Markets & Finance

Goldman Sachs Posts 61% Higher First Quarter Earnings


Goldman Sachs (GS) posts $5.08 vs. $2.94 first quarter earnings per share (EPS) on 61% higher total net revenues. It raises its 25 cents quarterly dividend to 35 cents per share.

Procter & Gamble (PG) sees 59 cents to 61 cents third quarter earnings per share (EPS,) including 7 cents to 10 cents of Gillette dilution; it says sales growth is trending toward the mid-point of its previous 20% to 23% range. It raises its quarterly dividend from 28 cents to 31 cents.

Walt Disney (DIS) and Comcast (CMCSA) are in talks to buy the 40% stake it doesn't own in E! from Disney, as part of an effort to beef up its list of cable networks, according to the Wall Street Journal.

Universal (UVV) says the investigation related to its tobacco units has revealed certain payments may have violated the U.S. Foreign Corrupt Practices Act, and that certain activities may have violated competition laws.

Verint Systems (VRNT) posts a 22% fourth quarter sales rise. It notes that the work of Comverse Technology (CMVT)'s special committee on its stock options does not include a review of Verint's procedures on its stock option program; prior to May 2002, Verint was a wholly-owned unit of Comverse Technology.

McAfee (MFE) promotes Executive Vice President Kevin Weiss to President. It says Chief Financial Officer Eric Brown also takes on additional responsibilities of Chief Operating Officer.

E.W. Scripps (SSP) posts 23% higher February revenue, 23% higher ad revenue, and 22% higher affiliate fee revenue. It notes results exclude the results from its unit Shopzilla.

Alliant Techsystems (ATK) cuts $4.55 to $4.58 fiscal year 2006 EPS guidance to between $3.98 and $4.01. It ups fiscal year 2007 EPS estimates to $44.75 to $4.90 on $3.35 billion sales. It names John Shroyer as Chief Financial Officer. It plans to realign into three business groups: Mission Systems, Launch Systems, and Ammunition Systems.

Harris (HRS) sees fiscal year 2007 EPS of $2.45 to $2.55. It expects organic revenue growth above 10%; including full-year contribution of Leitch Technology, which was acquired in October 2005, its total revenue is expected to be $3.8 billion to $3.9 billion.

Comverse Technology (CMVT) forms a special committee of the Board of Directors composed of outside directors to review matters relating to its stock option grants. It believes certain restatements will likely be required and posts fourth quarter sales of $337.7 million.

ChipMOS Technologies (IMOS) posts 21 cents vs. 5 cents fourth quarter EPS on a 16% revenue rise. Based on current customer forecasts and an exchange rate of NT$32.85 against US$1.00, it expects first quarter revenue of about $127 million to $130 million and gross margin of about 28% to 30%.

Monolithic Power (MPWRE) says revenue for the fourth quarter were $32.5 million vs. the year ago's $14.8 million. It expects first quarter revenue of $24 million to $25 million, about 68% over the same quarter of 2005.

Lone Star Steakhouse (STAR) posts 15 cents vs. 47 cents fourth quarter EPS from continuing operations on a slight decline in same-store sales and total revenue. It notes continued high beef and restaurant operating expenses.

Sonus Networks (SONS) posts 2 cents vs. 2 cents fourth quarter EPS despite a 27% revenue rise.

Centracore Properties Trust (CPV) In an 8-K, says it was not aware of GEO Group's announcement regarding a relationship with CPV yesterday; GEO said it may elect to not excercise the option to renew certain expiring CPV leases.

Medicis Pharmaceutical (MRX) acquires the rights from French drugmaker Ipsen to develop and market the skin-care product Reloxin in the U.S., Canada, and Japan.

International Displaywork (IDWK) posts 4 cents vs. 3 cents first quarter EPS on a 30% revenue rise. It sees $24 million to $30 million second quarter revenue. It also names Joe Bedewi chief financial officer.

A.D.A.M. (ADAM) posts 5 cents fourth quarter loss vs. 7 cents EPS as higher costs and expenses offset a 1.5% revenue rise. It notes fourth quarter revenues were impacted by educational sales that were lower than the year-ago period.

Multimedia Games (MGAM) were seen lower after the Iowa Senate passed a law banning Iowa Lottery's Touch Play machines.


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