Markets & Finance

HP Posts Higher Earnings and Sets $6 Billion Buyback


From Standard & Poor's Equity Research

Hewlett-Packard (HPQ) posts 52 cents vs. 36 cents third quarter earnings per share (EPS) (non-Generally Accepted Accounting Principles) on a 5% revenue rise. It sets a $6 billion buyback plan. It also sees 61 cents to 63 cents fourth quarter non-GAAP EPS on about $24.1 billion revenue, and $2.31 to $2.33 fiscal year 2006 EPS.

Intuit (INTU) says based on findings of independent review, Intuit does not anticipate any restatement of its previously filed financial statements.

Barnes & Noble (BKS) posts 24 cents (including stock compensation expense) vs. 18 cents second quarter EPS despite a 2.6% same-store sales drop and 1% total sales drop. It sees $2.20 to $2.30 2006 EPS (including stock compensation expense).

CDC (CHINA) says its China.com Inc. unit formed a partnership with Google (GOOG), whereby Google will provide search engine technology for China.com to support searches of its English and traditional Chinese content by its users in Greater China.

Blue Coat Systems (BCSI) posts first quarter revenue of $36.2 million, or an 8.4% year over year increase. It sees second quarter revenue of $37 million to $38 million, before impact of the acquisition of its NetCache business. It says a stock option review is ongoing and delays filing of its 10-K.

Limited Brands (LTD) posts 28 cents vs. 20 cents second quarter EPS on 5% higher same-store sales and 7.1% higher total sales. It sees third quarter EPS roughly flat vs. the year ago's breakeven. It also sees $1.55 to $1.65 fiscal year 2007 EPS.

New York & Co (NWY) posts 11 cents vs. 21 cents second quarter EPS on 4.0% lower same-store sales and 4.0% higher net sales. It also sees 10 cents to 14 cents third quarter EPS. It cuts $1.203 billion to $1.222 billion fiscal year 2007 net sales guidance to between $1.198 billion and $1.218 billion, and still sees 70 cents to 82 cents fiscal year 2007 EPS.

Sears Holdings (SHLD) posts $1.88 vs. 98 cents second quarter EPS (including items) on 3.8% lower domestic same-store sales and 3.1% lower total revenues.

Elizabeth Arden (RDEN) posts 7 cents fourth quarter loss vs. 16 cents loss (including items) on 1.5% higher net sales. It sees $1.10 to $1.20 fiscal year 2007 EPS (including items) on $1.10 billion to $1.13 billion net sales.

Network Appliance (NTAP) posts 14 cents vs. 16 cents first quarter EPS (GAAP) as stock option expense and higher operating expenses offset a 39% revenue decline. It sees second quarter revenue growth of 2.5% to 4% quarter over quarter and 32% to 34% year over year, as well as GAAP EPS of 13 cents to 16 cents.


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