Alpharma ALO, +2.11% shares gained 9% after the Fort Lee, N.J., generic drug maker reported first-quarter earnings before items of $19.3 million, or 37 cents a share, well ahead of Wall Street's consensus estimate of 28 cents. Revenue jumped 21% year-over-year to $378.1 million in the three months ended March 31.
Biovail BVF, -1.52% shares rose 3.7% after the company received approval of Tramadol ODT, its oral disintegrating pain relief tablet, from the Food and Drug Administration.
Blue Coat Systems BCSI gained 15% after the company raised its fourth-quarter earnings forecast to 19 cents to 21 cents a share on revenue of $27.8 million to $28.3 million. Adjusted earnings are expected to be between 15 cents and 17 cents a share. In February, the company said it expected fourth-quarter earnings of between 7 cents and 9 cents a share on revenue of $26.2 million to $26.7 million. Blue Coat also forecast adjusted earnings of 9 cents to 11 cents a share for the quarter.
Shares of Click Commerce CKCM jumped 37% after the Chicago-based provider of e-commerce software reported earnings of $2.6 million, or 23 cents a share, for the first quarter, up from its year-ago profit of $851,000, or 10 cents a share. Thomson First Call doesn't publish a consensus estimate of the company's results. Revenue jumped 107% in the three months ended March 31 to $10.9 million from $2.6 million in the same period a year earlier. The company secured new contracts, renewals and/or upgrades from 113 companies during the quarter.
Cox Radio CXR, -1.01% shares rose 5.2% after the company reported first-quarter net income of $13.8 million, or 14 cents a share, up 24% from $11.1 million, or 11 cents a share, last year. Revenue rose 6% to $98.6 million, higher than expected, the company said. A survey of analysts by Thomson First Call forecasted earnings of 12 cents a share and revenue of $95.8 million. The broadcaster forecasted second-quarter revenue growth in the low single digits.
Curative Health CURE, -0.88% shares gained 19.7% after the Nashua, N.H., healthcare products company posted a loss of $3.4 million, or 26 cents a share, on revenue of $86.7 million for the first quarter ended March 31 and said it plans to open 6 to 8 full-service pharmacies in 2005.
Fluor Corp. FLR, -0.75% shares rallied 9.4% in afternoon action. The moves comes despite a first-quarter profit of $47.4 million, or 56 cents a share, from the Aliso Viejo, Calif., engineering services provider, a performance that was a penny below Wall Street's consensus view. Revenue, however, jumped 39% year-over-year to $2.9 million for the March period. See full story.
InfraSource Services IFS, -1.67% shares leapt 8.4% after the Media, Pa., utility transmission services contractor reported first-quarter net income more than doubled including a number of special items on 25% higher revenue. Profit reached $2.7 million, or 7 cents a share, from $1.1 million, or 4 cents, in the year-earlier period. Excluding the special items, Earnings were $1.6 million against $4.7 million. Revenue increased to $182.9 million from $146.9 million.
Jamdat Mobile JMDT shares rose 34% after the Los Angeles provider of wireless entertainment products reported first-quarter earnings of $2.7 million, or 13 cents a share, up from a profit $738,000, or 17 cents a share, a year ago. Adjusted earnings were $3.6 million, or 17 cents a share in the latest quarter. Revenue was $15.1 million, up from $7 million a year ago. The company forecast second-quarter net earnings of 12 cents a share and adjusted earnings of 18 cents a share on revenue of $19 million. Jamdat sees 2005 net earnings of 55 cents a share and adjusted earnings of 76 cents a share on revenue of $80 million.
The Leather Factory TLF, -2.91% shares gained 8.8% after the Fort Worth, Texas-based leather products retailer reported first-quarter earnings of $1 million, or 10 cents a share, up from its year-ago profit of $781,000, or 9 cents a share.
McAfee MFE, +0.23% shares added 12% after the company said its first-quarter net profit declined from its year-earlier profit that was boosted by a one-time gain. The security software maker said revenue rose 7.6% for the latest quarter, and also boosted its outlook for the year. McAfee said its quarterly profit declined to $35.97 million, or 21 cents a share, from $57.97 million, or 33 cents a share, a year earlier. Revenue rose to $235.7 million from $219.1 million. Excluding unusual items, the company would have seen its net profit more than double to $45.6 million, or 27 cents a share, from $20.9 million, or 11 cents a share, a year earlier. On that basis, Wall Street analysts had expected a profit of 19 cents a share on revenue of $216.8 million, according to a Thomson First Call survey.
MeadWestvaco Corp. MWV, +0.00% gained 3.9% after the company announced a tender offer for up to 16 million shares of common stock and $850 million in debt. The company said the price it would pay for the stock, which would represent up to 7.8% of the total outstanding, would range from $28.25 to $32.50 a share. The paper company said it would use the proceeds from the sale of its printing and writing papers business to fund the stock and debt repurchases.
