Jim Cramer Blog

24/7 Real Media Inc. (NasdaqGM:TFSM - News) reported a fourth-quarter net loss of $227,000, or breakeven per share, compared with net earnings of $1.4 million, or 3 cents a share, in the year-ago period. Revenue rose to $60 million from $41.7 million.
Amgen Inc. (NasdaqGS:AMGN - News) disclosed it's received an informal inquiry from the Securities and Exchange Commission seeking more information about a Danish study of the company's Aranesp anemia drug.
Avocent Corp. (NasdaqGS:AVCT - News) revised its previously-announced fourth-quarter earnings down by $0.7 million and its revenue by $2.8 million after becoming aware that several previously recorded transactions did not meet revenue recognition criteria. The firm also said certain royalties earned by its LANDesk unit should have been recorded prior to the closing of its acquisition. Avocent said it now doesn't expect to pay the previously accrued contingent consideration of $27 million related to the acquisition. Taking account of the revision, Avocent said fourth-quarter revenue rose 55% to $166.1 million and operating income per share was 59 cents in the quarter, compared to 49 cents a year ago.
Ciena (NasdaqGS:CIEN - News) said it swung to a first-quarter profit of $11.1 million, or 12 cents a share, after revenue jumped 37% to $165 million. Excluding amortization of intangible assets, stock-based compensation and other items, it would've earned 22 cents a share. Analysts polled by Thomson Financial had expected earnings of 23 cents a share on revenue of $164 million. "As bandwidth demands escalate across multiple traffic types, service provider and enterprise customers alike are increasingly looking for solutions that allow them to transition their networks toward powerful converged network architectures capable of delivering any service at any time," said Gary Smith, CEO, in a statement.
Circuit City Stores (NYSE:CC - News) was downgraded to market perform from outperform at Piper Jaffray.
Comfort Systems USA Inc. (NYSE:FIX - News) reported fourth-quarter net earnings of $7.5 million, or 18 cents a share. During the year-ago period, the company posted a net loss of $17.6 million, or 44 cents a share. Revenue at the Houston-based provider of commercial, industrial and institutional heating, ventilation and air conditioning services rose to $268.1 million from $233.7 million.
Constellation Brands (NYSE:STZ - News) said it expects earnings of $1.21 to $1.31 a share for fiscal 2008. On a comparable basis, excluding items, the Fairport, N.Y., alcohol producer and marketer forecast earnings of $1.30 to $1.40 a share. It sees a net sales decrease of 12% to 14% for the year, citing the impact of using the equity method to report the results of its Crown Imports joint venture. The company expects free cash flow of between $140 million and $160 million for fiscal 2008. Constellation also said its board has approved the buyback of up to $500 million worth of its common stock. The average estimate of analysts polled by Thomson Financial is for a profit of $1.83 a share in fiscal 2008. As for fiscal 2007, the company expects earnings of $1.34 to $1.39 a share. On a comparable basis, it sees a profit of $1.65 to $1.70 a share for the fiscal year ended Feb. 28. Wall Street's current consensus estimate is for earnings of $1.67 a share for the year. It sees net sales growth in the low double digit to low teens for fiscal 2007. The company also said it expects its Svedka vodka acquisition to close in mid-March.
Corrections Corp. of America (NYSE:CXW - News) said its chief financial officer, Irving Lingo, will retire. The Nashville, Tenn. correctional facility operator said it has selected Todd Mullenger, currently the company's Treasurer, as the new CFO, effective March 16.
Douglas Emmett Inc. (NYSE:DEI - News) reported a fourth-quarter net loss of $20.6 million, or 18 cents a share. The Santa Monica, Calif.-based real estate investment trust posted total revenue of $87 million for quarter, which ended Dec. 31.
Energy Partners Ltd. (NYSE:EPL - News) posted a loss of $52.5 million, or $1.35 a share, for the fourth quarter, down from a year-ago profit of $28.1 million, or 69 cents a share. The New Orleans-based oil and natural gas exploration company attributed the majority of its loss in the latest period to $77.9 million in pre-tax non-cash costs related to property impairments. On an adjusted basis, the company said its earnings would have been $4.9 million, or 13 cents per basic share, in the latest quarter.
Focus Media Holding Ltd. (NasdaqGM:FMCN - News) agreed to acquire Allyes Information Technology Co., a China-based Internet, for $70 million in cash and $155 million of stock.
Goodman Global (NYSE:GGL - News) reported fourth-quarter earnings of $11.2 million, or 16 cents a share, up from a year-ago loss of $803,000, or 2 cents a share. Excluding items, the Houston-based maker of heating, ventilation and air conditioning products posted an adjusted profit of $13 million in the year-ago period. Looking ahead, the company forecast earnings of $1.30 to $1.40 a share for 2007. Wall Street's current consensus estimate is for a profit of $1.30 a share for the year.
Hertz Global Holdings Inc. (NYSE:HTZ - News) said it will eliminate 1,350 jobs in a new restructuring initiative intended to save $125 million in yearly compensation.
