SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Friday's session are Adobe Systems Inc., Winnebago Industries and Cleveland-Cliffs.
Winnebago Industries (WGO) is expected to report fiscal third-quarter earnings of 49 cents a share, according to analysts polled by Thomson Financial.
After Thursday's closing bell, Adobe Systems Inc. (ADBE) said profit and sales rose during its second quarter, due to strong results for products including its recently launched Creative Suite 3.
Atari Inc. (ATAR) delayed filing its report for the year ended March 31 in order to provide time to determine the amount of a fourth-quarter goodwill impairment charge. The New York-based interactive entertainment company expects the charge to equate or consist of a substantial portion of the $54.1 million of goodwill that was recorded before the impairment. The charge was the result of a significant decline in Atari's market capitalization, the company said. Excluding the charge, the loss for the year was about $17.2 million, or $1.28 a share.
Build-A-Bear Workshop Inc. (BBW) cut its second-quarter earnings forecast to 7 cents to 10 cents a share, from its previous prediction of 15 cents to 19 cents a share. Wall Street expected second-quarter earnings of 19 cents a share, according to the average estimate of analysts polled by Thomson Financial. The St. Louis-based retailer lowered its outlook based on sales results for the 10-week period ended June 9 as well as same-store sales declines of 7 percent to 9 percent. The previous forecast assumed same-store sales would be flat to the negative low-single digit range.
Cenveo Inc. (CVO) said it has agreed to acquire Madison/Graham ColorGraphics Inc., a Los Angeles-based printer with roughly 400 employees and $170 million in revenue. Financial terms of the deal were not disclosed. Cenveo expects the transaction to close in July and add to its earnings.
Cleveland-Cliffs Inc. (CLF) said it has agreed to acquire PinnOak Resources LLC for $450 million in cash plus roughly $150 million in debt. Cleveland-Cliffs expects the deal to increase its 2008 revenue by $400 million and add $100 million to its earnings before interest, taxes, depreciation and amortization.
Cost Plus Inc. (CPWM) revised its fiscal first-quarter loss to $11.1 million, or 50 cents a share, from a preliminary estimate of $12 million, or 54 cents a share. The retailer, based in Oakland, Calif., said it hadn't finished analyzing certain tax depreciation methods on the report for the quarter ended May 5 when it released its preliminary numbers. Cost Plus reported a fiscal first-quarter 2006 loss of $3.54 million, or 16 cents a share.
Furniture Brands International Inc. (FBN) named Ralph Scozzafava as vice chairman and chief executive designate. The St. Louis-based company said current Chairman and Chief Executive W.G. (Mickey) Holliman plans to retire as CEO on January 1, 2008, and will remain chairman until May 1, 2008.
Hawkins (HWKN) reported fiscal fourth-quarter net earnings of $1.81 million, or 18 cents a share, up 38 percent from $1.31 million, or 13 cents a share, in the year-ago period. For the quarter ended April 1, the Minneapolis-based provider of bulk industrial products reported revenue of $39.7 million, up 8.8 percent from $36.5 million in the comparable period a year ago.
Lattice Semiconductor Corp. (LSCC) confirmed it expects second-quarter revenue to be flat to up 4 percent compared with its first-quarter revenue of $58.1 million. On average, analysts expect revenue of $59.5 million, according to a poll by Thomson Financial.
Smith & Wesson Holding Corp.'s (SWHC) said fiscal fourth-quarter net income rose 24 percent to $5.2 million, or 12 cents a share, from $4.2 million, or 11 cents a share, a year earlier. Sales for the quarter ended April 30 climbed 59 percent to $82.6 million from $51.9 million.
Stratos International Inc. (STLW) swung to earnings of $604,000, or 4 cents a share, for the fourth quarter ended April 30, from a loss of $418,000, or 9 cents a share. Both per-share figures are after preferred dividends. Revenue for the networking accessory manufacturer, based in Chicago, rose 26 percent to $26 million from $20.7 million in the year-ago period.
Terremark Worldwide Inc.'s (TMRK) fiscal fourth-quarter loss narrowed to $4.26 million, or 10 cents a share, from $21.8 million, or 50 cents a share, a year earlier. Revenue for the quarter ended March 31 jumped 61 percent to $30.7 million from $19 million as the company added 33 new customers. Analysts polled by Thomson Financial expected, on average, a loss of 9 cents a share on revenue of $30 million.
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