SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Friday's session are Micron Technology Inc., VeriSign Inc. and Lawson Software Inc.
After Thursday's closing bell, Micron Technology Inc. (MU) reported a fourth-quarter profit that fell 54% from a year ago, but managed to top Wall Street estimates as sales of its non-memory chips rose.
Arrow International Inc. (ARRO) reported fiscal fourth-quarter net earnings of $5 million, or 11 cents a share, compared with $14.4 million, or 32 cents a share, a year ago. Revenue rose to $114.3 million from $113 million last year. Analysts surveyed by Thomson First Call expected the catheter maker to report earnings of 30 cents a share on revenue of $113 million.
Callaway Golf Co. (ELY) said late Thursday it will consolidate some of its sales and golf ball operations and reduce its workforce in an effort to save $70 million annually.
Cardiome Pharma Corp. (CRME) and Astellas Pharma U.S. Inc. (ALPMF) said their 276-patient atrial arrhythmia Phase III clinical study has achieved its primary endpoint. Of those in the trial receiving an IV dose of RSD1235, 52% converted to normal heart rhythm. The study data also suggests that RSD1235 was generally well-tolerated in the targeted patient population, the companies said.
CTI Industries Corp. (CTIB) said its method of forming a fluid container using plastic film on which a pattern has been embossed has been patented. The Barrington, Ill.-based company's embossed film is used by fluid container makers that package soft drink syrups, coffee, juices and other food items.
Endurance Specialty Holdings Ltd. (ENH) estimated its Hurricane Rita-related losses at $85 million, net of reinsurance, reinstatement premiums, and tax benefits. Endurance estimated its gross losses related to the storm, before reinsurance, reinstatement premiums, and tax benefits, to be $95 million.
Greenfield Online Inc. (SRVY) said it expects to report revenue of $22 million to $23 million in the third quarter, down from its previous estimate of $26 million to $27 million. The Wilton, Conn.-based Internet survey firm also said that President and Chief Executive Dean Wiltse has left the company and resigned from the board. Greenfield named Albert Angrisani as president, CEO and board member, effective Sept. 28.
Hooker Furniture Corp. (HOFT) reported third-quarter net earnings of $664,000, or 6 cents a share, down from $3.2 million, or 27 cents a share, in the year-ago period. The company recorded pre-tax restructuring and asset impairment charges of $4.7 million, or 25 cents a share, in the quarter. Revenue at the Martinsville, Va.-based company fell 2.3%, to $82.4 million from $84.3 million. Analysts polled by Thomson First Call had estimated revenue at $80 million.
Insmed Inc. (INSM) said that data from its ongoing clinical trial for iPlex as a treatment of children with growth failure who suffer from Severe Primary IGF-1, has shown significantly increased height velocity, the primary endpoint of the study.
Lawson Software Inc. (LWSN) reported first-quarter net earnings of $4.2 million, or 4 cents a share. In the same quarter a year ago, the company reported a net loss of $417,000, or breakeven a share. Revenue at the St. Paul, Minn.-based business application software company rose to $87.9 million from $82.7 million last year. Analysts polled by Thomson First Call had estimated revenue at $85 million.
Novartis AG (NVS) said that a Food and Drug Administration committee has voted unanimously to recommend approval of Exjade as a treatment for patients with chronic iron overload due to blood transfusions.
Royal Bank of Canada (RY) said it expects to take a fourth-quarter after-tax charge of $130 million for expected claims related to damage caused by Hurricanes Katrina and Rita. The bank doesn't expect any significant level of claims to arise from its life insurance operations, and said the financial impact of the charge is within its risk tolerance.
Saba Software Inc. (SABA) reported a first-quarter net loss of $1.5 million, or 9 cents a share, vs. a net loss of $1.7 million, or 12 cents a share, in the year-ago period. Revenue at the Redwood Shores, Calif.-based personnel management software provider rose to $13.6 million from $9.3 million. Saba forecast second-quarter results ranging from a net loss of a penny a share to net earnings of 2 cents a share on revenue of $15 million to $16 million.
Spacehab Inc.'s (SPAB) astrotech space operations subsidiary has been awarded a contract by NASA/Kennedy Space Center to provide payload processing services valued at up to $4.9 million, the company said. The contract will support several NASA spacecraft expected to launch next year, Houston-based Spacehab said.
VeriSign Inc. (VRSN) said its third-quarter revenue would come in at $25 million to $30 million less than previously forecast.
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