SAN FRANCISCO – Among the companies whose shares are expected to see active trading in Wednesday's session are Finisar Corp., Sapient and Healthspring Inc.
Casey's General Stores Inc. (CASY) is expected to report fourth-quarter earnings of 26 cents a share, according to a survey of analysts by Thomson Financial.
Spartech Corp. (SEH) is expected to post earnings of 47 cents a share for the second quarter.
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American Eagle Outfitters Inc. (AEO) said it is raising its annual dividend rate 33 percent, to 40 cents a share from 30 cents.
A. Schulman Inc. (SHLM) cut its fiscal 2007 earnings forecast to a range of $17 million to $23 million, from its previous view of $25 million to $30 million. The Akron, Ohio, plastics company cited unexpected continued weakness in Europe and North America during the third quarter, and said it expects the weakness to run into the fourth quarter. A. Schulman said the estimate for the year ending Aug. 31 includes expected savings of $7 million from North American restructuring, and costs of about $2.5 million.
Celanese Corp. (CE) said late Tuesday it will be required to shut down the acetic acid unit at its Clear Lake, Texas, facility for additional repair. The company expects "sustainable operations" at the Clear Lake facility to resume by mid-July, and still expects full-year adjusted earnings to be within its previously announced range of $2.85 to $3.15 a share. However, Celanese expects second-quarter adjusted earnings to be "modestly below" the second-quarter consensus analysts' estimate of 87 cents a share.
EOn Communications Corp. (EONC) reported fiscal third-quarter net earnings of $20,000, or breakeven a share, down from $294,000, or 2 cents a share, in the year-ago period. The San Jose, Calif.-based provider of telecommunications products said revenue in the quarter ended April 30 rose 17 percent to $3.57 million from $3.05 million in the comparable period last year.
Finisar Corp. (FNSR) reported preliminary second-quarter revenue of $97.3 million, down 5% from the comparable period last year. The Sunnyvale, Calif.-based optical equipment company also announced the initial findings of its review of historical stock options grants, and said it found no evidence of "malfeasance on the part of any present or former officer, director, or employee relating to any Finisar options grant." However, the company said its investigation also determined that the measurement dates for a number of grants differed from the recorded grant dates, and as a result, Finisar will need to restate its previous financial results.
Healthspring Inc. (HS) cut its full-year guidance, due to higher-than-expected medical services costs and high in-patient rates in Texas. The Nashville-based managed-care company said it expects earnings of $1.20 to $1.35 a share, rather than its earlier forecast of $1.55 to $1.65 a share, and a Medicare Advantage medical loss ratio of between 81 percent and 82 percent. The company said the new annual guidance includes about $5.5 million, or 6 cents a share, in an impairment charges and other items related to its expectation of declines in membership in its Tennessee health plan. Analysts surveyed by Thomson Analytics expect, on average, 2007 earnings of $1.59 a share.
IHS Inc. (IHS) said it acquired Jane's Information Group from Woodbridge Co. through the issuance of about $183.5 million in IHS shares. The Englewood, Colo., technical information provider said Woodbridge also agreed to a three-year lock-up pact, restricting it from selling any IHS shares.
Measurement Specialties Inc. (MEAS) reported fiscal fourth-quarter net earnings of $2.97 million, or 21 cents a share, up from $2.84 million, or 20 cents a share, in the year-ago period. The Hampton, Va.-based maker of sensors for original equipment manufacturers said revenue in the three months ended March 31 rose to $54.4 million from $35.6 million in the comparable period a year ago. Analysts polled by Thomson Financial were expecting, on average, a per-share profit of 26 cents on revenue of $51 million. The company forecast fiscal first-quarter net earnings of 23 cents to 27 cents a share on revenue of $52 million to $53 million, and reaffirmed its fiscal 2008 revenue forecast of $225 million.
Rentrak Corp.'s (RENT) fiscal fourth-quarter net income grew 5 percent to $1.66 million, or 15 cents a share, from a year-earlier profit of $1.58 million or 14 cents a share. The Portland, Ore., information management company's revenue fell to $28.3 million from $28.4 million. Wall Street expected fourth-quarter earnings of 11 cents a share, on revenue of $26.6 million, according to the average estimate of analysts polled by Thomson Financial.
Sapient Corp. (SAPE) swung to a first-quarter profit of $775,000, or a penny a share, from a year-earlier loss of $1.44 million, or 1 cent a share. The Cambridge, Mass., technology and business consulting company's revenue grew to $125 million from $90.1 million. On average, analysts expected the company to post a quarterly profit of 2 cents a share and revenue of $118.7 million, according to Thomson Financial. The company expects second-quarter service revenue of more than $126 million. The company also said it completed its options review, recording $47 million in additional stock-based compensation between 1996 and 2005.
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