Thursday's Biggest Stock Decliners
NATCO Group (NYSE:NTG - News) shares fell after the company said it now sees earnings of $2.30 to $2.50 a share in fiscal 2007 on revenue of between $560 million and $580 million. Wall Street's consensus view is for a profit of $2.55 a share for the year.
NCI Building Systems (NYSE:NCI - News) shares fell after the Houston-based maker of metal products for the nonresidential building industry reported fiscal first-quarter net earnings of $10.5 million, or 49 cents a share, down from $12.9 million, 62 cents a share, in the year-ago period. Revenue rose to $359.3 million from $293.3 million. Analysts polled by Thomson Financial were expecting a per-share profit of 53 cents on revenue of $347.6 million. The company forecast fiscal second-quarter net earnings of 50 cents to 55 cents a share, and 2007 earnings of $4.55 to $4.80 a share. Analysts are looking for a second-quarter per-share profit of 89 cents and a 2007 per-share profit of $4.56.
Northwest Airlines Corp.'s (Other OTC:NWACQ.PK - News)loss for December 2006 was $30 million, on revenue of $967 million in the month, the airline operator said in a monthly statement with the bankruptcy court. For January, Northwest's loss grew to $349 million, mostly from a $307 payment for a claim to Pinnacle Airlines (NasdaqGM:PNCL - News). In January, the Eagan, Minn.-based Northwest said revenue fell to $892 million. Northwest, which filed for Chapter 11 reorganization in September 2005, is awaiting a March 26 hearing for court approval of its bankruptcy-exit plan.
Nortel Networks (NYSE:NT - News) said it would delay the filing of its 2006 annual report, and that it will need to restate results for 2004, 2005 and the first nine months of 2006. The Toronto telecommunications equipment company said it had found errors through discussions with its pension actuaries, and through its efforts to correct internal control deficiencies. The company expects the restatement to increase earnings for the first nine months of 2006 by $15 million and revenue by $24 million. Net losses should increase by $87 million for 2005 and by $42 million for 2004.
Pacific Ethanol Inc. (NasdaqGM:PEIX - News) reported a fourth-quarter loss of $3.1 million, or 11 cents a share, narrower than the prior year's loss of $5.1 million, or 18 cents a share. The Sacramento, Calif.-based marketer and producer of ethanol generated quarterly revenue of nearly $80.6 million, up from $36.1 million in the final three months of 2005. The company paid preferred stock dividends of nearly $1.1 million in the latest quarter; no such dividends were paid in the year-ago period. There were some 37% more weighted average shares outstanding in the 2006 fourth quarter than a year earlier. Pacific Ethanol said gross profit jumped to about $11.7 million in the latest quarter, up from $1.3 million a year earlier, as gross margin widened to 14.6% from 3.7%. The company also said its Boardman, Ore., plant is on schedule for completion by the end of the second quarter.
PetSmart Inc. (NasdaqGS:PETM - News) said that fourth-quarter net earnings climbed to $76.9 million, or 56 cents a share, compared with $70.9 million, or 50 cents a share, for the same period a year ago. Sales were $1.17 billion vs. last year's $1.05 billion, the company said in a press release after the close.
PICO Holdings (NasdaqGM:PICO - News) said it's agreed to sell about 2.823 million new common shares for $37 each. The La Jolla, Calif., company anticipates net proceeds of about $100.2 million from the offering.
Plug Power (NasdaqGM:PLUG - News) posted a fourth-quarter loss of $13.3 million, or 15 cents a share, narrower than a year-ago loss of $16.5 million, or 19 cents a share.
Pride International (NYSE:PDE - News) reported fourth-quarter earnings of $68.9 million, or 40 cents a share, up from a year-ago profit of $40.6 million, or 24 cents a share. The latest results include expenses of 8 cents a share related to the early termination of certain relationships with rigs in Brazil, a charge of 2 cents a share from an ongoing investigation by the company's audit committee, and a charge of a penny per share related to the impairment of certain rigs. Revenue rose 21% in the three months ended Dec. 31 to $669.2 million from $551 million in the same period a year earlier. The average estimate of analysts polled by Thomson Financial was for a profit of 48 cents a share in the December period. Looking ahead, the Houston-based drilling contractor said it expects earnings of 57 to 60 cents a share in the first quarter. Wall Street's current consensus estimate is for a profit of 64 cents a share in the March period. Pride said the outlook reflects current softness in the U.S. Gulf of Mexico market.
Restore Medical (NasdaqGM:REST - News) shares dropped after the company posted sales of $1.1 million for the fourth quarter, down from $1.6 million in the same period a year earlier. RBC Capital Markets lowered its rating on the stock to sector perform from outperform, citing the sales decline. The firm also cut its price target on shares of the St. Paul, Minn., maker of a sleep apnea treatment to $5 from $7.
