Markets & Finance

Check Point Software Warns of Weaker Revenues


Infocus Corp. (INFS) sees a $0.18-$0.24 Q1 loss (including charges) on revenue of $150M-$155M. S&P maintains hold, and put its estimates under review.

MatrixOne (MONE) sees a $0.09 Q3 loss, at the midpoint of its previously provided range, on revenues at the lower end of $31M-$33M guidance. Stifel reportedly upgraded. SWS Securities reiterates its strong buy rating.

New Century Financial (NCEN) sees Q1 results meeting analysts' estimates, and $4.15-$4.35 2002 EPS vs. the previous $3.90-$4.10 estimate. The company cited strong production levels, and a continued favorable secondary market.

Check Point Software (CHKP) sees $104M-$105M Q1 revenues, and $0.24-0.25 EPS. The company says revenues are weaker than expected due to continued depressed IT spending. S&P maintains accumulate.

Planar Systems (PLNR) sees $0.14-$0.16 Q2 EPS as several non-recurring costs and a product mix changes the company's affected gross margin. AG Edwards cut estimates.

GTECH Holdings (GTK) posted better than expected $0.93 vs. $0.79 Q4 EPS (adjusted) on a 12% revenue rise and raised the $3.15-$3.25 fiscal 2003 prior guidance to the $3.30-$3.40 range. Merrill raised estimates.

Smith & Wollensky (SWRG) posted Q1 sales of $19.5M, 4.5% lower than a year ago, but a sequential improvement from Q4's year over year decline of 16%, and Q3's decline of 27%.

Peet's Coffee (PEET) expects to meet its Q1 EPS estimate of $0.05 on $24.4M revenue. Pet's inked a pact with Safeway, whereby Safeway stores will carry Peet's products.

UBS Warburg downgraded Invacare (IVC) to hold from buy.

Bristol-Myers (BMY) cut Q1 EPS guidance to $0.44-$0.47 EPS from operations on a 7% sales decline; and expects 2002 EPS from operations to fall 25%-30% from 2001's $2.41. H&R Block reportedly downgraded to neutral, Salomon SB cut estimates.

Bed, Bath, Beyond (BBBY) posted $0.28 vs. $0.22 Q4 EPS on 12% higher same store sales.

Knight Trading (NITE) sees a $0.10-$0.12 Q1 loss, which includes international expansion costs of $0.05-$0.07, and a $0.03 non-recurring, non-cash charge for asset write-downs.

USB Piper reportedly downgraded Qualcomm (QCOM) to market perform from outperform.

Dell Computer (DELL) confirmed it is on track to meet Q1 EPS forecasts on better than expected revenue. S&P maintains hold.

Merrill downgraded select US chemical companies, including reducing its rating on DuPont (DD) to near term neutral from buy.

Inktomi (INKT) sees a $0.08-$0.10 Q2 loss (pro forma) on revenue of $30M-$31M, citing the continued deterioration in global technology spending, particularly at carrier and enterprise companies.

Great Atlantic & Pacific (GAP) posted $0.20 Q4 EPS from ongoing operations vs. a $0.28 loss on flat same store sales.

Nova Chemicals (NCX) declared a "force majeure" on its supply of expandable polystyrene, solid polystyrene, and styrene monomer produced in Europe, explaining that it should be excused from meeting its supply obligations because of a power outage last month.

CompuWare (CPWR) sees lower than expected $0.07-$0.08 Q4 EPS from operations on revenue of $400M-$408M. S&P cut estimates.

Guess (GES) posted 6% higher March same store sales, and 9.3% higher total sales. Guess notes while March sales benefited from the early Easter holiday, April sales will be negatively impacted.


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