Markets & Finance

Dell Sees Lower Earnings Than Forecast


From Standard & Poor's Equity Research

Microsoft (MSFT) posts 28 cents vs. 34 cents fourth quarter EPS despite a 16% revenue rise. It sets a $20 billion tender offer, and an additional $20 billion buyback. It sees $10.6 billion to $10.8 billion first quarter revenue and 30 cents to 32 cents EPS, as well as $49.7 billion to $50.7 billion fiscal year 2007 revenue and $1.43 to $1.47 EPS.

Dell (DELL) sees lower-than-expected 21 cents to 23 cents second quarter EPS on $14 billion revenue. It says the forecast reflects aggressive pricing in a slowing commercial market worldwide.

Google (GOOG) posts $1.97 vs. $1.36 second quarter earnings per share (EPS) (Generally Accepted Accounting Principles) on a 77% revenue rise. It expects the capex growth rate in 2006 to be substantially greater than the revenue growth rate.

Advanced Micro Devices (AMD) posts lower-than-expected 18 cents vs. 3 cents second quarter EPS on a 53% sales rise. It says sales fell short of its estimate.

RadioShack (RSH) posts 2 cents loss vs. 33 cents EPS on a 3% same-store sales drop. It notes lower sales of wireless and co.-operated stores, costs from its turnaround plan, related restructuring activities, and settlement of class action lawsuits.

Eli Lilly (LLY) posts 76 cents vs. 67 cents EPS in the third quarter (excluding product liability charge) on a 5.4% sales rise. It sees 77 cents to 79 cents third quarter EPS. It also sees 2006 sales growth at the low end of the previous 7%-9% guidance. It continues to see $3.10 to $3.20 2006 EPS.

Chartered Semiconductor Manufacturing (CHRT) posts a breakeven second quarter vs. 3 cents loss on an 88% revenue rise. It sees third quarter Chartered revenues essentially flat, with revenues including its share of SMP to be slightly down vs. the second quarter. It also sees 3 cents third quarter EPS (basic), plus or minus 2 cents.

Cerner(CERN) posted 29 cents vs. 25 cents second quarter EPS (GAAP) on a 19% revenue rise. The company sees 31 cents to 32 cents third quarter EPS and $1.21-$1.22 EPS for all of 2006. Raymond James upgrades to outperform from market perform.

Informatica (INFA) posted 14 cents vs. 9 cents second quarter EPS (non-GAAP) on 26% higher revenues. The company notes license revenues rose 31%. S&P raises estimates, keeps hold.

North Fork Bancorp (NFB) posted 48 cents vs. 51 cents second quarter EPS despite 3% higher net interest income. S&P maintains hold.

Cognos (COGN) posts 16 cents vs. 22 cents first quarter EPS (GAAP) as higher operating costs offset an 8.4% revenue rise. It sees 16 cents to 20 cents second quarter EPS amid revenue of $220 million to $228 million.

Schlumberger (SLB) posts 69 cents vs. 40 cents second quarter EPS on a 37% revenue rise.

Broadcom (BRCM) reports second quarter revenue of $941.1 million, a 56% year over year increase. It also says second quarter results haven't been finalized due to an ongoing options review.

F5 Networks (FFIV) expects to record additional charges and will restate results for fiscal year 2001 to fiscal year 2005, as well as the first two quarters of fiscal year 2006 due to the identification of options backdating. It reports $100.1 million third quarter revenue and sees $104 million to $106 million fourth quarter revenue.

PMC-Sierra (PMCS) posts second quarter loss of 15 cents vs. breakeven (GAAP) despite a 66% revenue rise.

Capital One Financial (COF) posts $1.78 vs. $2.03 second quarter EPS; the managed charge-off rate fell to 2.75%, amid a $90 million loan loss allowance increase on higher loan balances and continued credit quality deterioration in the U.K.


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