slipped to 58 1/2 in after-hours trading from a close of 60 1/2 after the chip maker said its second-quarter revenue may be flat to slightly lower than the first quarter's just-reported $7.1 billion due to seasonal factors. The company also posted first-quarter earnings of 57 cents a share, 2 cents higher than the 33-analyst
forecast and above the year-ago 36 cents. Revenue for the first quarter rose to $7.1 billion from $6 billion a year ago, but missed a target of $7.4 billion.
Among other big-name earnings reports,
announced a first-quarter profit of 28 cents a share, topping the 27-analyst outlook by 4 cents and moving ahead of the year-ago 23 cents. The company also said it may beat analysts' sales and earnings expectations in the second quarter. The stock lifted to 83 3/8 in after-hours trading from a close of 82 5/16.
met analysts' expectations with a first-quarter operating loss of 7 cents a share vs. the year-ago loss of 10 cents. The company reported revenue of $25.1 million, a 31% increase over revenue of $19.2 million in the fourth quarter. The operating loss excludes the cost of distribution agreements, merger and acquisition related costs, and investment gain from a business combination was $8.9 million, compared with a loss of $7.6 million, or 6 cents, last quarter. Including the charges, @Home lost $18.1 million, or 15 cents, in the most recent quarter.
Among the highlights of the quarter: The Redwood City, Calif.-based company's cable modem subscriber base grew to 460,000 homes, an increase of 39% from 331,000; the number of homes with access to two-way upgraded plant increased to 15 million from 13.2 million; and the company continued to demonstrate strong potential as an advertising platform by signing up 33 new blue-chip consumer accounts including
Federated Department Stores
Spencer E. Ante
In other postclose news (earnings estimates from First Call; earnings reported on a diluted basis unless otherwise specified):
Earnings/revenue reports and previews
Internet portal company
reported a loss, as expected, for the company's second quarter ending April 3.
Infoseek reported a pro forma loss of $24.1 million, or 39 cents a share, on revenue of $29.6 million. The nine-analyst estimate predicted a loss of 41 cents a share.
The current quarter's figures compare to a loss of $1.8 million, or 6 cents a share, on revenues of $14.5 million in the quarter ending March 31, 1998 -- well before
investment in Infoseek and the launch of Infoseek's new portal, the
Actual net losses for the most recent quarter, including amortization of intangible assets and charges related to in-process research and development, amounted to $56.8 million, or 93 cents a share.
The company said in the coming quarter it expects to launch areas for auctions and streaming audio and video on the GO Network.
Infoseek stock rose to 80 3/16 in after-hours trading from a close of 79 1/2.
clarified some earlier comments by CEO Lewis Platt. Platt said he expected double-digit revenue growth in 1999, but he was talking about worldwide unit sales of PCs, not overall revenue growth. The company sees overall revenue growing at 6% to 8%, in line with analysts' expectations.
said it sees third-quarter revenue coming in flat with the year-ago period and that it expects to post a quarter loss. The three-analyst estimate called for earnings of 2 cents a share vs. the year-ago loss of 3 cents.
warned that it expects to report a first-quarter loss of 54 cents to 56 cents a share, including charges of 33 cents to 35 cents for restructuring and severance. The three-analyst view called for a break-even quarter vs. the year-ago profit of 3 cents. The company has retained
Hambrecht & Quist
to weigh whether it should split into two separate companies. Inprise also appointed Dale Fuller interim president and CEO, replacing Delbert Yocam. Yocam was asked to leave March 31 because of "philosophical differences regarding the company's growth strategy." The company is seeking a new CFO, as CFO Kathleen Fisher also was asked to step down March 31.
said it sees second-quarter earnings meeting or exceeding the 30-analyst outlook for 15 cents a share. In the year-ago period, the company made 14 cents.
warned it expects to record a first-quarter operating loss, with revenue down 10% from year-ago period. The two-analyst outlook called for earnings of 3 cents a share vs. the year-ago profit of 5 cents.
said it will meet the nine-analyst prediction for first-quarter earnings of 21 cents a share vs. the year-ago 18 cents.
In other earnings news:
Mergers, acquisitions and joint ventures
said it agreed to acquire privately held
for up to $340 million in stock and cash and that it expects the purchase to boost earnings in 2000.
Offerings and stock actions
set a buyback of up to 5%, or 455,000, of its outstanding shares.
said it will spin off its Lanier Worldwide office equipment unit to shareholders to try and focus on its communications equipment business. As part of the reorganization, the company will cut 300 to 400 jobs and expects annual savings of $20 million to $30 million.
inked a five-year marketing deal with
, a unit of
. The companies said the deal could mean $200 million in revenue for priceline.com and millions of new accounts for First USA.
Starwood Hotels & Resorts
told analysts it's in talks with European hoteliers to expand three of its six brands.