SAN FRANCISCO – Among the companies whose share are expected to see active trade in Friday's session are Cognos Inc., Genesis Microchip Inc. and Saba Software
After Thursday's closing bell, Cognos Inc. (COGN) said its fiscal fourth-quarter profit fell 19% to $44 million, or 48 cents a share, from $54.3 million, or 58 cents a share, a year ago. Revenue for the quarter dipped 1.2% to $253.1 million from $256.3 million. The results outpaced Wall Street expectations.
Boston Properties Inc. (BXP) is in talks to sell two New York properties that could fetch more than $2 billion, the real estate investment trust said late Thursday. The company did not identify the properties. The company said it would distribute a portion of the proceeds to shareholders.
Casual Male Retail Group Inc. (CMRG) reported fourth-quarter net earnings of $13.5 million, or 33 cents a share, up 71% from $7.9 million, or 22 cents a share, in the year-ago period. Excluding certain items, profit came in at 18 cents a share compared with 14 cents a share last year. Revenue at the Canton, Mass.-based company rose to $129.7 million from $118.2 million.
Directed Electronics Inc. (DEIX) reported a fourth-quarter net loss of $10.2 million, or 51 cents a share. Excluding certain items, the company earned $11 million, or 55 cents a share. In the same period last year, the company's net profit was $7.06 million, or 38 cents a share. Revenue at the Vista, Calif.-based distributor of vehicle security and convenience systems rose 69% to $135.5 million from $80.1 million.
Genesis Microchip Inc. (GNSS) trimmed its fiscal fourth-quarter sales target due to weaker demand for its television chips in Europe and China. See full story.
Hughes Supply Inc. (HUG) said its shareholders have approved a merger agreement with Home Depot Inc. (HD) . Home Depot is acquiring Hughes for $3.51 billion, or $46.50 a share plus the assumption of $325 million in debt. A total of 71% of shareholders approved the deal.
Merix Corp. (MERX) reported fiscal third-quarter net earnings of $809,000, or 4 cents a share, vs. $393,000, or 2 cents a share, in the year-ago period. Excluding items, the company earned 14 cents a share compared with 4 cents a share last year. Revenue at the Forest Grove, Ore.-based circuit board maker rose 90% to $95.1 million from $50 million last year. Analysts polled by Thomson First Call had forecast a per-share profit of 2 cents on revenue of $89 million.
Mohawk Industries Inc. (MHK) revised its first-quarter earnings forecast to a range of $1.03 to $1.05 a share. The Calhoun, Ga.-based flooring supplier said the change is attributable to its Mohawk segment, which had higher-than-expected accounting charges and lower-than-expected growth in sales and margins.
NeoMagic Corp. (NMGC) reported a fourth-quarter net loss of $3.98 million, or 57 cents a share, compared with a net loss of $8.56 million, or $1.29 a share, during the year-ago period. Revenue at the Santa Clara, Calif.-based provider of applications processors fell to $104,000 from $222,000.
Restoration Hardware Inc. (RSTO) swung to a fourth-quarter loss and said a top executive will depart as soon as a successor is found. See full story.
Ruth's Chris Steak House Inc. (RUTH) said it still expects first-quarter earnings of 24 cents to 26 cents a share. Analysts polled by Thomson First Call are currently forecasting per-share earnings of 26 cents for the quarter on revenue of $63 million. The restaurant chain said that company-owned restaurant sales increased 15.6% to $62.3 million during the quarter vs. $53.9 million during the year-ago period. Overall revenue is expected to total $65.1 million to $65.3 million for the quarter compared with $56.7 million a year ago.
Synplicity Inc. (SYNP) said it plans to exit the ASIC market, focusing its efforts on the field-programmable gate arrays and ASIC verification segments. The company plans to cut about 8% of its workers in a move that it expects to save it about $4.5 million a year. The company expects to book a charge of around $900,000 related to the job cuts in its quarter that ends in March.
Workstream Inc. (WSTM) said the third-quarter net loss was $3.42 million, or 7 cents a share, compared with a net loss of $3.55 million, or 8 cents a share, during the same period in the prior year. The quarterly per-share loss before interest, taxes, depreciation and amortization was 4 cents, compared with a loss of 3 cents in the prior year. Analysts polled by Thomson First Call had expected a per-share loss of 3 cents. The provider of workforce management software said third-quarter revenue was $6.74 million, compared with $6.87 million last year. Analysts were looking for revenue of $8 million. The company also said Thursday that it is exploring "strategic alternatives" to maximize shareholder value.
Raytheon Co. (RTN) said it will pay a 9% higher annual dividend of 96 cents a share and plans to buy back up to $750 million more in company stock. See full story.
Saba Software Inc. (SABA) reported a fiscal third-quarter net loss of $1.94 million, or 9 cents a share, compared with a net loss of $485,000, or 3 cents a share, during the year-ago period. Revenue at the Redwood Shores, Calif.-based software company rose 73% to $18.2 million from $10.5 million.