SAN FRANCISCO – Among the companies whose shares are expected to see active trading during Wednesday's session are Bed Bath & Beyond Inc., Paychex Inc. and Actuant Corp.
Actuant Corp. (ATU) is expected by analysts polled by Thomson Financial to report fiscal fourth-quarter earnings of 94 cents a share.
Bed Bath & Beyond Inc. (BBBY) is forecast to post earnings of 52 cents a share for the second quarter.
Intervoice Inc. (INTV) is expected to report a loss of 2 cents a share for the second quarter.
Paychex Inc. (PAYX) is forecast to post a per-share profit of 39 cents for its fiscal first quarter.
Xyratex (XRTX) is forecast to report earnings of 24 cents a share for its fiscal third quarter.
After Tuesday's closing bell, Red Hat Inc. (RHT) said its second-quarter profit rose 59 percent to $19.1 million, or 9 cents a share. Sales at the provider of open-source software rose 28 percent to $127.3 million, ahead of Wall Street analysts' expectations for $125 million. Excluding certain items, earnings were 7 cents a share.
Aehr Test Systems' (AEHR) fiscal first-quarter net income rose 40 percent to $779,000, or 9 cents a share. Excluding stock-based compensation expenses, earnings were 12 cents a share. Sales rose 7.3 percent to $7.66 million. Aehr expects sequential increases in its fiscal second-quarter net income and net sales.
Agrium Inc. (AGU) said it is closing its Kenai nitrogen fertilizer operations because of a shortage of natural gas supply in Alaska's Cook Inlet. More than 100 employees will be laid off as a result of the closure. Agrium estimates the facility will contribute about $6 million in earnings before taxes, interest, depreciation and amortization in 2007, and account for less than 1 percent of Agrium's total 2007 EBITDA.
CMGI Inc. (CMGI) said its fiscal fourth-quarter net loss was $6.2 million, or 1 cent a share, compared with a net loss of $2.5 million, or 1 cent a share, a year ago. Earnings excluding certain items were $7.2 million. Revenue at the supply chain management products and services provider was $252.6 million, down from $261.9 million, in the year-ago period. The company forecast fiscal 2008 revenue of $1.10 billion to $1.15 billion. CMGI also plans to a 1-for-10 reverse stock split, and split-adjusted shares will begin trading on Nov. 1.
Greatbatch Inc. (GB) lowered its full-year earnings forecast, citing reduced sales volumes, slightly offset by lower expenses associated with in-process R&D charges from its Enpath Medical Inc. acquisition. It now sees earnings of 67 cents to 71 cents. Greatbatch previously expected earnings of 78 cents to 82 cents a share. Adjusted earnings of $1.37 to $1.41 a share are now expected, down from $1.57 to $1.64 a share. The power source company also cut its sales forecast, to a range of $305 million to $315 million. It previously forecast sales of $320 million to $325 million. Wall Street currently expects adjusted per-share earnings of $1.61 and revenue of $324 million.
H.B. Fuller Co. (FUL) said fiscal third-quarter net income rose 17 percent to $28.4 million, or 46 cents a share. Revenue at the specialty chemical products company fell 1.1 percent to $367.9 million. Analysts expected earnings of 45 cents on revenue of $373 million. The company raised its forecast for fiscal fourth-quarter earnings from continuing operations to a range of 50 cents to 53 cents a share, and its full-year forecast to a range of $1.75 to $1.78 a share. It previously expected earnings at the high end of a range of $1.65 to $1.75 a share.
MetLife Inc.'s (MET) board approved a $1 billion stock repurchase program, to begin after the completion of an earlier $1 billion buyback program that was announced Feb. 28. The insurance giant said about $240 million remains from the initial buyback plan.
NaviSite Inc.'s (NAVI) fourth-quarter loss widened to $17.1 million, or 53 cents a share, from $3.05 million, or 11 cents a share, a year earlier, as it paid down debt. Revenue rose 18 percent to $34.7 million. Excluding the loss on debt extinguishment, the net loss narrowed to $1.4 million, or 4 cents a share. Analysts expected a loss of 8 cents a share on revenue of $34 million. The provider of outsourced Internet site hosting services expects first-quarter earnings, excluding items, of $6.7 million to $7.2 million on revenue of $36 million to $37 million.
Resources Connection Inc. (RECN) said fiscal first-quarter net income rose 5.8 percent to $11.6 million, or 23 cents a share. Excluding stock-based compensation expenses, earnings were $16.1 million, or 31 cents a share. Revenue at the professional services company increased 18% to $194.1 million. Analysts were looking for earnings of 28 cents a share, including stock-based compensation, and revenue of $197.2 million.
Worthington Industries Inc. (WOR) said net income in its fiscal first quarter fell to $20.2 million, or 24 cents a share, from $43.2 million, or 48 cents a share. The steel processor said sales fell to $759 million from $778.7 million because of lower pricing in its steel processing and metal framing businesses. Wall Street had forecast earnings of 22 cents a share on sales of $669 million. The company also said it will consolidate five of its Dietrich Metal Framing locations, affecting 165 workers. The consolidation, to be completed by the end of the year, will result in $9 million in savings annually.
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