Monster Worldwide MNST, -0.63% shares rose 7.6% and were among a number of companies supplying staffing services that were in rally mode after a stronger than expected jobs report.
National Oilwell Varco NOV, -0.14% shares added 3.2% after the company said first-quarter net income rose to $35.6 million, or 33 cents a share, from $11 million, or 14 cents a share, in the year-earlier quarter. Excluding charges of $10.9 million related to the company's merger with Varco International, National Oilwell would have earned $44.3 million, or 42 cents a share. The results were in line with the average forecast of analysts polled by Thomson First Call. Revenue for the period jumped to $814.9 million from $496.2 million a year ago. Looking ahead, the oil services company said it sees better results in the second half of the year.
Pixar Animation Studios' PIXR shares surged 8% after the animation studio said its first-quarter earnings more than tripled from the same period last year on proceeds from DVD sales of "The Incredibles." Pixar said it earned $81.9 million, or 67 cents a share, compared with a profit of $26.7 million, or 23 cents a share, in the year-ago period. Revenue jumped to $161.2 million from $53.8 million. Analysts polled by Thomson First Call were expecting a profit of 47 cents a share on $116.3 million in revenue. See full story.
Star Gas Partners L.P. SGU, -0.82% shares jumped 40.5% after the company reported a net loss of $24.1 million, or 67 cents a share, for the second quarter ended March 31, a reversal from the prior year's net profit of $80.7 million, or $2.27 a share. Excluding discontinued operations, the home energy distributor posted a loss of 74 cents a share for the latest quarter as opposed to earnings of $1.50 a share a year earlier. Quarterly sales reached $555.3 million from $481.8 million, reflecting higher prices for home heating oil that offset lower volumes. The two analysts surveyed by Thomson First Call who follow Star Gas had projected a profit of 48 cents a share on revenue of $496 million. The company continues to look for ways to make cost savings in its business and to take steps to lessen customer attrition, said CEO Joseph Cavanaugh.
Shares of Tier Technologies TIER, +1.49% gained 13% after the company posted strong fiscal second quarter results and gave an upbeat third quarter outlook. The software services company reported quarterly net income from continuing operations of 6 cents a share on a 19% jump in revenue to $35.3 million, driven by strength in its electronic payment processing and packaged software and systems integration divisions. The Thomson First Call average estimate was for a profit of only 2 cents a share on revenue of $33.3 million. Looking ahead, the Reston Va. company said it expects earnings in the range of 17 to 18 cents a share on revenue between $47 million and $48 million. The forecast exceeds the current average estimate of analysts polled by Thomson First Call of earnings of 16 cents a share on revenue of $46.4 million. In a separate statement, the company announced the appointment of David Fountain as chief financial officer.
Triumph Group TGI, +0.66% shares rallied 12.9% after the company reported fourth-quarter net income of $5 million, or 31 cents a share, up more than fourfold from $1.1 million, or 8 cents a share, a year before, citing strength in its aviation markets. The Thomson First Call average analysts' estimate was for earnings of 23 cents a share. Sales rose to $181.9 million from $175.8 million. The Wayne, Pa. aviation components manufacturer also forecast 2006 earnings per share of $1.75 to $2 with sales in the $700 million to $750 million range. First Call projects 2006 earnings per share of $1.86. Trizec Properties TRZ, -1.27% was downgraded by Merrill Lynch to neutral from buy, citing valuation.
Weight Watchers International WTW, -3.40% shares rose 9% after the company said its first-quarter profit advanced to $51.6 million, or 49 cents a share, from $36.8 million, or 34 cents, in the year-ago period. Analysts surveyed by Thomson First Call were looking for earnings, on average, of 48 cents a share. Excluding results from WeightWatchers.com, earnings would have been 53 cents a share versus 45 cents in the first quarter of 2004. Revenue increased to $330 million from $281.4 million last year. For fiscal 2005, the Woodbury, N.Y., weight loss company said earnings are now forecast at $1.88 to $1.98 a share, which includes a three cent benefit not factored into its prior outlook.
Allied Defense Group ADG, -14.29% shares fell 1.5% after the company projected its 2005 earnings at $1.48 a share, implying growth of 12% over the contractor's pro forma profit for 2004. In a letter to shareholders, Results for the first half of 2005 are expected to be "very weak," with a loss likely for the first quarter, but this is in line with the historical pattern of its financial results, the company said.
Shares of @Road ARDI fell 20% after the mobile resource management services company posted first quarter results and a second quarter outlook that disappointed analysts. The Fremont, Calif. company reported a quarterly loss of $7.4 million, or 13 cents a share compared with a profit of $3.1 million, or 5 cents a share in the year-earlier period. Earnings included results from its Vidus Limited acquisition, as well as charges associated with that purchase. Revenue rose to $20 million from $17.9 million. The Thomson First Call average estimate was for a loss of a penny a share on revenue of $20.6 million. The results prompted broker downgrades from Raymond James, Needham and Wedbush Morgan.
