( NT) lowered its fourth-quarter revenue guidance but said its loss for the period would be slightly narrower than expected. The company also said the size of an existing credit agreement was reduced. The network equipment maker now expects revenue of $3.4 billion in the quarter, about $140 million less than the consensus forecast of analysts surveyed by First Call. The company said it expects a pro forma loss from continuing operations of 16 cents a share in the period and a loss from continuing operations of 63 cents a share. Analysts polled by First Call were expecting a loss of 18 cents a share, excluding goodwill amortization. Nortel and its lenders agreed to new terms on the company's 364-day credit agreement entered June 2001. Under the amendments, the committed facility was reduced to $1.575 billion from $2 billion and is subject to new covenants.
said second-quarter earnings rose 8% on strong results in Europe and Asia. The sportswear giant earned 48 cents a share in the quarter, 2 cents higher than analysts' forecast, and predicted continued growth for the full year. Nike shares were up $1.99 to $59.77.
raised its second-quarter guidance, citing stronger revenues and unit shipments, as well as higher profitability due to increased demand for its products. The computer drive maker said it now expects second-quarter earnings of 4 cents a share, topping Wall Street's estimate of a penny a share, according to Thomson Financial/First Call. The company also expects second-quarter revenue to be $540 million to $550 million, up from the previous forecast of $490 million to $520 million.
( ARBA) shares were trading up after
agreed to offer the company's business-to-business purchasing software over the Internet as a pay service. The Quick Start software allows businesses to purchase supplies and other basic goods from suppliers at lower costs and more quickly than traditional methods.
Strong demand for personal computer and gaming parts led
( ICST)to raise its fiscal second-quarter revenue forecast. The Valley Forge, Pa., company sees revenue sequentially rising between 5% and 10% in the quarter, which ends Dec. 29. It had previously seen revenue rising only 5%.
posted an 80% revenue increase and had a narrower-than-expected loss in its second quarter on strong demand for its interactive TV software. The San Carlos, Calif., company said it lost $6.3 million, or 6 cents a share, on a pro forma basis in the quarter ended Nov. 30. Analysts had been forecasting a pro forma loss of between 8 and 10 cents a share. Second-quarter revenues were $21 million.
Citing reduced spending by oil companies,
cut earnings guidance for the fourth quarter and the coming fiscal year. The Houston petroleum consultant said it expects to earn 18 cents to 22 cents a share in the fourth quarter; analysts were expecting it to earn 26 cents a share. Sales will be about $90 million. For next year the company now expects to earn between 86 cents and 90 cents a share on revenues of $350 million to $370 million, also below previous estimates.
posted a smaller-than-expected loss in its third quarter and predicted the same thing will happen in the fourth.Excluding numerous items, the manufacturing software maker lost $7.6 million, or 11 cents a share, in the third quarter on revenues of $68.7 million, down from $70 million a year ago. Software revenues were $22.1 million in the third quarter, down from $35.8 million a year ago. Analysts had been expecting a loss of 16 cents a share. For the fourth quarter the company expects an adjusted pro forma loss of between 5 and 7 cents a share; analysts were expecting a loss of 10 cents a share.