17.0 mln vs the $17.2 mln consensus; company warns that Q2 (Jun) revenues will be $14-15 mln, below consensus of $18 mln.
17:04 ET NVLS Novellus cites pickup in DRAM investment (50.40 +1.69) -- Update --
On call, says there was a definite pickup in DRAM investment levels in Q1 and expects the same in Q2... NVLS +2.67 at 53.07; MU +0.04 at 28.74
17:04 ET After Hours Indications
Futures have lifted after hours due to the strong NVLS report and upward guidance; S&P now trading 3 pts over fair value, while the Nasdaq 100 futures are 11 pts over fair value.
17:01 ET After Hours Movers
Novellus dominating the after hours action, taking up other semi equipment names with it (changes vs 4 pm close): NVLS +2.30, AMAT +1.50, KLAC +1.65. Other movers: RLRN +1.00, TXN +0.70, HAND -0.60.
17:00 ET NVLS Novellus to target inventory reduction (50.40 +12.69) -- Update --
On call, says inventories will be a major area of foucs; targeting $80 mln reduction in overall inventories over the next three quarters... notes inventories were up approx. $20 mln qtr/qtr due to forecasted growth in shipments and stocking of spare parts for newer technologies... separately, projects gross margins will increase sequentially to approx. 50% on an SAB 101 basis by Q4 and better than that on a shipment basis... NVLS +2.30 at 52.70
16:53 ET NVLS Novellus guides higher for Q2 (50.40 +1.69) -- Update --
On call, says it expects Q2 net bookings to be approx. $250 mln, shipments to be approx. $215 mln, SAB 101 revenues to be $220 mln and EPS of $0.06... Multex consensus revenue and EPS estimates are $164.94 mln and a loss of $0.02... NVLS +1.95 at 52.35
16:50 ET NVLS Novellus optimistic about Q2 (50.40 +1.69) -- Update --
On call, says that it is cautiously optimistic that Q2 will show significant improvement over Q1... notes that Q1 net bookings were $175 mln for Q1, which exceeded the guidance of $150 mln in mid-quarter update; orders were up in every region except U.S.... NVLS +1.48 at 51.88
16:47 ET DVSA Diversa beats by a penny (11.70 -0.47)
Reports Q1 (Mar) loss of $0.20 per share, $0.01 better than the Multex consensus of ($0.21); revenues fell 12.2% year/year to $7.2 mln vs the $7.1 mln consensus. Company reaffirms 2002 guidance of $0.62-0.68 loss vs consensus estimate of ($0.63). However, Q2 guidance of $7.4 mln and a loss of $0.23 is below consensus of $8.5 mln and ($0.18).
16:42 ET MHK Mohawk beats by 11 cents; guides Q2 higher (58.39 -1.56)
Reports Q1 (Mar) earnings of $0.77 per share, $0.11 better than the Multex consensus of $0.66; revenues rose 11.5% year/year to $866.7 mln. Company expects Q2 EPS to be up 20-25% from the year-ago figure, up from prior guidance of a 15-20% increase. This translates to $1.06-1.10 vs the $1.06 consensus.
16:39 ET FON Sprint FON tops Q1 estimate (13.47 -0.78)
Reports Q1 pro forma EPS of $0.33, $0.03 better than the Multex consensus; revs were $4.03 bln, vs consensus of $4.02 bln. Sprint FON reaffirms that they expect 2002 EPS "to approach" $1.40 (vs Multex consensus of $1.29) and expects revs to decline at a low single digit rate.
16:35 ET PCS Sprint PCS tops consensus estimates (10.02 +0.06)
Reports Q1 loss of $0.15 per share, $0.05 better than the Multex consensus of ($0.20), vs a yr-ago loss of $0.40. Net operating revs rose 41% to $2.85 bln (consensus $2.798 bln). PCS netted approx. 725K direct subscriber additions and 228K new affiliate subs. Customer churn was approx. 3%, which PCS says was better than expectations. Continues to believe it will achieve its previously forecast 3 mln net sub additions for the full-year. Sees PCS requiring funding of $1.1 bln in 2002.
16:34 ET TXN Texas Instruments beats by a penny; guides Q2 higher (32.13 +0.33) -- Update --
Reports Q1 (Mar) pro forma EPS of $0.01, a penny better than the Multex consensus of breakeven; revenues were $1.83 bln vs the $1.81 bln consensus. Company sees Q2 EPS of $0.06 and revenues of $2.0 bln, better than consensus estimates of $0.03 and $1.93 bln.
16:25 ET TIN Temple-Inland beats by a penny (56.75 +0.35)
Reports Q1 (Mar) earnings of $0.38 per share, $0.01 better than the Multex consensus of $0.37; revenues fell 2.4% year/year to $1.03 bln. The EPS figure excludes a $0.08 charge due to severance costs and write-offs of technology investments in its financial services group - the type of non-recurring charge that often recurs.
16:25 ET NVLS Novellus deferred revs fall; gross margin a little light (50.40 +1.69) -- Update --
Co's gross margin for the qtr was 42.2% vs co's mid-qtr forecast of "low 40s" margins (Salomon Smith Barney's gross margin est for Q1 was 43.5%). Q1 deferred revenues fell to $117.4 mln, compared to $140 mln in Q4 and $182.7 mln in Q3... NVLS shares trading at $50.73 in after-hours. Competitors: AMAT (-0.08), KLAC (+0.01).
16:10 ET NVLS Novellus tops consensus estimates (50.40 +1.69) -- Update --
Reports Q1 pro forma loss of $0.02, $0.07 better than the Multex consensus; revs were $169.7 mln, vs consensus of $154.0 mln. "Q1 results were achieved because the semiconductor industry has begun to show improvement in capital spending... In the first quarter of 2002, we achieved a bookings-to-shipments ratio greater than 1:1 for the first time since the quarter ended December 31, 2000."
16:09 ET HRB H & R Block reaffirms guidance (44.48 -0.42)
Announces that it remains on track to meet expectations earnings and revenue guidance. Separately, co's Board of Directors has elected Jeffery W. Yabuki as COO effective today.
16:07 ET UIS Unisys beats by two cents (11.47 -0.36)
Reports Q1 EPS of $0.10, two cents better than the Multex consensus of $0.08; revenues fell 16% year/year to $1.36 bln vs the $1.41 bln consensus. Company sees Q2 EPS of $0.12-0.15 and revenues of $1.35-1.45 bln, which may draw down current consensus estimates of $0.14 and $1.46 bln. Company still expects 50% EPS growth for year before special items.
16:06 ET RLRN Ren Learning beats earnings estimate, light on revenues (32.89 +1.89)
Reports Q1 EPS of $0.22, $0.04 better than the Multex consensus; revs were $34.7 mln, vs consensus of $36.2 mln. For 2002, the co expects to grow revenues 20% and to grow earnings 30%.
16:05 ET HAND Handspring misses quarter (3.72 +0.37)
Reports a Q3 loss of $0.14 a share, $0.02 worse than consensus, vs a yr-ago loss of $0.06. Revenues fell 52% to $59.7 mln (consensus $62.74 mln). |
