Stocks to Watch: Computer Sciences Corp., Lawson Software and Tenet Healthcare

SAN FRANCISCO – Among the companies whose shares are expected to see active trading in Tuesday's session are Computer Sciences Corp., Lawson Software Inc., and Tenet Healthcare Corp.

Exfo Electro-Optical Engineering (EXFO) is expected to report second-quarter earnings of 6 cents a share, according to a survey of analysts by Thomson Financial.

International Speedway Corp. (ISCA) is expected to post earnings of 74 cents a share for the first quarter.

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Layne Christensen Co. (LAYN) is expected to report fourth-quarter earnings of 21 cents a share.

Oxford Industries Inc. (OXM) is expected to post earnings of 57 cents a share for the third quarter.

Robbins & Myers Inc. (RBN) is expected to post second-quarter earnings of 47 cents a share.

After Monday's closing bell, Computer Sciences Corp. (CSC) said its federal business unit signed 62 previously unannounced new contracts between Jan. 1 and March 30. The information technology outsourcing company said the contracts had an estimated total value of $1.28 billion, if all options are exercised. Defense Department contracts totaling about $474 million accounted for 34 of the awards, the company said.

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Del Monte Foods Co. (DLM) said it has lost an arbitration decision that will lower its fiscal 2007 earnings per share from continuing operations by 2 cents a share. Del Monte said in a prepared release that it was found to have overcharged logistics provider Pacer Global Logistics for services between May 2005 and April 2006. Del Monte said that in addition to impacting earnings, the award will result in also having a $6 million negative impact on cash flow for its fiscal 2007 ended this month. Del Monte is expected to report fourth quarter 2007 earnings on June 14. Del Monte said in the statement that the impact on earnings and cash flow were not previously accounted for when it announced guidance in March of earnings of between 50 cents and 53 cents a share for the year, and between $150 million and $170 million in cash flow.

GlaxoSmithKline Plc (GSK) said its once-daily, extended-release ropinirole medication improves symptoms in patients with Parkinson's disease. Parkinson's disease is a chronic disease that impairs the body's ability to move and balance. The pharmaceutical company said the medicine, when added to patients' existing levodopa therapy, reduced 'off' time by more than two hours a day, allowing patients to continue daily activities for a longer period. GlaxoSmithKline said 'off time' is the return of Parkinson's symptoms as a patient's medication wears off. The study was a multi-center, double-blind, placebo controlled study in which 202 patients received ropinirole and 191 patients received a placebo.

Lawson Software (LWSN) said it needs more time to complete its third-quarter financial results, and delay reporting results to next Monday instead of Wednesday. The St. Paul, Minn., company said earnings would be lower than previously expected because of a restructuring charge of $11 million to $13.5 million. Excluding this charge, earnings are expected to exceed previous guidance ranging from a loss of a penny a share to breakeven, or per-share income of 2 cents to 3 cents before items. Lawson expects to report third-quarter revenue of $190 million to $192 million, excluding $1.8 million of deferred maintenance and service revenue.

Merix Corp. (MERX) reported third-quarter net earnings of $2.09 million, or 10 cents a share, up from $809,000, or 4 cents a share, during the year-ago period. The Forest Grove, Ore.-based maker of printed circuit boards posted revenue of $100.3 million vs. $92.8 million. Additionally, Merix said it has completed the previously disclosed sale of two non-strategic single-sided facilities in China. The company also said its search for a new chief executive continues, and it's optimistic about having a new CEO by the first quarter of fiscal 2008. Merix also said it expects fourth-quarter net income to be about breakeven and revenue to range between $93 million and $97 million.

Parker Hannifin Corp. (PH) acquired Rectus AG, a German maker of disconnect couplings for pneumatic, hydraulic, medical and chemical processing applications. Financial terms weren't disclosed. Rectus' 2006 revenue was $115 million. Cleveland-based Parker Hannifin said the acquisition will boost earnings in the first full year.

Smith & Wollensky Restaurant Group Inc. (SWRG) reported a fourth-quarter net loss of $3.46 million, or 40 cents a share, compared with a net loss of $397,000, or 4 cents a share, during the year-ago period. The New York-based restaurant chain posted revenue of $36.2 million vs. $33.7 million. Excluding impairment charges among other items, earnings were $2.3 million, or 27 cents a share, compared with $667,000, or 7 cents a share, last year. Same-restaurant sales rose 3.9 percent, the company said.

Tenet Healthcare (THC) said it has agreed to pay a $10 million civil penalty to the Securities and Exchange Commission, ending the agency's Medicare fraud investigation of the Dallas-based hospital operator. Tenet last spring agreed to pay the Justice Department $725 million and waive $175 million in Medicare payments to settle allegations Tenet purposefully inflated charges for inpatient and outpatient care to make them appear more costly than they actually were, subsequently obtaining outlier payments from Medicare it wasn't entitled to receive. Outlier payments are supplemental reimbursements made to hospitals and other healthcare providers for cases where the cost of care is unusually high. The settlement unveiled Monday also concludes a separate SEC probe into Tenet's accounting treatment of managed-care contractual reserves taken at three hospitals in California before 2003.

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