plummeted in late trading Tuesday after the maker of digital media tools said its first-quarter results would be below expectations, due to lower-than-expected sales of several of its products.
The company projects revenue of $216 million and $218 million, with net earnings of 2 cents to 5 cents a share. Excluding charges, Avid predicts EPS of 35 cents to 38 cents. Analysts polled by Thomson First Call were looking for earnings of 49 cents a share, before items, on revenue of $230.3 million.
Avid now expects full-year earnings of 95 cents to $1.20 a share. Excluding charges, the company sees earnings of $2.15 to $2.40 a share, with revenue of $940 million to $970 million. Wall Street is looking for earnings of $2.80 a share on revenue of $1.01 billion. Avid is scheduled to announce its first-quarter results on May 4. Shares fell $4.88, or 11%, to $38.57 in after-hours trading.
slipped after the storage networking-equipment company lowered its third-quarter estimates. The company expects to report revenue of $88 million to $89 million for the quarter ended April 2, down from the $106 million to $108 million it had projected in January. The company expects non-GAAP earnings of 20 cents to 21 cents a share, compared with the prior projection of 27 cents to 28 cents. Including all items, Emulex lowered its earnings projection to 10 cents to 11 cents a share from 17 cents to 18 cents a share. Wall Street expects earnings of 27 cents a share and revenue of $107 million. Shares fell 78 cents, or 4.6%, to $16.02 in late trading.
John H. Harland
rose after the company raised its first-quarter and full-year projections. The company, a maker of checks and data-collection products, sees first-quarter EPS of 75 cents to 78 cents, up from the previous guidance of 60 cents to 65 cents a share. For the year, the company raised its forecast to $2.90 to $2.95 share from the previously projected range of $2.73 to $2.78 a share. John H. Harland said the improved guidance was a result of better-than-anticipated results in each of its three segments. The company will release full results on May 3. Shares rose $2.04, or 5.2%, to $41.30 in late trading.
shares tumbled more than 30% after the South Korean chipmaker lowered its first-quarter revenue projection, citing weaker-than-expected sales to certain camera module assembly customers in China. The company expects to post first-quarter revenue of $11.5 million and $12.5 million, down from its previous estimate of $14.7 million. The company also said it will revise unaudited results for the fourth quarter and 2005 to account for the classification of Pixelplus Technology, its Taiwan affiliate, as a consolidate subsidiary. The company said Pixelplus' revenue for the fourth quarter and fiscal 2005 is expected to be reduced by about $3.7 million and $2.5 million, respectively. Shares fell $2.29, or 31%, to $5.01 after hours.
advanced after the medical products company reported a jump in fiscal third-quarter earnings and raised its full-year forecast. The company posted earnings of $4.3 million, or 39 cents a share, compared with $2.9 million, or $27 cents a share, a year ago. Sales for the quarter ended March 4 increased 5% to $32.3 million.
The company boosted its earnings guidance for fiscal 2006 upwards as a result of the tax benefits gained in the third quarter. E-Z-EM still expects sales to range from $135 million to $139 million, but the company now sees earnings of $9.7 million to $10.3 million, compared with a prior forecast of $6.8 million to $7.4 million. Shares advanced 38 cents, or 1.7%, to $23.19 after hours.