Sears Holding Corp. (NasdaqGS:SHLD - News) reported a jump in fourth quarter profit Thursday as higher margins helped offset sagging same-store sales and flat overall revenue. Sears earned $820 million, or $5.33 a share, on the period - up from $648 million, or $4.03 a share in the fourth quarter of the previous year. Revenue came in at $16.3 billion, up from $16.1 billion, with the help of an extra week in the most recent quarter. Domestic same-store sales -- those at stores open more than a year -- declined 3.1% with Sears down 4.9% and Kmart off 0.9%. The average estimate of analysts polled by Thomson Financial had been for the company to earn $5.18 a share on revenue of $15.95 billion.
Smithfield Foods (NYSE:SFD - News) said fiscal third-quarter net income slipped to $60.4 million, or 54 cents a share, from $71 million, or 63 cents a share. The pork and beef producer attributed 4 cents a share of this year's third quarter net income to a lower estimate of its annualized income tax rate. Last year's results include an after-tax loss from discontinued operations of 4 cents a share. Sales rose to $3.28 billion from $2.93 billion. Analysts, on average, expected it to earn 51 cents a share on revenue of $3.15 billion, according to Thomson Financial. The Smithfield, Va.-based company said the rise in corn and other grain prices will have a "significant" impact on the business.
Sonus Networks Inc. (NasdaqGS:SONS - News) said fourth-quarter revenue was $79 million. The Chelmsford, Mass., maker of voice and data communications hardware and software didn't report earnings because it hasn't completed its restatement of certain financial reports. Sonus said the audit committee completed its investigation of the company's stock option practices and accounting, and found no improper conduct or violation of company policies by any member of management.
Southwestern Energy Co. (NYSE:SWN - News) reported fourth-quarter net earnings of $33.8 million, or 20 cents a share, down from $48.9 million, or 29 cents a share, a year ago. Revenue for the three months ended Dec. 31 slipped to $214 million from $220 million a year ago.
Staples Inc. (NasdaqGS:SPLS - News) reported net income of $336.5 million, or 46 cents a share, for the fourth quarter ended Feb. 3, up from $276.7 million, or 37 cents, earned in the same period a year earlier. Quarterly sales reached $5.29 billion from $4.46 billion for the office-products retailer, which said it generated $370 million in sales during an extra week in the latest quarter. Analysts, on average, had been looking for Staples to earn 45 cents a share on revenue of $5.19 billion for the latest quarter, according to estimates compiled by Thomson Financial. As for the current year, Staples is forecasting profit growth of 15% to 20% on an adjusted basis, equating to a range of $1.43 to $1.49 a share; analysts' average view stands at $1.49 a share.
Steven Madden Ltd.'s (NasdaqGS:SHOO - News) fourth-quarter net income rose to $10 million, or 45 cents a share, from $7.44 million, or 34 cents a share, a year ago. A Thomson Financial survey of analysts, on average, predicted earnings of 44 cents a share for the quarter. Analysts' estimates usually exclude items. The Long Island City, N.Y., fashion footwear maker's net sales rose 25% to $114.1 million from $91.4 million a year ago. Steven Madden expects first-quarter earnings of 40 cents to 43 cents a share on sales that are flat with the same period last year, due in part to weaker-than-anticipated performance in boots in both wholesale and retail and sports fusion product in Steve Madden Men's, and Betsey Johnson handbags in Daniel M.
St. Mary Land & Exploration Co. (NYSE:SM - News) said President Tony Best was named to additional position of chief executive, effective Feb. 23.
Take-Two Interactive Software (NasdaqGS:TTWO - News) reported a net loss for the 2006 fiscal year on Wednesday afternoon. For the year ended Oct. 31, the video game publisher said net loss came in at $184.9 million, or $2.60 per share, compared with earnings of $35.3 million, or 50 cents a share, for the previous year. Revenue for the year was $1.04 billion compared to $1.2 billion the previous year.
Universal Health Services Inc.'s (NYSE:UHS - News) fourth-quarter net income more than doubled to $34.2 million, or 63 cents a share, from $12.3 million, or 23 cents a share, a year earlier. The King of Prussia, Pa., hospital operator's revenue grew to $1.07 billion from $967.2 million.
Viacom Inc.'s (NYSE:VIA - News) fourth-quarter earnings more than tripled to $480.8 million, or 69 cents a share, from $129.5 million, or 17 cents a share, a year earlier, as filmed entertainment revenue doubled to $1.57 billion. The company had adjusted earnings from continuing operations of 65 cents a share, compared with 37 cents a share a year earlier. The New York media company said Thursday that total revenue rose 32% to $3.59 billion from $2.72 billion a year earlier. Analysts polled by Thomson Financial, on average, expected earnings of 58 cents a share on revenue of $3.15 billion.
