Pinnacle Fin'l quarterly profit rises 33%
(8:58 PM ET) SAN FRANCISCO (MarketWatch) -- Pinnacle Financial Partners Inc. /zigman2/quotes/206544847/composite PNFP +0.76% late Tuesday reported fourth-quarter net earnings of $2.24 million, or 24 cents a share, up 33% from $1.69 million, or 18 cents a share. Analysts polled by Thomson First Call estimated earnings of 23 cents a share. Revenue at the Nashville, Tenn.-based financial services company rose to $9.79 million from $8.76 million, and net interest income was $8.29 million vs. $6.28 million. The company expects first-quarter earnings of 22 cents to 25 cents a share, and a 2006 per-share profit of $1.14 to $1.22 a share..
CORRECT: Yahoo profit falls below expectations, shares dn 9%
(8:06 PM ET) SAN FRANCISCO (MarketWatch) -- Yahoosaid late Tuesday that it earned $683 million, or 46 cents a share, in the fourth quarter, up from $373 million, or 25 cents a share, a year ago. Excluding certain items, Yahoo said it earned $247 million, or 16 cents a share, up from $187 million, or 13 cents a share, a year ago. Analysts expected Yahoo to earn 17 cents a share, excluding stock-option expenses. Revenue, excluding the fees paid to distribution partners, grew 36% to $1.068 billion, in line with analysts' forecasts. Shares of Yahoo fell 9% in after-hours action. (Corrects revenue figure, which was earlier reported as $1.0678 billion.)
Palm Harbor Homes swings to quarterly profit; revenue surges
(6:29 PM ET) SAN FRANCISCO (MarketWatch) --- Palm Harbor Homes Inc.after the closing bell on Tuesday reported fiscal third-quarter earnings of $4.27 million, or 18 cents a share. During the same period a year ago, the Addison, Texas-based homebuilder reported a net loss of $4.65 million, or 20 cents a share. The company posted net sales of $193.2 million vs. $154.6 million. Analysts polled by Thomson First Call forecast third-quarter earnings of 12 cents a share.
Tsys quarterly profit rises; revenue jumps 37%
(6:06 PM ET) SAN FRANCISCO (MarketWatch) -- Tsys Inc.after Tuesday's closing bell reported fourth-quarter net income of $49.7 million, or 25 cents a share, compared with $43 million, or 22 cents a share, a year ago. Revenue rose to $420.74 million, up 37% from $307.16 million last year. The provider of outsourced payment services said it expects 2006 earnings to increase by 21% to 23%, and total revenue to increase 5% to 7%. Tsys said its 2006 earnings forecast assumes the previously disclosed deconversion of Bank of America's /zigman2/quotes/200894270/composite BAC +0.44% consumer portfolio, as well as other items. Tsys also said its board named Philip Tomlinson chairman, succeeding Richard Ussery who will continue to serve as a director.
Linear Tech quarterly profit flat; div raised 50% to 15c
(6:01 PM ET) SAN FRANCISCO (MarketWatch) -- Linear Technology Corp.late Tuesday reported fiscal second-quarter net earnings of $103.2 million, or 33 cents a share, vs. $102.8 million, or 33 cents a share, in the year-ago period. Revenue at the Milpitas, Calif.-based integrated circuit manufacturer rose to $265.1 million from $250.1 million. Analysts polled by Thomson First Call had estimated earnings of 35 cents a share on revenue of $265 million. The company forecast fiscal third-quarter sales growth of 5% to 6%. Linear also raised its quarterly dividend 50%, to 15 cents from 10 cents a share. The dividend is payable Feb. 15 to shareholders as of Jan. 27.
DTE Energy sees 2006 ops earns $635M-$690M; backs 2005 view
(5:36 PM ET) SAN FRANCISCO (MarketWatch) -- DTE Energy Co. /zigman2/quotes/205073403/composite DTE -1.52% said after the closing bell on Tuesday it expects 2006 operating earnings of $635 million to $690 million, or $3.60 to $3.90 a share. The Detroit-based utility also reconfirmed its outlook on 2005 operating earnings of $545 million to $585 million, or $3.10 to $3.30 a share. Operating earnings exclude non-recurring items, certain timing-related items and discontinued operations, the company said.
