Markets & Finance

Genentech Posts Higher Earnings


Genentech (DNA) posted 29 cents, vs. 19 cents first-quarter earnings per share on 50% higher operating revenue and 55% higher total product sales. The company posts Avastin U.S. sales of $675.9 million, which is below some Street estimates. It expects 2005 earnings per share growth of greater than 30%.

FLIR Systems (FLIR)

shares dropped Tuesday after the company said it sees first quarter EPS of 18 cents to 20 cents on revenue of about $108 million. FLIR cited a slowdown in its Imaging business. JP Morgan and Thomas Weisel cut estimates.

Travelzoo (TZOO) shares dropped after the company posted lower-than-expected firsat quarter EPS of 10 cents, vs. 5 cents, on a 74% revenue rise. Legg Mason reiterates sell.

Citigroup upgraded TiVo (TIVO) to buy from hold. The shares moved higher Tuesday. The company was unavailable for comment.

BMC Software (BMC) sees lower-than-expected fourth-quarter revenue of $388 million to $400 million, and earnings per share of 8 cents to 12 cents. The company sets a restructuring plan, which includes a staff reduction of about 12% of the total workforce. S&P maintains hold.

SpectraLink (SLNK) sees lower-than-expected first-quarter revenue of about $20.6 million due to unexpected weakness in OEM and major reseller channels. The company sees about 11 cents earnings per share, in line with plans due to higher-than-expected gross margins and cost controls.

Abbott Laboratories (ABT) posted 53 cents, vs. 52 cents first-quarter earnings per share on a 16% sales rise. The company sees 56 cents to 58 cents second-quarter operating earnings per share. The company maintains $2.47 to $2.53 2005 earnings per share guidance, excluding one-time charges and the effect of new accounting rules to expense stock options.

The U.S. Consumer Product Safety Commission announced Nautilus (NLS) is to pay a $950,000 civil penalty to settle allegations that it failed to give CPSC timely reports on serious injuries and safety defects with Bowflex fitness machines.

Carrier Access (CACS) sees first-quarter revenue of $12.3 million to $12.5 million. The company sets a 5 million share buyback. Janney Montgomery reportedly downgrades to neutral from buy.

Celgene (CELG) reports North American and International Multiple Myeloma Phase III trials confirm significant clinical benefit for patients treated with Revlimid plus dexamethasone.

Due to continuing strong sales, Black & Decker (BDK) sees 15% first-quarter sales growth, excluding foreign exchange and acquisitions. The company raises $1.05 to $1.10 first-quarter earnings per share (continuing operations) forecast to $1.33 to $1.35. It is comfortable with $1.67 analysts' second-quarter mean earnings per share estimate.

Ameritrade (AMTD) posted 17 cents, vs. 19 cents second-quarter earnings per share on a 5.8% net revenue drop. The company notes a slowdown in trading activity. It tightens its fiscal 2005 earnings per share forecast range to 77 cents to 87 cents.

Dusa Pharmaceuticals (DUSA) announces end-users Kerastick sales to physicians totaled 28,704 in the first-quarter, up 107% in the U.S. and up 138% overall, vs. fiscal 2004.

BioSource International (BIOI) board unanimously rejects an unsolicited proposal from Bio-Rad Labs to acquire all of BioSource's outstanding shares at $8.50 per share cash.

Noland (NOLD) agrees to be acquired by WinWholesale. Terms of the agreement give $74 cash for each Noland share.


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