Early Tech Stocks in Motion
Adobe
(ADBE) - Get Report
earned $151.9 million, or 60 cents a diluted share, in its first quarter, compared with a profit of $123 million in the year-ago quarter. Revenue rose 11.7% from last year to $472.9 million. Excluding items, the company earned 53 cents a share. On that basis, analysts had been expecting earnings of 50 cents a share on sales of $462.3 million. Looking forward, the company expects to earn a second-quarter profit ranging from 51 cents to 55 cents a share, on sales ranging from $475 million to $495 million. Analysts polled by Thomson First Call were projecting a profit of 51 cents with revenue of $478.16.
California Micro Devices
( CAMD) previewed a weaker-than-expected fourth quarter Thursday, saying it expects to report a loss of 4 cents to 6 cents a share on revenue of $13.8 million to $14.5 million. Analysts surveyed by Thomson First Call had been forecasting earnings of 4 cents a share on sales of $15.2 million. The company said the loss will reflect a plant-closing charge of $300,000 and an inventory reserve of $600,000. California Micro also cited weaker demand for mobile products.
Oracle
(ORCL) - Get Report
lost CFO Harry You Thursday night after the executive agreed to take over as chief executive of
BearingPoint
(BE) - Get Report
. You's welcome was inauspicious at the Virginia-based consultancy, which warned of an unexpected fourth-quarter loss. Like many other companies, BearingPoint said it would delay filing its annual report with regulators as it examines its accounting. The company said it has identified material weaknesses in its internal controls and that it may need to restate prior financials. When it does report, it expects to show a loss for the quarter and possibly the year.
palmOne
(PLMO)
reported third-quarter earnings and revenue that matched Wall Street expectations but dramatically cut its fourth-quarter earnings forecast. Excluding items, palmOne earned $10.6 million, or 21 cents a share, in its current quarter, up from pro forma income of $600,000, or 1 cent a share, a year ago. For the current quarter, the company expects to earn a pro forma 25 cents to 32 cents a share. Analysts had been expecting 50 cents to 60 cents a share on that basis.
3Com
( COMS) lost $53 million, or 14 cents a share, on sales of $161 million for the fiscal third quarter. Those numbers compare with a year-ago loss of $86 million, or 22 cents a share, on sales of $172 million. The top-line performance beat the $153 million target analysts were looking for, according to Reuters Research. Looking ahead, 3Com says it expects sequential sales growth in the mid- to high-single-digit range, with fourth-quarter gross margins of about 35%.
ChipMOS
(IMOS) - Get Report
earned $3 million, or 5 cents a share, in its fourth quarter, down from $13 million, or 21 cents a share, last year. Revenue rose 44% from a year ago to $116 million. Analysts surveyed by Thomson First Call had been expecting earnings of 15 cents a share in the quarter on sales of $116.6 million. The company sees first-quarter revenue of $104 million to $106 million. Analysts had been predicting $112.2 million.