Bank of New York BK, -0.11% slid 1.7% after the company was downgraded by Merrill Lynch to neutral from buy. The firm cited weakening trade volumes at the company.
Coinstar CSTR, -0.17% shares slumped 6.3% after the company reported first-quarter net income of $4.67 million, or 18 cents a share, down from a year-ago profit of $4.61 million, or 21 cents a share, a year ago. Revenue rose to $105.6 million from $43.1 million a year ago. Coinstar forecast second-quarter net earnings of 17 cents to 23 cents a share and adjusted earnings of 20 cents to 26 cents a share on revenue of $109 million to $115 million. The Bellevue, Wash.-based company also said that President Rich Stillman will be leaving to become the CEO of a graphic imaging company in Seattle.
Shares in Clorox Co. CLX, -0.21% slid 2% after an analyst downgrade based on higher raw material costs, among other factors. The company's stock was off 93 cents at $57.60 recently. Prudential Equity analyst Constance Maneaty cut the Oakland, Calif., household products' maker shares to underweight from neutral after Clorox said Thursday that first-quarter earnings declined to Wall Street's target and it set a fiscal 2006 outlook below analysts' expectation.
Shares of Dolby Laboratories DLB, -0.65% dropped 14.3% after the San Francisco maker of audio systems reported second-quarter earnings of $10.3 million, or 10 cents a share, down from a year-ago profit of $12.4 million, or 14 cents a share. On a pro forma basis, excluding royalties payable to Dolby's founder for the use of intellectual property rights, the company earned $14.9 million, or 14 cents a share, in the period. Revenue rose in the latest three months to $85.1 million from $78.7 million in the same period a year earlier. The average estimate of analysts polled by Thomson First Call, however, was for a profit of 17 cents a share in the March period on revenue of $88.8 million. Looking ahead, Dolby forecast pro forma earnings of 55 to 62 cents a share on revenue of $335 million to $350 million for the fiscal 2005. Wall Street's current consensus estimate is for a profit of 64 cents a share on revenue of $346.6 million.
FLYi FLYI shares lost almost 17% after the company was downgraded to underperform from market perform at Raymond James, which cited disappointing first-quarter results and concerns that the air carrier may have to file for bankruptcy before the end of the year. The company Thursday reported a preliminary first-quarter loss, excluding items, of $1.88 a share, much wider than the average analyst loss estimate compiled by Thomson First Call of $1.33 a share. Analyst Samantha Panella said the increased loss outlook suggests the company's cash position could be negative by the end of 2005, which could force a bankruptcy filing during the third quarter. Panella also feels the stock may be delisted by the Nasdaq, given that it is trading below $1.
Greenbrier Cos. GBX, +0.25% dipped 2.8% after the railcar manufacturer priced stock and debt offerings, both of which are expected to close May 11. The company's selling $175 million 8.375% senior unsecured notes due 2015 via a private placement as well as offering 4.5 million common shares priced at $26.50 each. Together, the offerings are expected to bring in gross proceeds of $294.3 million, excluding any money from over-allotment options that may be granted to underwriters of the stock offering.
Harvard Bioscience HBIO, +1.00% shares slumped 11.3% after the Holliston, Mass., maker of scientific research-related products posted adjusted earnings of $806 million, or 3 cents a share, for the first quarter, 2 cents short of Wall Street's consensus estimate.
H&R Block HRB, +0.47% shares lost 2.9% after the tax preparation services provider said it expects full-year net income near the low end of its $3.50-$4 a share target. A survey of analysts by Thomson First Call is forecasting earnings of $3.51 a share for the tax preparation and financial services firm. Reporting its preliminary tax season results, H&R Block said total tax fees were $2.4 billion, while total clients served in its U.S. retail offices were essentially flat to the prior year. Average per-client fees rose 7.4% to $150.
Mediacom Communications Corp. MCCC fell 2.9% after the company posted a first-quarter loss that narrowed to $841,000, or a penny a share, from $5.7 million, or 5 cents a share, in the year-earlier quarter. The results beat the average forecast for a loss of 4 cents a share of analysts polled by Thomson First Call. Revenue for the period climbed 1.1% to $266.2 million from a year ago.
Mod-Pac Corp. MPAC, -0.50% dropped 9.2% after the company said Chief Financial Officer C. Anthony Rider resigned to pursue personal interests. The Buffalo, N.Y., print services firm said it has begun a search for a new CFO.
Pomeroy IT Solutions PMRY shares fell 9.3% after the company lowered its 2005 forecast on weaker-than-expected first-quarter revenue trends. The Hebron, Ky.-based company cut its revenue forecast to $165 million from a previous outlook of $200 million to $205 million. It took its per-share profit forecast to a range of 23 cents to 24 cents from a prior expectation of 30 cents.
