( BRLC) surged in after-hours trading Thursday when the Tempe, Ariz.-based high-definition-television company swung to a first-quarter profit.
The company posted income of $3.8 million, or 7 cents a share, compared with a loss of $658,000, or 2 cents a share, a year ago. Revenue totaled $87 million, up 218% from a year ago. Results for the most recent quarter include noncash compensation charges of $481,000 related to employee stock options, depreciation and amortization expense of $1 million, and noncash interest expense of $2.5 million.
Analysts polled by Thomson First Call were looking for earnings of 1 cent a share on revenue of $75.3 million. Looking ahead, the company expects second-quarter revenue of $178 million to $190 million, including the operations of Vivitar, which Syntax-Brillian recently agreed to buy.
Excluding Vivitar, the company expects revenue of $160 million to $170 million, predominantly from sales of LCD TVs. For fiscal year 2007, the company expects revenue in the range of $565 million to $605 million, including Vivitar. Excluding Vivitar, the company expects sales in the range of $490 million to $520 million. Shares were trading up 89 cents, to 14.2%, or $7.15.
( ERTS) gained after the San Jose, Calif.-based video-game publisher beat Wall Street's second-quarter earnings expectations. The company posted income of $22 million, or 7 cents a share, down from $51 million, or 16 cents a share a year ago. Revenue totaled $784 million, up 16% from a year ago.
Excluding special items, the company reported a profit of $65 million, or 21 cents a share, compared with $46 million, or 15 cents a share in the year-ago quarter. Analysts surveyed by Thomson First Call forecast 2 cents a share. Wall Street was looking for earnings of 2 cents a share on revenue of $672.5 million.
Looking ahead, the company expects third-quarter earnings of 33 cents to 43 cents a share, or, excluding items, 50 to 60 cents a share on revenue of $1.2 billion to $1.3 billion. For the full year ending in March 2007, EA said sales will range from $2.95 billion to $3.125 billion, above its previous guidance of $2.8 billion to $3 billion. Analysts anticipate $2.94 billion in sales.
EPS would be break-even to 15 cents, better than the 30-cent-loss to break-even previously forecast. Excluding some items, EPS will range from 55 cents to 70 cents, above the earlier guidance of 35 cents to 65 cents and bracketing the average analyst estimate, which pegged the company to hit the low end at 56 cents. Shares were trading up $4.25, or 8%, to $57.25.
Red Robin Gourmet
plummeted after the burger chain trimmed fourth-quarter targets, saying it needs to slow new restaurant openings. The Greenwood Village, Colo.-based company said earnings for the quarter ended Oct. 1 fell to $6 million, or 36 cents a share, from the year-ago $6.5 million, or 39 cents a share.
The latest quarter included a 6-cents-a-share charge for the acquisition of 11 restaurants. Excluding the charge, latest-quarter earnings were 42 cents a share, a penny shy of the Thomson First Call target. Revenue rose 30% from a year ago to $148.6 million, beating the $148.3 million Thomson target. The company said it expects to make 33 to 38 cents a share for the fourth quarter on sales of $157 million. Analysts were looking for 49 cents on $164 million. Shares were tumbling $9.20, or 20%, to $36.80.
Whole Foods Market
( WFMI) sank after the peddler of organic Cornish hens pointed to a sales slowdown and predicted a 2007 earnings hit. The Austin, Texas-based grocer said it expects to slow sales growth in stores open a year to a range of 6%-8%. The company had produced three consecutive years of double-digit same-stores sales growth. CEO John Mackey will cut his salary next year to $1, claiming he has "reached a place in my life where I no longer want to work for money."
Whole Foods raised its salary cap for workers who do want to work for money to $608,000 from $437,000, citing the need to attract and retain executives. For the fiscal fourth quarter ended Sept. 24, Whole Foods made $40 million, or 28 cents a share, up from the year-ago $9 million, or 6 cents a share. Excluding certain items, earnings rose to 29 cents a share from 23 cents a year earlier, matching the consensus estimate.
Sales rose to $1.29 billion from $1.12 billion a year earlier, shy of the $1.32 billion Thomson target. The company said same-store sales growth slowed to 11% in 2006 from 13.6% in 2005. Whole Foods said same-store sales rose 6.8% in October, the first month of fiscal 2007. The company said it expects to open 18 to 20 stores this year, including five store relocations.
As a result, Whole Foods expects total pre-opening and relocation costs for fiscal year 2007 to be in the range of $68 million to $74 million, which it called a "significant year-over-year increase." Whole Foods said it expects pre-opening and relocation costs to "significantly impact fiscal-year 2007 diluted-earnings-per-share growth." Shares were trading down $6.18, or 10.3%, to $53.94.
( AVNX) soared after the optical-parts company posted a fiscal first-quarter revenue gain and boosted top-line guidance. The Fremont, Calif.-based photonics outfit lost $10 million, or a nickel a share, compared with the year-ago loss of $17 million, or 12 cents a share. On a pro forma basis, excluding certain costs, the latest-quarter loss was 3 cents a share.
Revenue rose 12% sequentially and 23% from a year ago to $50.9 million. Wall Street was looking for a 2-cent loss on revenue of $49.2 million. Gross margin rose to 9% from 4% a year ago, Avanex said. Avanex said it expects second-quarter revenue of $52 million to $55 million, above the $51.8 million Thomson target. Shares were climbing 17 cents, or 11.2%, to $1.69.
Gemstar-TV Guide International
( GMST) gained after the Los Angeles-based media company reported a drop in third-quarter income, but still beat Wall Street's third-quarter earnings expectations. The company posted income of $17.5 million, or 4 cents a share, including an income tax expense of $2.3 million, compared with net income of $51 million, or 12 cents a share, in the third quarter of 2005, which included a $51.1 million income tax benefit.
Revenue totaled $148.9 million, down from $152.5 million a year ago. Wall Street was looking for income of a penny a share on $135.9 million in revenue. Shares were trading up 20 cents, or 6.1%, or $3.50.
( AQNT) tumbled after the digital marketer missed third-quarter revenue targets and guided toward the low end of 2006 estimates.
The Seattle-based company made $13.6 million, or 16 cents a share, for the quarter ended Sept. 30, up from the year-ago $9.4 million, or 13 cents a share. Revenue rose to $111 million from $79 million a year earlier. Analysts surveyed by Thomson Financial were looking for a 16-cent profit on sales of $113 million. The company said it expects to make 54 cents to 58 cents a share for the year on revenue of $420 million to $430 million. Analysts were looking for 59 cents on $429 million. Shares were falling $4.83, or 16.8%, to $23.87.
tumbled after the Emeryville, Calif.-based educational-toy company swung to a third-quarter loss. The company reported a loss of $49.7 million, or 79 cents a share, compared with earnings of $32.8 million, or 52 cents a share, a year ago. Revenue totaled $184.7 million, down from $242.8 million a year ago. Wall Street was looking for income of 34 cents a share on revenue of $218.3 million.
"Sales declines have been an issue, but let's face it, so has our decision-making process," Jeffrey G. Katz, president and CEO, said in a statement. "As a result, we have made extensive changes to our product and marketing organization." Looking ahead, the company said it expects a loss of $2.00 a share for 2006. Analysts are looking for LeapFrog to report a loss of 42 cents a share. Shares were trading down $1.19, or 12.7%, to $8.18.