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NCI Building Systems (NYSE:NCI - News) shares fell after the Houston-based maker of metal products for the nonresidential building industry reported fiscal first-quarter net earnings of $10.5 million, or 49 cents a share, down from $12.9 million, 62 cents a share, in the year-ago period. Revenue rose to $359.3 million from $293.3 million. Analysts polled by Thomson Financial were expecting a per-share profit of 53 cents on revenue of $347.6 million. The company forecast fiscal second-quarter net earnings of 50 cents to 55 cents a share, and 2007 earnings of $4.55 to $4.80 a share. Analysts are looking for a second-quarter per-share profit of 89 cents and a 2007 per-share profit of $4.56.
Northwest Airlines Corp.'s (Other OTC:NWACQ.PK - News)loss for December 2006 was $30 million, on revenue of $967 million in the month, the airline operator said in a monthly statement with the bankruptcy court. For January, Northwest's loss grew to $349 million, mostly from a $307 payment for a claim to Pinnacle Airlines (NasdaqGM:PNCL - News). In January, the Eagan, Minn.-based Northwest said revenue fell to $892 million. Northwest, which filed for Chapter 11 reorganization in September 2005, is awaiting a March 26 hearing for court approval of its bankruptcy-exit plan.
Nortel Networks (NYSE:NT - News) said it would delay the filing of its 2006 annual report, and that it will need to restate results for 2004, 2005 and the first nine months of 2006. The Toronto telecommunications equipment company said it had found errors through discussions with its pension actuaries, and through its efforts to correct internal control deficiencies. The company expects the restatement to increase earnings for the first nine months of 2006 by $15 million and revenue by $24 million. Net losses should increase by $87 million for 2005 and by $42 million for 2004.
Pacific Ethanol Inc. (NasdaqGM:PEIX - News) reported a fourth-quarter loss of $3.1 million, or 11 cents a share, narrower than the prior year's loss of $5.1 million, or 18 cents a share. The Sacramento, Calif.-based marketer and producer of ethanol generated quarterly revenue of nearly $80.6 million, up from $36.1 million in the final three months of 2005. The company paid preferred stock dividends of nearly $1.1 million in the latest quarter; no such dividends were paid in the year-ago period. There were some 37% more weighted average shares outstanding in the 2006 fourth quarter than a year earlier. Pacific Ethanol said gross profit jumped to about $11.7 million in the latest quarter, up from $1.3 million a year earlier, as gross margin widened to 14.6% from 3.7%. The company also said its Boardman, Ore., plant is on schedule for completion by the end of the second quarter.
PetSmart Inc. (NasdaqGS:PETM - News) said that fourth-quarter net earnings climbed to $76.9 million, or 56 cents a share, compared with $70.9 million, or 50 cents a share, for the same period a year ago. Sales were $1.17 billion vs. last year's $1.05 billion, the company said in a press release after the close.
PICO Holdings (NasdaqGM:PICO - News) said it's agreed to sell about 2.823 million new common shares for $37 each. The La Jolla, Calif., company anticipates net proceeds of about $100.2 million from the offering.
Plug Power (NasdaqGM:PLUG - News) posted a fourth-quarter loss of $13.3 million, or 15 cents a share, narrower than a year-ago loss of $16.5 million, or 19 cents a share.
Pride International (NYSE:PDE - News) reported fourth-quarter earnings of $68.9 million, or 40 cents a share, up from a year-ago profit of $40.6 million, or 24 cents a share. The latest results include expenses of 8 cents a share related to the early termination of certain relationships with rigs in Brazil, a charge of 2 cents a share from an ongoing investigation by the company's audit committee, and a charge of a penny per share related to the impairment of certain rigs. Revenue rose 21% in the three months ended Dec. 31 to $669.2 million from $551 million in the same period a year earlier. The average estimate of analysts polled by Thomson Financial was for a profit of 48 cents a share in the December period. Looking ahead, the Houston-based drilling contractor said it expects earnings of 57 to 60 cents a share in the first quarter. Wall Street's current consensus estimate is for a profit of 64 cents a share in the March period. Pride said the outlook reflects current softness in the U.S. Gulf of Mexico market.
Restore Medical (NasdaqGM:REST - News) shares dropped after the company posted sales of $1.1 million for the fourth quarter, down from $1.6 million in the same period a year earlier. RBC Capital Markets lowered its rating on the stock to sector perform from outperform, citing the sales decline. The firm also cut its price target on shares of the St. Paul, Minn., maker of a sleep apnea treatment to $5 from $7.