Progressive Gaming International PGIC lost 5.4% after the company was downgraded to hold from buy at Jefferies & Co. due primarily to valuation. The stock closed Thursday unchanged at $14, and had reached an 11-year high of $14.82 in intraday trading on Wednesday. Analyst Lawrence Klatzkin said that while he believes that company has a strong future ahead of itself, he can't find a reason to raise his estimates or $15 stock price target.
Revlon REV, -4.74% shares sank 11.8% after the cosmetics company said its first-quarter loss narrowed to $46.8 million, or 13 cents a share, from $58.2 million, or 63 cents a share, in the year-ago period. Sales for the three months ended March 31 dipped to $300.9 million from $308.4 million in last year's first quarter. Analysts polled by Thomson First Call were looking for a net loss, on average, of 7 cents a share. A reduction in interest expense helped the New York cosmetics company to narrow its loss, while an increase in shares outstanding accounted for the outsized reduced in loss per share. See full story.
S1 Corp. SONE, -3.02% shares tumbled 19.5% after the company reported first-quarter earnings of $444,000, or 1 cent a share, vs. $720,000, or 1 cent a share, in the same period a year ago. Revenue rose 11% to $62.4 million from last year's $56.1 million, with license revenue increasing 14% to $13.2 million. Analysts surveyed by Thomson First Call had been expecting earnings of 3 cents a share and revenue of $65.3 million, on average. For the second-quarter, the business management company expects earnings of 1 to 2 cents a share, below analyst forecasts of 6 cents a share. Revenue is projected to be $63 million to $64.5 million, missing analyst forecasts of $68.9 million.
Saxon Capital SAX, -0.28% shares slid 5% after the company posted first-quarter earnings of $31.7 million, or 63 cents a share, a slight improvement on a year-ago basis, although net interest margins fell due to the continued rise in the one-month LIBOR.
SeaChange International SEAC, -7.65% shares fell 11.2% after the company lowered its first-quarter forecast citing unanticipated delays in booking shipments and the acceptance of certain orders. The company said it now expects its results to range from breakeven to a loss of 3 cents a share on revenue of $30 million to $32 million. The company previously announced a first-quarter forecast of earnings of 3 cents a share on revenue of $40 million.
StarTek SRT, +2.01% shares lost 14% after the company said that first-quarter earnings per share dropped to 18 cents, from 46 cents a year ago, while revenue declined 14.2% to $54.3 million, primarily due to a decline in supply chain management services and the use of a tiered incentive pricing model. The outsourcing services company declared a reduced quarterly dividend of 36 cents a share in order to pursue growth opportunities. Net income dropped to $2.6 million, from $6.9 million a year ago.
UTStarCom UTSI, +0.26% shares plummeted 31.2% after the company said first-quarter profit fell despite sharply higher sales, and the company announced plans to cut 17% of its workforce to offset a sharp drop in revenue from a unique wireless service it offers in China. In the latest quarter, UTStarcom said net income fell to $38 million, or 29 cents a share, from $54.8 million, or 40 cents, a year ago. Revenue jumped 45% to $901.9 million from the year-ago period, mostly because of the acquisition of the wireless-phone maker Audiovox. Looking ahead, UTStarcom forecast $740 million in sales in the second quarter, compared to Wall Street's projection of $844 million. See full story.
Washington Post Co. WPO shares slid 1.9% after the publisher reported first-quarter earnings of $66.6 million, or $6.87 a share, up from $59.4 million, or $6.15 a share in the same period a year ago. Excluding a gain from the sale of assets, earnings would have been $6.31 a share. Revenue rose 10% to $833.9 million from last year's $759 million, amid a 6% increase in newspaper publishing revenue to $218.8 million. Analysts surveyed by Thomson First Call had been expecting earnings of $7.24 a share and revenue of $830 million, on average.
Watson Pharmaceuticals' WPI, +1.49% shares fell 2.2% after the company reported a 17% drop in first-quarter earnings, attributing the decline in part to the loss of royalty income for its drug ciprofloxacin. For the quarter ended March 31, Watson posted a net income of $38.9 million, or 33 cents a share, compared with $46.7 million, or 39 cents as share, last year. Revenue for the quarter slipped 2% to $400.8 million, from $409.7 million. See full story.
Wild Oats Markets OATS shares tumbled 2.7% after the supermarket operator swung to a first-quarter loss of $1.15 million, or 4 cents a share, on a restatement related to lease accounting and continued pressure on margins due to the impact of new stores on profitability.
W.P. Carey WPC, -0.02% shares tumbled 6.5% after the company was downgraded to hold by AG Edwards, which cited a belief that business fundamentals at the company are deteriorating.