Convergys backs '05 EPS view despite Sprint billing decision
(5:26 PM ET) SAN FRANCISCO (MarketWatch) -- Convergys Corp.after Tuesday's closing bell reaffirmed its forecast for 2006 earnings of at least $1.07 a share, in spite of Sprint Nextel'sdecision to phase out over time the companies' billing relationship. Convergys said Sprint plans to migrate its subscribers off its Precedent 2000 platform during 2006 and 2007. Cincinnati-based Convergys said its information management group generated $100 million in revenue from Sprint in 2005. "Though disappointed with this decision by Sprint Nextel, we continue to have confidence in [the information management group] and the prospects for continued revenue and earnings growth across Convergys," the company said in a statement. ·
Digi International quarterly earnings fall; lowers 2006 view
(4:49 PM ET) SAN FRANCISCO (MarketWatch) -- Digi International Inc. /zigman2/quotes/203836067/composite DGII +3.88% after the closing bell on Tuesday reported fiscal first-quarter net earnings of $2.18 million, or 9 cents a share, vs. $2.96 million, or 13 cents a share, during the same period a year ago. The Minneapolis-based maker of hardware and software connectivity products posted revenue of $33.4 million vs. $29.5 million. Analysts surveyed by Thomson First Call had forecast first-quarter earnings of 11 cents a share on revenue of $33 million. Looking ahead, Digi said it expects second-quarter earnings of 10 cents to 16 cents a share on revenue of $32.5 million to $37.5 million, excluding stock-based compensation expenses of 2 cents a share. Additionally, the company said it has revised its fiscal 2006 outlook due to uncertainty and weakness in the North American channel and slower-than-expected ramp up for new products. For fiscal 2006, Digi now sees earnings of 40 cents to 50 cents a share on revenue of $136 million to $148 million, including options expenses. Analysts are currently looking for earnings of 62 cents a share on revenue of $149 million for fiscal 2006.
Navistar to delay 10-K filing for FY05
(4:49 PM ET) SAN FRANCISCO (MarketWatch) -- Navistar International Corp. /zigman2/quotes/202415816/composite NAV +0.72% said after Tuesday's closing bell it will not file its Form 10-K for fiscal 2005 by today's deadline because it is still in discussions with its outside auditors about a number of open items. The truck engine producer said it cannot determine when it will be able to file its Form 10-K, and said its fiscal first-quarter results may also be delayed. It does not expect the delay to result in any adverse action by the company's lenders. Navistar said production, retail sales and market share numbers in 2005 met the company's expectations. For 2006, Navistar expects earnings to come in above the current First Call consensus estimate of $5.34 a share.
Sovereign Bancorp quarterly net income rises 20%
(4:27 PM ET) SAN FRANCISCO (MarketWatch) -- Sovereign Bancorpreported a 20% increase in fourth-quarter profit late Tuesday. Net income came in at $165 million, or 44 cents a share, vs. $137 million, or 38 cents a share, a year earlier, the Philadelphia-based bank said. Operating profit, which excludes after-tax charges related to acquisitions, restructuring costs, proxy fees and the amortization of intangible assets, was 48 cents a share, in line with the final quarter of 2004, Sovereign added. The lender was expected to earn 46 cents a share in the period, according to the average estimate of 17 analysts in a Thomson First Call survey. Sovereign is battling its largest shareholder Relational Investors over a plan to buy Independence Community Bancorpand sell a stake in itself to Spain's Banco Santander.
Inter Parfums 4Q sales rise; affirms 2006 outlook
(4:26 PM ET) SAN FRANCISCO (MarketWatch) -- Inter Parfums Inc. /zigman2/quotes/202027190/composite IPAR -0.68% said after the closing bell on Tuesday its fourth-quarter 2005 sales were $65.5 million, up nearly 3% from the same period a year ago. At comparable foreign currency exchange rates, net sales for the fourth quarter were up 9%. The New York-based perfume and cosmetics company affirmed its 2006 sales outlook of $301 million. The company said it expects 2006 net income of $16.9 million, or 83 cents a share. Analysts polled by Thomson First Call are currently forecasting 2006 earnings of 83 cents a share on revenue of $302 million. Inter Parfums said its 2006 outlook includes an after-tax charge for stock-based compensation of 3 cents a share. In addition, the company said its products for Gap Inc.'s /zigman2/quotes/206554267/composite GPS -1.94% Banana Republic stores should add to its earnings in 2006. The Gap program remains on schedule for an early 2007 store debut, Inter Parfums added.