IndyMac Bancorp (NYSE:NDE - News) said it sees tough conditions ahead for loan originations and credit, and warned earnings in 2007 will be lower than 2006. In a letter to shareholders, the company forecast a return on equity (ROE) of 10%-15% for the year. "Our ROEs for the early quarters of the year will be at the low end of the range above; however, during the second half of the year, if we execute on our plans as we expect, and with a little luck, our ROEs could be at or even somewhat above the high end of the range," the company said.
Input/Output Inc. (NYSE:IO - News) shares tumbled after the Houston-based provider of seismic acquisition equipment and software reported fourth-quarter net earnings of $13.7 million, or 15 cents a share, vs. $16.1 million, or 17 cents a share, in the year-ago period. Revenue rose to $166.2 million from $131 million. Analysts polled by Thomson Financial were expecting a per-share profit of 15 cents. Input/Output forecast 2007 earnings of 45 cents to 60 cents a share on revenue of $610 million to $670 million.
Intevac (NasdaqGM:IVAC - News) was downgraded to market weight from overweight at Thomas Weisel Partners.
Laboratory Corp. of America (NYSE:LH - News) said it expects 2007 earnings will be reduced by 4-12 cents a share after Aetna Inc. (NYSE:AET - News) cancelled its contract with the company, effective July 1. "We are disappointed with Aetna's decision but we are confident in our strategy for profitable growth," CEO David King said in a release.
Limited Brands Inc. (NYSE:LTD - News) said its profit fell in the latest quarter compared with the same period a year earlier, which was lifted by favorable onetime gains.
Medicis Inc. (NYSE:MRX - News) reported fourth-quarter net income of $17.9 million, or 27 cents a share, compared with $37.3 million, or 56 cents a share, for the same quarter last year. Revenue rose to $99.1 million, from $80.7 million last year. Medicis also said it expects to post earnings of 12 cents a share and revenue of $95 million for the first quarter 2007. For 2007, the company sees earnings of $1.12 a share, on revenue of $455 million.
Published By MarketWatch

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Abercrombie & Fitch (NYSE:ANF - News) said its January sales at stores open at least one year fell 6%. Analysts, on average, had expected it to post a same-store-sales drop of 1.9%, according to Thomson Financial. Net sales for the five weeks ended Feb. 3 rose 37% to $252.3 million. The New Albany, Ohio, clothing retailer said sales in its fiscal 2006 rose 19% to $3.32 billion from $2.79 billion.
Accuray (NasdaqGM:ARAY - News) shares rocketed up in company's initial public offering.
Alcon Inc. (NYSE:ACL - News) reported fourth-quarter net earnings of $354.7 million, or $1.16 a share, compared with $60.7 million, or 19 cents a share, during the same quarter a year ago. Results from the year-ago period included $207.7 million in after-tax charges, or 66 cents a share.
Akamai Technologies Inc. (NasdaqGS:AKAM - News) said fourth-quarter net income fell, as costs and expenses rose, to $20.6 million or 12 cents a share, from $25.8 million, or 16 cents a share, during the same period in the prior year. Before items, quarterly per-share income rose to 27 cents from 16 cents in the prior year.
Alkermes Inc. (NasdaqGS:ALKS - News) reported that net income for its fiscal third-quarter rose to $2.9 million, or 3 cents a share, from $1.4 million, or 1 cent a share, for the same quarter last year. Excluding items, Alkermes would have reported adjusted earnings of 11 cents a share.
AnnTaylor Stores (NYSE:ANN - News) said its January same-store sales fell 10.2% from a year earlier, assuming both periods include four weeks. The fashion-apparel retailer said Thursday net sales increased 21% to $149.9 million for the five weeks ended Feb. 3 from $123.9 million for the comparable four-week period a year ago. Same-store sales calculation for the latest January tracks performance for the four weeks ended Jan. 27 and its net sales calculation tracks results for the five weeks ended Feb. 3. Year-earlier results were for the four weeks ended Jan. 28. For fiscal 2006, AnnTaylor expects earnings of $1.95 a share to $1.98 a share.
Aspreva Pharmaceuticals Corp. (NasdaqGS:ASPV - News) shares rose after the Victoria, British Columbia-based company late Wednesday reported fourth-quarter net earnings of $26 million, or 73 cents a share, up from $24.3 million, or 68 cents a share, in the year-ago period. Revenue rose to $52.5 million from $45 million. Analysts polled by Thomson Financial were expecting a per-share profit of 66 cents. Aspreva forecast 2007 royalty revenue of more than $245 million.
Beckman Coulter (NYSE:BEC - News) reported fourth-quarter net income of $62.3 million, or 97 cents a share. Excluding one-time items, the company would have earned $1.03 a share compared to 73 cents a share a year ago. Revenue rose 8.6% to $712 million. The company said it sees 2007 adjusted earnings in the range of $3.10 to $3.25 a share. It expects revenue to increase by 7% to 9%.
