SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Tuesday's session are Take-Two Interactive Software, Shuffle Master Inc. and Syntax-Brillian Corp.
Globecomm Systems Inc. (GCOM) is expected to report fiscal fourth-quarter earnings of 19 cents a share, according to analyst polled by Thomson Financial.
Syntax-Brillian Corp. (BRLC) is seen posting a fiscal fourth-quarter per-share profit of 12 cents.
After Monday's closing bell, Take-Two Interactive Software (TTWO) said it managed to scale back its net losses for the July quarter even as revenue dropped from the previous year due to tough comparisons. See full story.
Watch List
Aastrom Biosciences Inc.'s (ASTM) fiscal fourth-quarter net loss widened 12% to $4.83 million, or 4 cents a share, from $4.3 million, or 4 cents a share, a year earlier. On average, analysts polled by Thomson Financial expected a fiscal fourth-quarter loss of 4 cents a share. The Ann Arbor, Mich., cell therapy technology company said fiscal fourth-quarter revenue for the three months ended June 30 decreased 50% to $165,000, from $328,000.
Computer Sciences Corp. (CSC) said it plans to restate its fiscal 2007 results to correct errors relating to its accounting for income taxes and for the effect of foreign currency exchange rate movements on intracompany accounts. The El Segundo, Calif.-based information technology services company estimated that the corrections could result in a cumulative charge of roughly $200 million. CSC also said the corrections in accounting for foreign currency exchange rate movements could result in a material cumulative gain.
Comverse Technology Inc.'s (CMVT) fiscal second-quarter net loss widened to $73.6 million from $24.7 million a year earlier. Adjusting for stock-based compensation, special committee investigation expenses, a retention bonus and other items, income fell to $32.2 million from $40.7 million a year earlier. The New York-based software company's revenue rose to $446.5 million in the period ended July 31 from $394.1 million in the year-ago period.
Continental Airlines Inc. (CAL) said it expects overall capacity to increase 3.5% in the third quarter, bringing its consolidated load factor to a range of 83% to 84%. In a filing to the Securities and Exchange Commission, Continental said it expects to end the third quarter with an unrestricted cash and short-term investments balance of approximately $3 billion.
Dollar Financial Corp.'s (DLLR) fiscal fourth-quarter earnings grew to $10.3 million, or 42 cents a share, from a year-earlier profit of $1.94 million, or 10 cents a share. Excluding income taxes, earnings increased to 48 cents a share. The Berwyn, Pa., check-cashing company's revenue grew to $109.1 million for the period ended June 30, from $86.9 million. Same-store sales grew 7.15 in the fiscal fourth quarter and on a constant-currency bases, increased 3.8% in the period. Wall Street expected earnings of 47 cents a share, on revenue of $107.7 million, according to the average estimates of analysts polled by Thomson Financial. The company predicted fiscal 2008 earnings of $2.05 to $2. 20 a share, on revenue of $470 million to $490 million. A plan to open new stores in Canada will reduce 2008 pretax income by $3 million to $3.5 million.
Exelixis Inc. (EXEL) said it has agreed to sell 7 million shares in a public offering. The South San Francisco, Ca.-based biotechnology company said it will also grant the underwriter, Goldman, Sachs & Co., a 30-day option to purchase up to an additional 1.05 million shares. The offering is expected close on or about Sept. 13.
Forest City Enterprises Inc.'s (FCEA) second-quarter net income rose to $67.8 million, or 63 cents a share, from $7.49 million, or 7 cents a share, a year earlier, boosted by gains from property sales Earnings from continuing operations were $4.19 million, or 4 cents a share, compared with a year-earlier loss of $1.08 million, or a penny a share. The commercial and residential real-estate company said Monday that quarterly revenue grew nearly 15% to $287.6 million from $250.8 million a year earlier. The company expects its land business segment will remain soft into the foreseeable future.
