Published January 13, 2015
Among the companies whose shares are expected to see active trade in Friday's session are Oracle Corp., Adobe Systems Inc., and KB Home.
Steelcase Inc. (SCS) is expected to report a per-share profit of 14 cents in its third quarter, according to analysts polled by Thomson First Call.
After Thursday's closing bell, Oracle Corp. (ORCL) said its quarterly net slipped 2% as the database software company posted an increase in sales but felt the effects of adverse currency-exchange rages and higher expenses following a spate of acquisitions.
Ace Ltd. (ACE) said it expects property and casualty net earned premiums in 2006 to grow 6% to 8%.
Adobe Systems Inc. (ADBE) said its quarterly net profit rose 38% as revenue increased on continued strong demand for both its document-management and design software product lines.
Federal banking regulators approved Bank of America's (BAC) $35 billion acquisition of credit-card giant MBNA Corp. (KRB) .
BellSouth Corp. (BLS) said it will cut 1,500 jobs. The reductions will take place in supervisory and non-supervisory management positions, including staff support functions, the Atlanta-based telecommunications company said. Most of the reductions are expected to occur through voluntary severance packages and are to be completed by April 30. BellSouth said it will take a related after-tax charge of $95 million, $50 million of which will be recognized in the fourth quarter.
Cal Dive International Inc. (CDIS) said it expects 2006 earnings of $2.30 to $3.30 a share. Additionally, the Houston-based energy services company said it expects capital expenditures in 2006 of $110 million for marine contracting, $230 million for oil and gas production and $35 million for production facilities.
California Micro Devices Corp. (CAMD) raised the bottom end of its third-quarter earnings forecast while lowering its revenue outlook. The Milpitas, Calif.-based semiconductor products supplier now expects earnings of 9 cents to 10 cents a share on revenue of $18.8 million to $19.7 million. Analysts polled by Thomson First call are estimating earnings of 10 cents a share on revenue of $20 million.
CSG Systems International Inc. (CSGS) lowered its fourth-quarter earnings forecast to a range of 9 cents to 11 cents a share on revenue of $92 million to $95 million. The Englewood, Colo.-based customer care and billing services company had previously forecast fourth-quarter earnings of 21 cents to 23 cents a share on revenue of $96 million to $99 million.
Danaher Corp. (DHR) raised its 2005 earnings forecast to a range of $2.76 to $2.79 a share from $2.74 to $2.79 a share. The Washington-based instrument and tool maker also forecast 2006 earnings of $3.13 to $3.23 a share, before the impact of expensing stock options. The company forecast first-quarter earnings of 61 cents to 66 cents a share before stock-option expense.
Darden Restaurants Inc. (DRI) reported net earnings for the second quarter of $55.1 million, or 35 cents a share, compared with $43 million, or 26 cents a share, in the same period last year. Analysts polled by Thomson First Call had expected per-share earnings of 31 cents. The restaurant operator reported quarterly revenue of $1.325 billion, compared with $1.23 billion last year. Analysts had expected revenue of $1.33 billion. Orlando, Fla.-based Darden said it expects per-share earnings growth for fiscal 2006 to be in the 15% to 20% range, with U.S. same-restaurant sales growth of 4% to 5%.
Private education company eCollege (ECLG) said it expects to earn $8.3 million to $9.2 million in 2006, equal to earnings of 37 to 41 cents a share. Excluding special charges, the company expects to earn 73 to 77 cents a share. Revenue is projected at $121 to $124 million. The average estimate of analysts polled by Thomson First Call is for earnings of 64 cents a share.
KB Home (KBH) reported fiscal fourth-quarter net earnings of $310.6 million, or $3.51 a share, up 66% from $186.7 million, or $2.21 a share, in the year-ago period. Revenue rose to $3.15 billion from $2.38 billion. Analysts polled by Thomson First Call had estimated earnings of $3.34 a share on revenue of $3.27 billion. The Los Angeles-based homebuilder generated 9,747 net orders in the fourth quarter, up from 8,516 net orders last year. KB Home also reaffirmed its 2006 earnings forecast of $11.25 a share.
RF Monolithics Inc. (RFMI) reported a net loss for the first quarter of $49,000, or a penny a share. During the same period last year the company reported net earnings of $407,000, or 5 cents a share. The Dallas-based supplier of radio frequency wireless solutions reported quarterly revenue of $12.3 million, compared with $12.16 million last year.
Chip equipment company SMSC Corp. (SMSC) said it earned $5.4 million, or 24 cents a share, in the third quarter, up from $600,000, or 3 cents a share, the year earlier. Excluding special charges, the company said it would have earned 38 cents a share against 4 cents a year ago. Revenue climbed to $86.6 million from $50.8 million. The average estimate of analysts polled by Thomson First Call was for earnings of 33 cents a share on revenue of $83 million.
Tektronix Inc. (TEK) reported second-quarter net earnings of $19.9 million, or 24 cents a share. In the same period last year, the company reported a net loss of $2.83 million, or 3 cents a share. Excluding acquisition-related costs and other items, earnings from continuing operations were 31 cents a share compared with 39 cents a share a year ago. Revenue fell to $253.4 million from $266.8 million. Analysts polled by Thomson First Call had estimated revenue of $249 million.
Weyerhaeuser Co. (WY) said it would permanently close two paper machines, resulting in a pre-tax charge of $380 million to 385 million in the fourth quarter.