Friday's Biggest Decliners
Allergan (NYSE:AGN - News) said the Food and Drug Administration has issued an approvable letter for Combigan, a treatment to reduce elevated intraocular pressure. The company said the FDA has suggested an additional confirmatory study to address certain questions posed, and that Allergan has already commenced a clinical study that addresses the questions.
Electroglas Inc. (NASDAQ:EGLS - News) said its second-quarter net loss narrowed to $3.23 million, or 12 cents a share, from a net loss of $5.3 million, or 24 cents a share, during the same period in the prior year. The San Jose, Calif.-based chip testing company said quarterly revenue rose to $12.6 million from $9.88 million in the prior year. For the third quarter, Electroglas sees sales of $10 million to $12 million.
GTSI Corp. (NASDAQ:GTSI - News) on Friday reported results for its second and third quarters, and said it expects to file its Form 10-K/A and Form 10-Q/A today with the Securities and Exchange Commission, which should make it compliant with Nasdaq listing requirements. For the third quarter ended Sept. 30 the company reported a net loss of $3.4 million, or 35 cents a share, as sales fell 9.7% to $241.6 million. For the second quarter ended June 30, the Chantilly, Va., information technology company posted income of $944,000, or 10 cents a share, as sales rose 1% to $180.9 million. Since August, GTSI has been evaluating its financial records for the periods of 2003, 2004, 2005 and the first quarter of 2006, resulting in restatements for those periods.
Qualcomm (NASDAQ:QCOM - News) said it now expects first-fiscal-quarter earnings per share, excluding items, of 41 cents to 42 cents, compared with its prior outlook of 42 cents to 44 cents. The company added that it now expects quarterly revenue to be at the high end of its prior view of $1.98 billion to $2.08 billion.
Shire and New River Pharmaceuticals (NASDAQ:NRPH - News) said the U.S. Food and Drug Administration has given the firms a second approvable letter on Vyvanse, formerly known as NRP 104, to treat attention deficit hyperactivity disorder. No additional studies have been requested by the FDA as a condition for approval in what the companies called a "routine" request for data, and they still plan a second-quarter 2007 launch. The FDA has proposed the drug is classified as a Schedule II controlled substance, and the drug will be available in three once-daily dosages.
Solectron Corp. (NYSE:SLR - News) said first-quarter net income fell, as the company recorded a $34.6 million restructuring charge, to $6 million, or a penny a share, from $24 million, or 3 cents a share, during the same period in the prior year. Excluding items, quarterly per-share income rose to 6 cents from 3 cents in the prior year. Analysts polled by Thomson First Call had expected per-share income of 5 cents. The electronics manufacturing provider said quarterly revenue rose to $3 billion from $2.46 billion in the prior year, while Wall Street had expected $2.79 billion. For the second quarter, Solectron sees sales of $2.8 billion to $3 billion, and pro forma per-share income of 4 cents to 6 cents. Analysts are looking for quarterly revenue of $2.79 billion and per-share income of 5 cents.
Tibco Software Inc. (NASDAQ:TIBX - News) after reported fourth-quarter net earnings of $31.5 million, or 14 cents a share, compared with $26.6 million, or 12 cents a share, in the same period last year, on the back of strong license revenue growth. Excluding stock-based compensation, among other items, the Palo Alto, Calif.-based maker of business integration and process management software posted per-share earnings of 14 cents. Revenue rose 20% to $161 million from $134.4 million. Analysts polled by Thomson First Call had expected per-share earnings of 12 cents, on revenue of $157 million.
-MarketWatch
Electroglas Inc. (NASDAQ:EGLS - News) said its second-quarter net loss narrowed to $3.23 million, or 12 cents a share, from a net loss of $5.3 million, or 24 cents a share, during the same period in the prior year. The San Jose, Calif.-based chip testing company said quarterly revenue rose to $12.6 million from $9.88 million in the prior year. For the third quarter, Electroglas sees sales of $10 million to $12 million.
GTSI Corp. (NASDAQ:GTSI - News) on Friday reported results for its second and third quarters, and said it expects to file its Form 10-K/A and Form 10-Q/A today with the Securities and Exchange Commission, which should make it compliant with Nasdaq listing requirements. For the third quarter ended Sept. 30 the company reported a net loss of $3.4 million, or 35 cents a share, as sales fell 9.7% to $241.6 million. For the second quarter ended June 30, the Chantilly, Va., information technology company posted income of $944,000, or 10 cents a share, as sales rose 1% to $180.9 million. Since August, GTSI has been evaluating its financial records for the periods of 2003, 2004, 2005 and the first quarter of 2006, resulting in restatements for those periods.
Qualcomm (NASDAQ:QCOM - News) said it now expects first-fiscal-quarter earnings per share, excluding items, of 41 cents to 42 cents, compared with its prior outlook of 42 cents to 44 cents. The company added that it now expects quarterly revenue to be at the high end of its prior view of $1.98 billion to $2.08 billion.
Shire and New River Pharmaceuticals (NASDAQ:NRPH - News) said the U.S. Food and Drug Administration has given the firms a second approvable letter on Vyvanse, formerly known as NRP 104, to treat attention deficit hyperactivity disorder. No additional studies have been requested by the FDA as a condition for approval in what the companies called a "routine" request for data, and they still plan a second-quarter 2007 launch. The FDA has proposed the drug is classified as a Schedule II controlled substance, and the drug will be available in three once-daily dosages.
Solectron Corp. (NYSE:SLR - News) said first-quarter net income fell, as the company recorded a $34.6 million restructuring charge, to $6 million, or a penny a share, from $24 million, or 3 cents a share, during the same period in the prior year. Excluding items, quarterly per-share income rose to 6 cents from 3 cents in the prior year. Analysts polled by Thomson First Call had expected per-share income of 5 cents. The electronics manufacturing provider said quarterly revenue rose to $3 billion from $2.46 billion in the prior year, while Wall Street had expected $2.79 billion. For the second quarter, Solectron sees sales of $2.8 billion to $3 billion, and pro forma per-share income of 4 cents to 6 cents. Analysts are looking for quarterly revenue of $2.79 billion and per-share income of 5 cents.
Tibco Software Inc. (NASDAQ:TIBX - News) after reported fourth-quarter net earnings of $31.5 million, or 14 cents a share, compared with $26.6 million, or 12 cents a share, in the same period last year, on the back of strong license revenue growth. Excluding stock-based compensation, among other items, the Palo Alto, Calif.-based maker of business integration and process management software posted per-share earnings of 14 cents. Revenue rose 20% to $161 million from $134.4 million. Analysts polled by Thomson First Call had expected per-share earnings of 12 cents, on revenue of $157 million.
-MarketWatch
posted by Stock Administrator @ 11:32 AM
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