reported a 25.5% drop in third-quarter earnings after the bell Wednesday, but the Calabasas, Calif.-based homebuilder still beat Wall Street's expectations. The company posted income of $87.9 million, or $1.97 a share, compared with $118 million, or $2.39 a share, a year ago.
Revenue dropped 9.8% to $1.1 billion, as home closings fell 15% to 3,688 units. Analysts polled by Thomson First Call were looking for earnings of $1.77 a share on revenue of $1.11 billion. Ryland said it repurchased 1.85 million shares, or 4.2% of its stock, in the quarter. The company reaffirmed its earnings forecast of $7.75 to $8.25 a share for the fiscal year ending Dec. 31. Wall Street is looking for earnings of $7.54 a share.
stumbled after the Fort Lauderdale, Fla.-based software and services company beat Wall Street's bottom-line forecast by a penny, but missed on revenue. Citrix earned $46.6 million, or 25 cents a share, rising from $41 million, or 23 cents a share in the same quarter last year. Excluding some items, the company earned $64.8 million, or 34 cents a share, up from $52.2 million, or 29 cents a share a year ago. On that basis, the company beat the consensus estimate of 33 cents a share. Revenue totaled $277.9 million, growing from last year's $226.9 million in the same quarter. That figure fell short of the $280.9 million analysts' target.
Looking ahead to the final quarter of the year, the infrastructure software and services company expects to earn between 27 cents and 28 cents a share. Excluding items, the company said it would earn between 37 cents and 38 cents a share, at or above the Thomson First Call consensus of 37 cents. Sales will range from $307 million to $315 million, compared wth the analyst forecast of $308.8 million.
For the full year, the company expects to earn $1 to $1.01 a share; the non-GAAP EPS should be in the range of $1.37 to $1.38, better than the average analyst prediction of $1.36. Revenue will be between $1.12 billion and $1.128 billion, in line with the $1.12 billion analysts' target. Shares sank 11%, or $3.86, to $31.20.
surged after the Eden Prairie, Minn.-based nanotechnology products company posted a boost in second-quarter earnings. The company posted income of $1.28 million, or 27 cents a share, compared with $363,968 or 8 cents a share, a year ago. Revenue increased 44% to $4.4 million. Shares gained $3.23, or 10.1%, to $35.10.
soared after the Tarrytown, N.Y.-based biotechnology company scored an eye disease partnership with
. Bayer and Regeneron will collaborate on the development of the VEGF Trap-Eye through an integrated global plan that encompasses the neovascular form of age-related macular degeneration, diabetic eye diseases and other eye diseases and disorders. The deal covers the global development, and commercialization outside the U.S., of the VEGF Trap for the treatment of eye disease by local administration.
The VEGF Trap-Eye, currently in Phase I and Phase II clinical trials, is a protein that binds to or "traps" vascular endothelial growth factor (VEGF) and blocks its activity. The companies will jointly commercialize the VEGF Trap-Eye outside the U.S and will share equally in profits from ex-U.S. sales. Within the U.S., Regeneron has exclusive commercialization rights in all indications and will retain 100% of all profits from any such sales. Bayer will make an upfront payment of $75 million to Regeneron.
Regeneron can earn up to $110 million in total development and regulatory milestones and marketing approvals in a major market countries outside the U.S. A total of $40 million of these milestone payments are due upon the initiation of Phase 3 clinical trials in wet AMD and diabetic macular edema. Regeneron can earn up to $135 million in sales milestones when total annual sales of the VEGF Trap-Eye outside the U.S. achieve certain specified levels starting at $200 million. Shares gained $2.07, or 11.6%, $19.95.