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Given a text passage, determine:
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- NO_QUESTION
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- SINGLE_QUESTION_WITH_ANSWER
- MULTIPLE_QUESTIONS
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Alpharma ALO, +2.11% shares gained 9% after the Fort Lee, N.J., generic drug maker reported first-quarter earnings before items of $19.3 million, or 37 cents a share, well ahead of Wall Street's consensus estimate of 28 cents. Revenue jumped 21% year-over-year to $378.1 million in the three months ended March 31.
Biovail BVF, -1.52% shares rose 3.7% after the company received approval of Tramadol ODT, its oral disintegrating pain relief tablet, from the Food and Drug Administration.
Blue Coat Systems BCSI gained 15% after the company raised its fourth-quarter earnings forecast to 19 cents to 21 cents a share on revenue of $27.8 million to $28.3 million. Adjusted earnings are expected to be between 15 cents and 17 cents a share. In February, the company said it expected fourth-quarter earnings of between 7 cents and 9 cents a share on revenue of $26.2 million to $26.7 million. Blue Coat also forecast adjusted earnings of 9 cents to 11 cents a share for the quarter.
Shares of Click Commerce CKCM jumped 37% after the Chicago-based provider of e-commerce software reported earnings of $2.6 million, or 23 cents a share, for the first quarter, up from its year-ago profit of $851,000, or 10 cents a share. Thomson First Call doesn't publish a consensus estimate of the company's results. Revenue jumped 107% in the three months ended March 31 to $10.9 million from $2.6 million in the same period a year earlier. The company secured new contracts, renewals and/or upgrades from 113 companies during the quarter.
Cox Radio CXR, -1.01% shares rose 5.2% after the company reported first-quarter net income of $13.8 million, or 14 cents a share, up 24% from $11.1 million, or 11 cents a share, last year. Revenue rose 6% to $98.6 million, higher than expected, the company said. A survey of analysts by Thomson First Call forecasted earnings of 12 cents a share and revenue of $95.8 million. The broadcaster forecasted second-quarter revenue growth in the low single digits.
Curative Health CURE, -0.88% shares gained 19.7% after the Nashua, N.H., healthcare products company posted a loss of $3.4 million, or 26 cents a share, on revenue of $86.7 million for the first quarter ended March 31 and said it plans to open 6 to 8 full-service pharmacies in 2005.
Fluor Corp. FLR, -0.75% shares rallied 9.4% in afternoon action. The moves comes despite a first-quarter profit of $47.4 million, or 56 cents a share, from the Aliso Viejo, Calif., engineering services provider, a performance that was a penny below Wall Street's consensus view. Revenue, however, jumped 39% year-over-year to $2.9 million for the March period. See full story.
InfraSource Services IFS, -1.67% shares leapt 8.4% after the Media, Pa., utility transmission services contractor reported first-quarter net income more than doubled including a number of special items on 25% higher revenue. Profit reached $2.7 million, or 7 cents a share, from $1.1 million, or 4 cents, in the year-earlier period. Excluding the special items, Earnings were $1.6 million against $4.7 million. Revenue increased to $182.9 million from $146.9 million.
Jamdat Mobile JMDT shares rose 34% after the Los Angeles provider of wireless entertainment products reported first-quarter earnings of $2.7 million, or 13 cents a share, up from a profit $738,000, or 17 cents a share, a year ago. Adjusted earnings were $3.6 million, or 17 cents a share in the latest quarter. Revenue was $15.1 million, up from $7 million a year ago. The company forecast second-quarter net earnings of 12 cents a share and adjusted earnings of 18 cents a share on revenue of $19 million. Jamdat sees 2005 net earnings of 55 cents a share and adjusted earnings of 76 cents a share on revenue of $80 million.
The Leather Factory TLF, -2.91% shares gained 8.8% after the Fort Worth, Texas-based leather products retailer reported first-quarter earnings of $1 million, or 10 cents a share, up from its year-ago profit of $781,000, or 9 cents a share.
McAfee MFE, +0.23% shares added 12% after the company said its first-quarter net profit declined from its year-earlier profit that was boosted by a one-time gain. The security software maker said revenue rose 7.6% for the latest quarter, and also boosted its outlook for the year. McAfee said its quarterly profit declined to $35.97 million, or 21 cents a share, from $57.97 million, or 33 cents a share, a year earlier. Revenue rose to $235.7 million from $219.1 million. Excluding unusual items, the company would have seen its net profit more than double to $45.6 million, or 27 cents a share, from $20.9 million, or 11 cents a share, a year earlier. On that basis, Wall Street analysts had expected a profit of 19 cents a share on revenue of $216.8 million, according to a Thomson First Call survey.
MeadWestvaco Corp. MWV, +0.00% gained 3.9% after the company announced a tender offer for up to 16 million shares of common stock and $850 million in debt. The company said the price it would pay for the stock, which would represent up to 7.8% of the total outstanding, would range from $28.25 to $32.50 a share. The paper company said it would use the proceeds from the sale of its printing and writing papers business to fund the stock and debt repurchases.
