Markets & Finance

WR Hambrecht Cuts Neoforma Estimates


WR Hambrecht cut its estimates on Neoforma (NEOF).

Analyst Sean Wieland says supply-chain management company inferred that its weak spot is its non-Novation business, where revenue remains elusive. Neoforma now expects trading partner services and non-Novation marketplace revenue to be down sequentially in the fourth quarter.

Wieland says Novation is contracted to pay Neoforma $17.3 million in the fourth quarter. With tight expense controls, he believes the company can achieve 25 cents fourth-quarter earnings per share, within the original 25 cents to 35 cents guidance range. Wieland cut the $1.24 2003 earnings per share estimate to $1.18, and trimmed the $1.21 2004 estimate to 89 cents. He's keeping his hold rating.


Tim Cook's Reboot
LIMITED-TIME OFFER SUBSCRIBE NOW

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

 
blog comments powered by Disqus