BG Group (NYSE:BRG - News) said fourth-quarter profit dropped 18% to 410 million pounds, with revenue down 10% to 1.9 billion pounds. Though production rose 5% and it saw "strong" growth in the liquified natural gas business, lower gas prices, a weaker U.S. dollar and an increased North Sea tax rate. The company affirmed its earnings outlook to 2009, sees exploration and production volume growth of 5% to 7% a year to 2009, and is "more confident" of achieving higher levels of its 6%-to-10% volume growth view to 2012.
Bon-Ton Stores Inc. (NasdaqGS:BONT - News) said January same-store sales rose 6.4%. Total sales for the five weeks ended Feb. 3 increased 283%, to $240.6 million. Analysts surveyed by Thomson Financial forecast a same-store sales rise of 0.5%.
BorgWarner (NYSE:BWA - News) said its fourth-quarter earnings fell 37%, due in part to restructuring charges related to asset impairments in North America, supplemental to restructuring activities announced in the third quarter. The Auburn Hills, Mich. maker of automotive power train products had fourth-quarter earnings of $40.9 million, or 70 cents a share, compared with $64.6 million, or $1.12 a share, a year earlier. Excluding the restructuring charges and other items, the company had earnings of 99 cents a share. BorgWarner said revenue for the quarter ended Dec. 31 rose 15% to $1.2 billion from $1.05 billion a year ago. Analysts surveyed by Thomson Financial expected, on average, earnings of 95 cents a share on revenue of $1.11 billion. Analyst earnings forecasts typically exclude unusual items. In addition, the company said it expects 2007 earnings of $4.70 to $4.90 a share. BorgWarner had earlier forecast 2007 earnings of $4.60 to $4.80 a share. BorgWarner also reiterated its sales guidance, saying it expects sales growth of 7% to 9%.
Bunge (NYSE:BG - News) said its fourth quarter net profit rose 77% to $264 million, or $2.12 a share, from $149 million, or $1.25 a share in the year-earlier period. Net sales rose 14% to $7.68 billion amid signs of a turnaround in the Brazilian business and higher demand for core products related to the bio-fuels industry. The latest results included net gains of $74 million, or 60 cents a share. Analysts polled by Thomson Financial were expecting earnings of $1.44 a share on revenue of $7.44 billion. The company said it expects earnings in 2007 to be in a range of $4.56 to $4.71 a share. Separately Bunge announced that its CFO William Wells will leave the company effective April 1. It added it has begun a search for a replacement.
Circuit City Stores (NYSE:CC - News) said it will close stores and shake up its merchandising team in a move to improve its financial performance.
Citi Trends Inc. (NasdaqGS:CTRN - News) said comparable store sales for the five weeks ended Feb. 3 rose 3.2%. Analysts polled by Thomson Financial had expected growth of 0.2%. The apparel retailer said total January sales increased to $36.2 million from $20.9 million during the same period in the prior year.
Corrections Corp. of America (NYSE:CXW - News) said its fourth-quarter net profit rose 37.6% to $32.2 million, or 52 cents a share, from $23.4 million, or 39 cents a share, a year earlier. Revenue for the quarter ending Dec. 31 rose 10.2% to $349.6 million. Analysts polled by Thomson Financial had been expecting earnings of 44 cents a share on revenue of $343 million. The company said its results were driven by strong demand for prison beds from both federal and state customers. The company said average compensated occupancy for the period rose to 96.6% from 93.1%. The company said it expects earnings in the first quarter to be in the range of 43 cents to 37 cents a share, with earnings for 2007 in the range of $1.95 to $2.05 a share.
Dollar Tree Stores (NasdaqGS:DLTR - News) said fourth-quarter sales rose 22.2% to $1.32 billion, helped by an extra week compared with the year-ago quarter. Analysts, on average, expected the Chesapeake, Va., variety-store chain to post quarterly sales of $1.3 billion. Same-store sales, or sales at stores open at least a year, rose 5.5% for the quarter.
DSW Inc. (NYSE:DSW - News) said fourth-quarter same-store sales rose 1%, with total sales increasing to $329.1 million from $283.8 million. Analysts surveyed by Thomson Financial forecast revenue of $315.2 million, on average.
Electronic Data Systems Corp. (NYSE:EDS - News) said fourth-quarter profit nearly doubled, while revenue grew 11%. Computer services giant EDS said its net income for the quarter ended Dec. 31 rose to $217 million, or 40 cents a share, from $112 million, or 21 cents, a year earlier.
Exide Technologies (NasdaqGM:XIDE - News) reported adjusted EBITDA of $54.1 million for the third quarter, up 32% from last year's equivalent total of $41.1 million.
Express Scripts Inc. (NasdaqGS:ESRX - News) said increased generic drug use and lower costs resulted in a 32% surge in fourth-quarter profit and prompted the pharmacy benefits manager to boost its outlook for the full-year period.
Published By Michael Baron

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