SAN FRANCISCO – Among the companies whose share are expected to see active trade in Friday's session are Oracle Corp., Solectron Corp., Six Flags Inc. and Neurocrine Biosciences Inc.
After Thursday's closing bell, Oracle Corp. (ORCL) said its quarterly profit rose 27% and revenue climbed 25% on strong sales of new software licenses, particularly in its applications segment, as the business-software giant's acquisitions boosted growth. See full story.See After Hours column.
Blackboard Inc. (BBBB) raised its second-quarter and 2006 earnings outlook following stronger-than-expected market demand for its offerings. The Washington-based education services provider said it now expects a second-quarter per-share net loss of 23 cents to 24 cents on revenue of $41.8 million to $42.8 million. Analysts polled by Thomson First Call are currently looking for a loss of 29 cents a share on revenue of $41 million for the quarter. For 2006, the company said it now sees a per-share net loss of 43 cents to 47 cents on revenue of $173.1 million to $176.1 million. Analysts are estimating a loss of 52 cents a share on revenue of $172 million for the year.
City National Corp. (CYN) lowered its 2006 earnings per share growth forecast to between 1% and 4%. The Beverly Hills, Calif. bank holding company had previously expected growth to be between 8% and 10%. The company said in a regulatory filing its net interest income is increasing more slowly than it expected, mainly due to lower-than-expected deposit growth and higher funding costs.
HMS Holdings Corp. (HMSY) said it has agreed with its subsidiary, Health Management Systems Inc., to acquire the assets of Public Consulting Group Inc.'s benefits solutions practice area. The healthcare service provider will pay $80 million in cash, plus 2.02 million of its common stock shares, for the division, which provides services to Medicaid and other government agencies.
Isle of Capri Casinos Inc. (ISLE) reported fourth-quarter earnings of $15.1 million, or 48 cents a share, up from a year-ago profit of $3.5 million, or 11 cents a share.
Neurocrine Biosciences Inc. (NBIX) said it's reached an agreement with Pfizer (PFE) to end a collaboration agreement related to Indiplon, which is being developed as a sleep maintenance drug.
Old Dominion Freight Line Inc. (ODFL) lifted its earnings outlook for the second quarter, citing a higher than expected increase in less-than-truckload tonnage as well as a more favorable pricing environment. The Thomasville, N.C., trucking company now sees a profit of 50 to 52 cents a share for the June period, compared to its previous forecast of 43 to 46 cents a share. The current average estimate of analysts polled by Thomson First Call is for a profit of 46 cents a share in the quarter.
Six Flags Inc. (SIX) said it plans to examine its potential strategic options for six properties. The company also said attendance fell 11% for the period through May 31, while revenue for the period increased 1%. In addition, Six Flags said it expects it will be "extremely difficult" to meet its previously issued outlook for adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) for the second quarter and said it's at risk of non-compliance with certain financial covenants of its bank credit agreement.
Smart Modular Technologies Inc. (SMOD) reported third-quarter earnings of $4.6 million, or 7 cents a share, down from a year-ago profit of $5.6 million, or 10 cents a share. Excluding items, the Fremont, Calif., maker of memory products earned $10.4 million, or 16 cents a share, in the latest quarter. Sales rose in the latest three months to $188.5 million from $146.8 million in the same period a year earlier. The average estimate of analysts polled by Thomson First Call was for a profit of 15 cents a share in the May period.
Solectron Corp. (SLR) reported a fiscal third-quarter profit, turning around from a year-ago loss, on the back of the electronics contract manufacturer's 4% increase in revenue. See full story.
Spectrum Control Inc. (SPEC) reported second-quarter net earnings of $1.73 million, or 13 cents a share, up 31% from $1.32 million, or 10 cents a share, in the year-ago period. Revenue at the Fairview, Pa.-based maker of electronic control products rose to $31.9 million from $25.9 million. The company expects third-quarter earnings of 14 cents to 15 cents a share, and fourth-quarter earnings of 19 to 21 cents a share. Spectrum expects $32 million in revenue in both the third and the fourth quarters.
Sunterra Corp. (SNRR) said its board has directed Nicholas Benson, its president and CEO, to take paid administrative leave pending the results of a previously disclosed probe into allegations made by a former employee related to the company's Spanish operations.
Tektronix Inc. (TEK) reported fourth-quarter net earnings of $31.9 million, or 37 cents a share, up 50% from $21.2 million, or 24 cents a share, during the year-ago period. The Beaverton, Ore.-based provider of technology measurement solutions posted revenue of $289.3 million vs. $261 million. Excluding items, earnings from continuing operations were $36.4 million, or 43 cents a share, compared with $27.4 million, 31 cents a share, a year ago. Analysts polled by Thomson First Call had forecast fourth-quarter earnings of 42 cents a share on revenue of $282 million.