reported a loss of $202,000, or 3 cents a share, for the fourth quarter ended Aug. 31, reversing a year-earlier profit of $559,000, or 7 cents a share. Revenue for the quarter declined to $11.5 million from $12.5 million last year. The company said its results were hurt by a delayed order and
recent bankruptcy filing, as the auto-parts company represented almost 12% of RF Monolithics' sales. The maker of wireless frequency systems thus recorded $135,000 in additional reserves for the quarter. The company's stock fell $1.01, or 16.4%, to $5.14 in after-hours trading.
said it named Marianne Parrs executive vice president and chief financial officer, effective immediately. Parrs joined the company in 1974 and once served as interim CFO. "She has been at the center of our strategic planning and decision making, which makes her the ideal person to take the CFO role as we execute our transformation strategy," said John Faraci, IP's chairman and chief executive. The stock was unchanged at $27.15.
announced that it received three competitively procured contracts totaling $15.4 million for services provided to U.S. Marine Corps and Navy programs. The first is a five-year, $7.5 million contract in which EDO will support the Marine Corps Joint Concept Development and Experimentation office; the second is a $3.6 million design and engineering contract supporting the Marine Corps Logistics Command and Control component of the Marine Corps Global Combat Service Support System; and the third is a four-year $4.3 million contract renewal that includes participation in the Navy's Flying Hour Program. EDO was unchanged at $28.27.
said it earned $2.6 million, or 12 cents a share, for the third quarter, up from $1.7 million, or 8 cents a share, a year ago. The provider of business strategy and proposal development services reported a 22% increase in quarterly revenue to $19.7 million from $16.1 million last year. Analysts expected a profit of 11 cents a share, according to First Call. Looking ahead, SM&A expects full-year net income of 45 cents to 47 cents a share on revenue of $80 million. The stock rose 6 cents to $8.97.
Bank of America
said it agreed to sell its asset-management business in Mexico to Grupo Financiero Santander Serfin, a subsidiary of Madrid-based
. Financial terms of the deal weren't disclosed. The transaction is expected to close by the end of the first quarter 2006. BofA said it decided to sell the Mexican asset management business it did not have enough synergies with the company's investment banking and cash management businesses in Mexico. The stock was unchanged at $42.
American Access Technologies
announced preliminary third-quarter sales of $2.4 million, a 23% increase over last year's sales of $1.9 million. The company attributed the revenue rise to solid execution in its marketing plan, production from its new laser cutting machine, and the adoption of industry standards for zone cabling and wireless products. The stock was up 11 cents, or 5.8%, to $2.01 after hours.
lowered its third-quarter estimates due to slower-than-expected sales growth. The company now expects to earn 43 cents a share on sales growth of 3%, compared with its previous forecast for earnings of 47 cents a share on sales growth of 8%. Waters said this latest earnings forecast excludes a tax provision of $24 million related to the American Jobs Creation Act. Waters said this tax provision will cut reported EPS to around 21 cents. The stock was down 88 cents, or 2.1%, to $40.50 in after-hours trading.
said John McLeod has resigned as chief operating officer, effective Nov. 6. "The company is now well-positioned as the service provider of choice to enterprises and carriers, and therefore I have decided that it is the appropriate time for me to pursue new professional challenges," said McLeod in a statement. Broadwing said its executives will continue to have direct responsibility for the operational units they lead. The stock dropped 33 cents, or 6.5%, to $4.75 in after-hours trading.
announced it will acquire privately held Great Eastern bank in a transaction valued at $103.6 million. Great Eastern, headquartered in New York City, had assets of $309.9 million and deposits of $278 million, as of June 30. Under the terms of the agreement, Great Eastern Bank will be merged into UCBH's subsidiary UCB for a $51.8 million in cash and the issuance of 2.9 million shares of UCBH common stock valued at approximately $51.8 million. UCBH rose 2 cents to $16.89.