Monster Worldwide MNST, -0.63% shares rose 7.6% and were among a number of companies supplying staffing services that were in rally mode after a stronger than expected jobs report.
National Oilwell Varco NOV, -0.14% shares added 3.2% after the company said first-quarter net income rose to $35.6 million, or 33 cents a share, from $11 million, or 14 cents a share, in the year-earlier quarter. Excluding charges of $10.9 million related to the company's merger with Varco International, National Oilwell would have earned $44.3 million, or 42 cents a share. The results were in line with the average forecast of analysts polled by Thomson First Call. Revenue for the period jumped to $814.9 million from $496.2 million a year ago. Looking ahead, the oil services company said it sees better results in the second half of the year.
Pixar Animation Studios' PIXR shares surged 8% after the animation studio said its first-quarter earnings more than tripled from the same period last year on proceeds from DVD sales of "The Incredibles." Pixar said it earned $81.9 million, or 67 cents a share, compared with a profit of $26.7 million, or 23 cents a share, in the year-ago period. Revenue jumped to $161.2 million from $53.8 million. Analysts polled by Thomson First Call were expecting a profit of 47 cents a share on $116.3 million in revenue. See full story.
Star Gas Partners L.P. SGU, -0.82% shares jumped 40.5% after the company reported a net loss of $24.1 million, or 67 cents a share, for the second quarter ended March 31, a reversal from the prior year's net profit of $80.7 million, or $2.27 a share. Excluding discontinued operations, the home energy distributor posted a loss of 74 cents a share for the latest quarter as opposed to earnings of $1.50 a share a year earlier. Quarterly sales reached $555.3 million from $481.8 million, reflecting higher prices for home heating oil that offset lower volumes. The two analysts surveyed by Thomson First Call who follow Star Gas had projected a profit of 48 cents a share on revenue of $496 million. The company continues to look for ways to make cost savings in its business and to take steps to lessen customer attrition, said CEO Joseph Cavanaugh.
Shares of Tier Technologies TIER, +1.49% gained 13% after the company posted strong fiscal second quarter results and gave an upbeat third quarter outlook. The software services company reported quarterly net income from continuing operations of 6 cents a share on a 19% jump in revenue to $35.3 million, driven by strength in its electronic payment processing and packaged software and systems integration divisions. The Thomson First Call average estimate was for a profit of only 2 cents a share on revenue of $33.3 million. Looking ahead, the Reston Va. company said it expects earnings in the range of 17 to 18 cents a share on revenue between $47 million and $48 million. The forecast exceeds the current average estimate of analysts polled by Thomson First Call of earnings of 16 cents a share on revenue of $46.4 million. In a separate statement, the company announced the appointment of David Fountain as chief financial officer.
Triumph Group TGI, +0.66% shares rallied 12.9% after the company reported fourth-quarter net income of $5 million, or 31 cents a share, up more than fourfold from $1.1 million, or 8 cents a share, a year before, citing strength in its aviation markets. The Thomson First Call average analysts' estimate was for earnings of 23 cents a share. Sales rose to $181.9 million from $175.8 million. The Wayne, Pa. aviation components manufacturer also forecast 2006 earnings per share of $1.75 to $2 with sales in the $700 million to $750 million range. First Call projects 2006 earnings per share of $1.86. Trizec Properties TRZ, -1.27% was downgraded by Merrill Lynch to neutral from buy, citing valuation.
Weight Watchers International WTW, -3.40% shares rose 9% after the company said its first-quarter profit advanced to $51.6 million, or 49 cents a share, from $36.8 million, or 34 cents, in the year-ago period. Analysts surveyed by Thomson First Call were looking for earnings, on average, of 48 cents a share. Excluding results from WeightWatchers.com, earnings would have been 53 cents a share versus 45 cents in the first quarter of 2004. Revenue increased to $330 million from $281.4 million last year. For fiscal 2005, the Woodbury, N.Y., weight loss company said earnings are now forecast at $1.88 to $1.98 a share, which includes a three cent benefit not factored into its prior outlook.
Allied Defense Group ADG, -14.29% shares fell 1.5% after the company projected its 2005 earnings at $1.48 a share, implying growth of 12% over the contractor's pro forma profit for 2004. In a letter to shareholders, Results for the first half of 2005 are expected to be "very weak," with a loss likely for the first quarter, but this is in line with the historical pattern of its financial results, the company said.
Shares of @Road ARDI fell 20% after the mobile resource management services company posted first quarter results and a second quarter outlook that disappointed analysts. The Fremont, Calif. company reported a quarterly loss of $7.4 million, or 13 cents a share compared with a profit of $3.1 million, or 5 cents a share in the year-earlier period. Earnings included results from its Vidus Limited acquisition, as well as charges associated with that purchase. Revenue rose to $20 million from $17.9 million. The Thomson First Call average estimate was for a loss of a penny a share on revenue of $20.6 million. The results prompted broker downgrades from Raymond James, Needham and Wedbush Morgan.