Sears Holding Corp. (NasdaqGS:SHLD - News) reported a jump in fourth quarter profit Thursday as higher margins helped offset sagging same-store sales and flat overall revenue. Sears earned $820 million, or $5.33 a share, on the period - up from $648 million, or $4.03 a share in the fourth quarter of the previous year. Revenue came in at $16.3 billion, up from $16.1 billion, with the help of an extra week in the most recent quarter. Domestic same-store sales -- those at stores open more than a year -- declined 3.1% with Sears down 4.9% and Kmart off 0.9%. The average estimate of analysts polled by Thomson Financial had been for the company to earn $5.18 a share on revenue of $15.95 billion.
Smithfield Foods (NYSE:SFD - News) said fiscal third-quarter net income slipped to $60.4 million, or 54 cents a share, from $71 million, or 63 cents a share. The pork and beef producer attributed 4 cents a share of this year's third quarter net income to a lower estimate of its annualized income tax rate. Last year's results include an after-tax loss from discontinued operations of 4 cents a share. Sales rose to $3.28 billion from $2.93 billion. Analysts, on average, expected it to earn 51 cents a share on revenue of $3.15 billion, according to Thomson Financial. The Smithfield, Va.-based company said the rise in corn and other grain prices will have a "significant" impact on the business.
Sonus Networks Inc. (NasdaqGS:SONS - News) said fourth-quarter revenue was $79 million. The Chelmsford, Mass., maker of voice and data communications hardware and software didn't report earnings because it hasn't completed its restatement of certain financial reports. Sonus said the audit committee completed its investigation of the company's stock option practices and accounting, and found no improper conduct or violation of company policies by any member of management.
Southwestern Energy Co. (NYSE:SWN - News) reported fourth-quarter net earnings of $33.8 million, or 20 cents a share, down from $48.9 million, or 29 cents a share, a year ago. Revenue for the three months ended Dec. 31 slipped to $214 million from $220 million a year ago.
Staples Inc. (NasdaqGS:SPLS - News) reported net income of $336.5 million, or 46 cents a share, for the fourth quarter ended Feb. 3, up from $276.7 million, or 37 cents, earned in the same period a year earlier. Quarterly sales reached $5.29 billion from $4.46 billion for the office-products retailer, which said it generated $370 million in sales during an extra week in the latest quarter. Analysts, on average, had been looking for Staples to earn 45 cents a share on revenue of $5.19 billion for the latest quarter, according to estimates compiled by Thomson Financial. As for the current year, Staples is forecasting profit growth of 15% to 20% on an adjusted basis, equating to a range of $1.43 to $1.49 a share; analysts' average view stands at $1.49 a share.
Steven Madden Ltd.'s (NasdaqGS:SHOO - News) fourth-quarter net income rose to $10 million, or 45 cents a share, from $7.44 million, or 34 cents a share, a year ago. A Thomson Financial survey of analysts, on average, predicted earnings of 44 cents a share for the quarter. Analysts' estimates usually exclude items. The Long Island City, N.Y., fashion footwear maker's net sales rose 25% to $114.1 million from $91.4 million a year ago. Steven Madden expects first-quarter earnings of 40 cents to 43 cents a share on sales that are flat with the same period last year, due in part to weaker-than-anticipated performance in boots in both wholesale and retail and sports fusion product in Steve Madden Men's, and Betsey Johnson handbags in Daniel M.
St. Mary Land & Exploration Co. (NYSE:SM - News) said President Tony Best was named to additional position of chief executive, effective Feb. 23.
Take-Two Interactive Software (NasdaqGS:TTWO - News) reported a net loss for the 2006 fiscal year on Wednesday afternoon. For the year ended Oct. 31, the video game publisher said net loss came in at $184.9 million, or $2.60 per share, compared with earnings of $35.3 million, or 50 cents a share, for the previous year. Revenue for the year was $1.04 billion compared to $1.2 billion the previous year.
Universal Health Services Inc.'s (NYSE:UHS - News) fourth-quarter net income more than doubled to $34.2 million, or 63 cents a share, from $12.3 million, or 23 cents a share, a year earlier. The King of Prussia, Pa., hospital operator's revenue grew to $1.07 billion from $967.2 million.
Viacom Inc.'s (NYSE:VIA - News) fourth-quarter earnings more than tripled to $480.8 million, or 69 cents a share, from $129.5 million, or 17 cents a share, a year earlier, as filmed entertainment revenue doubled to $1.57 billion. The company had adjusted earnings from continuing operations of 65 cents a share, compared with 37 cents a share a year earlier. The New York media company said Thursday that total revenue rose 32% to $3.59 billion from $2.72 billion a year earlier. Analysts polled by Thomson Financial, on average, expected earnings of 58 cents a share on revenue of $3.15 billion.
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Labels: NCI, NT, NTG, PDE, PEIX, PETM, PICO, PLUG, PNCL, REST, SFD, SHLD, SHOO, SM, SONS, SPLS, SWN
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