5:37PM Pall Corp beats by $0.04; gives guidance (PLL) 39.82 +0.42 : Reports Q1 (Mar) earnings of $0.54 per share, excluding non-recurring charges, $0.04 better than the First Call consensus of $0.50; revenues rose 18.3% year/year to $661.7 mln vs the $633.5 mln consensus. Co says "Looking at this full fiscal year, we expect sales growth in the mid-single digit range with Pall Industrial slightly outpacing Pall Life Sciences. Gross margins are expected to be level to slightly improved and SG&A expense to decrease to just over 29% of sales. Pro forma earnings per share are expected to be at or above the high end of our guidance range."
5:08PM Quanex misses by $0.08, misses on revs (NX) 16.48 -0.27 : Reports Q2 (Apr) earnings of $0.17 per share, excluding non-recurring items, $0.08 worse than the First Call consensus of $0.25; revenues fell 13.1% year/year to $207.3 mln vs the $211.9 mln consensus. "The Company does not expect any near term improvement in the housing market, with industry prognosticators continuing to push out the timing of the expected trough, now estimated to occur in the fourth calendar quarter of 2008. Housing starts in fiscal 2008 are now expected to lag fiscal 2007 starts by 35% as the market struggles with the high inventory overhang and tougher credit requirements sought by mortgage lenders... The current roll-up of income expectations by business still indicates the Company will generate around $80 million of operating income before taking into account approximately $20 million of corporate expenses in a normalized run rate. But given the economy's fragile state, the uncertainty attending this forecast is high and the risks remain to the downside. However, the Company does expect to continue to outperform the market and generate significant cash flow, and is well positioned to experience significant operating leverage when the market improves."
4:31PM Texas Instruments narrows Q2 guidance to $0.43-0.47 vs $0.46 consensus; revs $3.33-3.46 bln vs $3.37 bln consensus (TXN) 31.33 +0.09 : Co narrows Q2 guidance; sees EPS of $0.43-0.47 vs $0.46 First Call consensus, compared to prior guidance of $0.42-0.48. Co narrows Q2 rev guidance to $3.33-3.46 bln vs $3.37 bln First Call consensus, vs prior guidance of $3.24-3.50 bln. Co sees semiconductor revenue between $3.17-3.28 bln, compared with the prior range of $3.08-3.32 bln; and education technology revenue between $160-180 mln, unchanged from the prior range.
4:15PM Shuffle Master beats by $0.02, beats on revs (SHFL) 6.24 -0.06 : Reports Q2 (Apr) earnings of $0.09 per share, $0.02 better than the First Call consensus of $0.07; revenues rose 9.9% year/year to $49 mln vs the $45.6 mln consensus. Utility lease revs of $6.9 mln set a co record with the installed bas leased shufflers reaching a record high of approximately 5,400 units. Their electronic table systems reported substantial lease and service revs growth of over 100% was offset by declining sales volume which fell 2% from the prior year period.
8:20AM Rimage lowers Q2 guidance (RIMG) 17.33 : Co issues downside guidance for Q2 (Jun), sees EPS of $0.09-0.12, from previous guidance of $0.22-0.27, vs. $0.23 First Call consensus; sees Q2 (Jun) revs of $20-22 mln, compared to previous guidance of $24-26 mln, vs. $24.90 mln consensus; co lowers guidance due to the impact of the sluggish economy. Co reports sales of disc publishing hardware are currently running below previously forecasted levels as its distribution partners have adopted a more cautious approach toward their purchasing decisions in light of the uncertain economic environment. This has translated into longer selling cycles over the past few months. Co's sales mix has shifted toward lower-margin consumable supplies, which has magnified the impact of below-plan sales on co's Q2 profitability.
8:04AM Iconix Brand lowers FY08 guidance (ICON) 12.82 : As mentioned at 8:01 co issues downside guidance for FY08 (Dec), sees EPS of 1.15-1.20 down from $1.35-1.40 previously vs. $1.31 First Call consensus; sees FY08 (Dec) revs of $215-220 mln down from $250-260 mln previously vs. $245.44 mln consensus. The co says the new guidance relates to the existing portfolio of brands only and includes no revenue assumption from acquisitions. However, the co is continuing to evaluate a number of different acquisition opportunities. The co says it is forecasting free cash flow for 2008 to be in a range of approx $116 - $119 million and free cash flow per diluted share to be in a range of approximately $1.87 - $1.92
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