SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Friday's session are Solectron Corp., Applied Signal Technology Inc. and Ford Motor Co.
After Thursday's closing bell, Solectron Corp. (SLR) said its quarterly profit was cut in half, as its sales fell 9% while costs increased.
Amkor Technology Inc. (AMKR) bell said President and Chief Operating Officer John Boruch will retire at the end of the year. James Kim, the Chandler, Ariz.-based semiconductor company's chairman and chief executive, will assume some of the critical functions of the COO position, while other duties will be delegated.
Applied Signal Technology Inc. (APSG) reported fourth-quarter net earnings of $3.11 million, or 26 cents a share, compared with $2.42 million, or 21 cents a share, during the year-earlier period. Analysts polled by Thomson First Call had expected per-share earnings of 21 cents. Applied Signal reported quarterly revenue of $57.6 million, compared with $39.5 million last year. Analysts had expected revenue of $44 million.
Ashworth Inc. (ASHW) reported a fiscal fourth-quarter net loss of $2.24 million, or 16 cents a share. During the same period a year ago, the Carlsbad, Calif.-based golf sportswear company reported net earnings of $1.9 million, or 14 cents a share. Ashworth posted revenue of $55.3 million compared with $48.3 million during the year-ago period. Analysts polled by Thomson First Call had estimated a fourth-quarter loss of 16 cents a share on revenue of $55 million.
Bausch & Lomb Inc. (BOL) said it will restate some of its financial results following the conclusion of its investigation into its Brazilian subsidiary, BL Industria Otica Ltda. Bausch & Lomb said it expects to post, on a per-share basis, restated fiscal 2000 earnings of $1.49 vs. previously stated earnings of $1.52; 2001 earnings of 31 cents vs. 39 cents; 2002 earnings of $1.15 vs. $1.34; 2003 earnings of $2.15 vs. $2.34; and 2004 earnings of $2.92 vs. $2.93. It expects to report restated first-quarter per-share earnings of 61 cents vs. 63 cents, and second-quarter per-share earnings of 80 cents vs. 81 cents.
Best Buy Co. (BBY) said it has agreed to acquire Pacific Sales Kitchen and Bath Centers Inc., a high-end home improvement products retailer, for $410 million in cash. Best Buy said it doesn't expect the deal to change its fiscal 2006 earnings, but expects it to add nominally to its earnings in the second half of fiscal 2007. The deal is expected to close in the middle of January.
Unionized workers at Ford Motor Co. (F) narrowly ratified a tentative cost-cutting deal aimed at saving the troubled automaker almost $1 billion by reducing health-care benefits, officials said.