Bank of New York BK, -0.11% slid 1.7% after the company was downgraded by Merrill Lynch to neutral from buy. The firm cited weakening trade volumes at the company.
Coinstar CSTR, -0.17% shares slumped 6.3% after the company reported first-quarter net income of $4.67 million, or 18 cents a share, down from a year-ago profit of $4.61 million, or 21 cents a share, a year ago. Revenue rose to $105.6 million from $43.1 million a year ago. Coinstar forecast second-quarter net earnings of 17 cents to 23 cents a share and adjusted earnings of 20 cents to 26 cents a share on revenue of $109 million to $115 million. The Bellevue, Wash.-based company also said that President Rich Stillman will be leaving to become the CEO of a graphic imaging company in Seattle.
Shares in Clorox Co. CLX, -0.21% slid 2% after an analyst downgrade based on higher raw material costs, among other factors. The company's stock was off 93 cents at $57.60 recently. Prudential Equity analyst Constance Maneaty cut the Oakland, Calif., household products' maker shares to underweight from neutral after Clorox said Thursday that first-quarter earnings declined to Wall Street's target and it set a fiscal 2006 outlook below analysts' expectation.
Shares of Dolby Laboratories DLB, -0.65% dropped 14.3% after the San Francisco maker of audio systems reported second-quarter earnings of $10.3 million, or 10 cents a share, down from a year-ago profit of $12.4 million, or 14 cents a share. On a pro forma basis, excluding royalties payable to Dolby's founder for the use of intellectual property rights, the company earned $14.9 million, or 14 cents a share, in the period. Revenue rose in the latest three months to $85.1 million from $78.7 million in the same period a year earlier. The average estimate of analysts polled by Thomson First Call, however, was for a profit of 17 cents a share in the March period on revenue of $88.8 million. Looking ahead, Dolby forecast pro forma earnings of 55 to 62 cents a share on revenue of $335 million to $350 million for the fiscal 2005. Wall Street's current consensus estimate is for a profit of 64 cents a share on revenue of $346.6 million.
FLYi FLYI shares lost almost 17% after the company was downgraded to underperform from market perform at Raymond James, which cited disappointing first-quarter results and concerns that the air carrier may have to file for bankruptcy before the end of the year. The company Thursday reported a preliminary first-quarter loss, excluding items, of $1.88 a share, much wider than the average analyst loss estimate compiled by Thomson First Call of $1.33 a share. Analyst Samantha Panella said the increased loss outlook suggests the company's cash position could be negative by the end of 2005, which could force a bankruptcy filing during the third quarter. Panella also feels the stock may be delisted by the Nasdaq, given that it is trading below $1.
Greenbrier Cos. GBX, +0.25% dipped 2.8% after the railcar manufacturer priced stock and debt offerings, both of which are expected to close May 11. The company's selling $175 million 8.375% senior unsecured notes due 2015 via a private placement as well as offering 4.5 million common shares priced at $26.50 each. Together, the offerings are expected to bring in gross proceeds of $294.3 million, excluding any money from over-allotment options that may be granted to underwriters of the stock offering.
Harvard Bioscience HBIO, +1.00% shares slumped 11.3% after the Holliston, Mass., maker of scientific research-related products posted adjusted earnings of $806 million, or 3 cents a share, for the first quarter, 2 cents short of Wall Street's consensus estimate.
H&R Block HRB, +0.47% shares lost 2.9% after the tax preparation services provider said it expects full-year net income near the low end of its $3.50-$4 a share target. A survey of analysts by Thomson First Call is forecasting earnings of $3.51 a share for the tax preparation and financial services firm. Reporting its preliminary tax season results, H&R Block said total tax fees were $2.4 billion, while total clients served in its U.S. retail offices were essentially flat to the prior year. Average per-client fees rose 7.4% to $150.
Mediacom Communications Corp. MCCC fell 2.9% after the company posted a first-quarter loss that narrowed to $841,000, or a penny a share, from $5.7 million, or 5 cents a share, in the year-earlier quarter. The results beat the average forecast for a loss of 4 cents a share of analysts polled by Thomson First Call. Revenue for the period climbed 1.1% to $266.2 million from a year ago.
Mod-Pac Corp. MPAC, -0.50% dropped 9.2% after the company said Chief Financial Officer C. Anthony Rider resigned to pursue personal interests. The Buffalo, N.Y., print services firm said it has begun a search for a new CFO.