G-III Apparel Group's (GIII) fiscal second-quarter loss narrowed to $884,000, or 5 cents a share, from $1.74 million, or 14 cents a share, a year earlier on a sales boost led by its Calvin Klein, Guess and Sean John brands. The New York apparel company's net sales for the quarter ended July 31 increased 21% to $83.9 million from $69.1 million. Analysts polled by Thomson Financial predicted a second-quarter loss of 20 cents a share and revenue of $75.5 million. The company raised its 2008 earnings and revenue forecasts to 98 cents to $1.03 a share and $510 million, respectively. G-III had predicted net income of 90 cents to 95 cents a share and revenue of $500 million. Analysts predict annual earnings of 95 cents a share and revenue of $115.1 million.
John B. Sanfilippo & Son Inc. (JBSS) said its fiscal fourth-quarter net loss narrowed to $3.91 million, or 37 cents a share, from $9.62 million, or 91 cents a share, in the year-ago period. Revenue in the quarter ended June 28 dropped 6% to $122.9 million from $130.8 million. The Elgin, Ill.-based nut producer also said its independent auditor intends to issue a "going concern" qualification for the company's financial statements for the year ended June 28.
SGX Pharmaceuticals Inc. (SGXP) said it and Novartis AG (NVS) expect to file an IND on one of its BCR-ABL inhibitors, SGX393, in the second half of 2008, contingent upon the successful completion of further preclinical studies. The inhibitor drugs are for treatment of chronic myelogenous leukemia.
Sharper Image (SHRP) said its fiscal second-quarter loss widened to $20.6 million, or $1.36 a share, from $14.6 million, or 98 cents a share, a year earlier. The San Francisco-based specialty retailer's revenue fell 25% to $80.3 million in the period ended July 31 from $107.2 million in the year-ago period. On average, analysts polled by Thomson Financial expected a per-share loss of 93 cents and revenue of $79 million. Sharper Image said it will close its Richmond, Va., distribution center as part of a plan to streamline functions and increase operational efficiency.
Smart Modular Technologies Inc. (SMOD) expects to post fiscal fourth- quarter net income of 21 cents to 23 cents a share, including 3 cents to 5 cents a share related to the release of a deferred tax asset allowance. The Fremont, Calif., memory manufacturer expects to report sales of $160 million to $165 million for the period ended Aug. 31, down 16% to 19% from the same period a year earlier. DRAM pricing and a leveling in demand hurt fourth-quarter results, the company said. Wall Street expected fourth-quarter earnings of 24 cents a share, on revenue of $206.7 million, according to the average estimates of analysts polled by Thomson Financial
Shuffle Master Inc. (SHFL) reported third-quarter net earnings of $2.74 million, or 8 cents a share, down 62% from $7.27 million, or 20 cents a share, in the year-ago period. The Las Vegas-based maker of gambling products said revenue in the three months ended July 31 rose to $45.1 million from $40.7 million in the comparable period last year. Analysts polled by Thomson Financial were expecting, on average, a per-share profit of 13 cents on revenue of $46 million.
Source Interlink Cos. (SORC) reported second-quarter net earnings of $2.22 million, or 4 cents a share, down 46% from $4.09 million, or 8 cents a share, in the year-ago period. The Bonita Springs, Fla.-based marketer of entertainment DVDs, CDs and books said revenue in the three months ended July 31 rose slightly to $434.1 million from $433.3 million in the comparable period last year.
Western Digital Corp. (WDC) expects fiscal first-quarter earnings of 34 cents to 38 cents a share. Excluding charges related to its acquisition of Komag Inc., Western Digital expects earnings for the quarter ending Sept. 28 of 61 cents to 65 cents a share. Revenue for the period is expected to range from $1.63 billion to $1.68 billion, the Lake Forest, Calif., data storage company. Analysts polled by Thomson Financial, on average, predict first-quarter earnings of 48 cents a share and revenue of $1.49 billion. Western Digital predicts the Komag transaction will add to earnings during the fourth quarter, the company said.
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