Pomeroy IT Solutions PMRY shares fell 9.3% after the company lowered its 2005 forecast on weaker-than-expected first-quarter revenue trends. The Hebron, Ky.-based company cut its revenue forecast to $165 million from a previous outlook of $200 million to $205 million. It took its per-share profit forecast to a range of 23 cents to 24 cents from a prior expectation of 30 cents.
Progressive Gaming International PGIC lost 5.4% after the company was downgraded to hold from buy at Jefferies & Co. due primarily to valuation. The stock closed Thursday unchanged at $14, and had reached an 11-year high of $14.82 in intraday trading on Wednesday. Analyst Lawrence Klatzkin said that while he believes that company has a strong future ahead of itself, he can't find a reason to raise his estimates or $15 stock price target.
Revlon REV, -4.74% shares sank 11.8% after the cosmetics company said its first-quarter loss narrowed to $46.8 million, or 13 cents a share, from $58.2 million, or 63 cents a share, in the year-ago period. Sales for the three months ended March 31 dipped to $300.9 million from $308.4 million in last year's first quarter. Analysts polled by Thomson First Call were looking for a net loss, on average, of 7 cents a share. A reduction in interest expense helped the New York cosmetics company to narrow its loss, while an increase in shares outstanding accounted for the outsized reduced in loss per share. See full story.
S1 Corp. SONE, -3.02% shares tumbled 19.5% after the company reported first-quarter earnings of $444,000, or 1 cent a share, vs. $720,000, or 1 cent a share, in the same period a year ago. Revenue rose 11% to $62.4 million from last year's $56.1 million, with license revenue increasing 14% to $13.2 million. Analysts surveyed by Thomson First Call had been expecting earnings of 3 cents a share and revenue of $65.3 million, on average. For the second-quarter, the business management company expects earnings of 1 to 2 cents a share, below analyst forecasts of 6 cents a share. Revenue is projected to be $63 million to $64.5 million, missing analyst forecasts of $68.9 million.
Saxon Capital SAX, -0.28% shares slid 5% after the company posted first-quarter earnings of $31.7 million, or 63 cents a share, a slight improvement on a year-ago basis, although net interest margins fell due to the continued rise in the one-month LIBOR.
SeaChange International SEAC, -7.65% shares fell 11.2% after the company lowered its first-quarter forecast citing unanticipated delays in booking shipments and the acceptance of certain orders. The company said it now expects its results to range from breakeven to a loss of 3 cents a share on revenue of $30 million to $32 million. The company previously announced a first-quarter forecast of earnings of 3 cents a share on revenue of $40 million.
StarTek SRT, +2.01% shares lost 14% after the company said that first-quarter earnings per share dropped to 18 cents, from 46 cents a year ago, while revenue declined 14.2% to $54.3 million, primarily due to a decline in supply chain management services and the use of a tiered incentive pricing model. The outsourcing services company declared a reduced quarterly dividend of 36 cents a share in order to pursue growth opportunities. Net income dropped to $2.6 million, from $6.9 million a year ago.
UTStarCom UTSI, +0.26% shares plummeted 31.2% after the company said first-quarter profit fell despite sharply higher sales, and the company announced plans to cut 17% of its workforce to offset a sharp drop in revenue from a unique wireless service it offers in China. In the latest quarter, UTStarcom said net income fell to $38 million, or 29 cents a share, from $54.8 million, or 40 cents, a year ago. Revenue jumped 45% to $901.9 million from the year-ago period, mostly because of the acquisition of the wireless-phone maker Audiovox. Looking ahead, UTStarcom forecast $740 million in sales in the second quarter, compared to Wall Street's projection of $844 million. See full story.
Washington Post Co. WPO shares slid 1.9% after the publisher reported first-quarter earnings of $66.6 million, or $6.87 a share, up from $59.4 million, or $6.15 a share in the same period a year ago. Excluding a gain from the sale of assets, earnings would have been $6.31 a share. Revenue rose 10% to $833.9 million from last year's $759 million, amid a 6% increase in newspaper publishing revenue to $218.8 million. Analysts surveyed by Thomson First Call had been expecting earnings of $7.24 a share and revenue of $830 million, on average.
Watson Pharmaceuticals' WPI, +1.49% shares fell 2.2% after the company reported a 17% drop in first-quarter earnings, attributing the decline in part to the loss of royalty income for its drug ciprofloxacin. For the quarter ended March 31, Watson posted a net income of $38.9 million, or 33 cents a share, compared with $46.7 million, or 39 cents as share, last year. Revenue for the quarter slipped 2% to $400.8 million, from $409.7 million. See full story.
Wild Oats Markets OATS shares tumbled 2.7% after the supermarket operator swung to a first-quarter loss of $1.15 million, or 4 cents a share, on a restatement related to lease accounting and continued pressure on margins due to the impact of new stores on profitability.
W.P. Carey WPC, -0.02% shares tumbled 6.5% after the company was downgraded to hold by AG Edwards, which cited a belief that business fundamentals at the company are deteriorating.
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