Intel Q4 profit up but sales, forecast lag expectations
(4:24 PM ET) SAN FRANCISCO (MarketWatch) -- Intel Corp. /zigman2/quotes/203649727/composite INTC +1.19% reported its fourth-quarter profit rose 16% but its sales fell short of Wall Street's expectations due to lower-than-expected shipments of desktop computer chips. The world's largest supplier of computer chips said it earned $2.5 billion, or 40 cents a share, compared with $2.1 billion, or 33 cents a share, in the same period last year. Sales rose 6% to $10.2 billion but missed the expectations of analysts surveyed by Thomson First Call who expected $10.56 billion. Analysts estimated Intel would earn 43 cents a share, excluding stock option costs. Intel didn't say how much option costs impacted results. After the report, Intel shares fell more than 4% in after-hours trading. Its first quarter sales forcast was also below Wall Street's target.
IBM fourth-quarter profit rises 13%
(4:15 PM ET) SAN FRANCISCO (MarketWatch) -- International Business Machines Corp. /zigman2/quotes/203856914/composite IBM +1.11% on Tuesday reported a fourth-quarter profit of $3.19 billion, or $1.99 a share, up 13% from $2.8 billion, or $1.67 a share a year ago. The per-share figures include stock-based compensation expenses. Income from continuing operations totaled $3.22 billion, or $2.01 a share, including 10 cents a share to account for pension plan charges. Analysts surveyed by Thomson First Call had expected IBM to earn $1.94 a share from continuing operations. Revenue totaled $24.4 billion, well below analysts' estimates of $25.4 billion.
Wegener swings to quarterly loss; revenue drops 22%
(11:42 AM ET) SAN FRANCISCO (MarketWatch) -- Wegener Corp. /zigman2/quotes/200708383/composite WGNR 0.00% on Tuesday reported a fiscal first-quarter net loss of $643,000, or 5 cents a share. Last year, it earned $112,000, or 1 cent a share. Revenue fell 22% to $5 million from $6.4 million a year ago. The broadcast equipment maker said it expects the majority of its new backlog to be recognized as revenue when it begins shipments toward the end of fiscal 2006 and into fiscal 2007. Wegener, based in Duluth, Ga., also said it continues to expect it will generate an operating loss for the majority of fiscal 2006.
Yahoo shares up slightly ahead of earnings
(10:10 AM ET) SAN FRANCISCO (MarketWatch) -- Yahoo Inc.shares gained 0.3% to $40.02 in Tuesday morning action ahead of the company's results due out after the market close. The Net sector otherwise lost ground as The Dow Jones Internet Indexwas off 0.8% to $98.13, while the technology-heavy Nasdaq Composite Indexwas down 15.36 points to 2,301.68. Google Inc. /zigman2/quotes/205453964/composite GOOG -0.57% shares were off 0.5% after the company said it has acquired dMarc Broadcasting Inc. for $102 million in cash. DMarc is a technology company that helps connect advertisers to radio stations. Elsewhere in the Net sector, shares of InfoSpace Inc. /zigman2/quotes/209639226/composite INSP +2.06% , Napster Inc., Earthlink Inc.and Audible Inc.each traded off more than 2%.
Albany Intl expects Q4 earnings at 36c
(10:10 AM ET) NEW YORK (MarketWatch) -- Albany International Corp. /zigman2/quotes/208627197/composite AIN +1.62% said Tuesday it expects fourth-quarter earnings of about 36 cents a share, including 20 cents in restructuring charges and an 8 cent gain on tax adjustments. The Albany, N.Y., company said it earned 38 a share in the 2004 fourth quarter. The company said fourth-quarter sales increased 4% to $247.9 million. The company also said it expects full-year earnings of about $2.18 a share. Meanwhile, the board also authorized the repurchase of up to 3.5 million Class A common shares.
Quanex shares surge after raising earnings outlook
(9:50 AM ET) NEW YORK (MarketWatch) -- Quanex Corp. /zigman2/quotes/206135937/composite NX +4.27% raised its first-quarter earnings outlook by 35% Monday, citing better-than-expected results at its building products division and lower scrap costs at its car products division. The Houston-based maker of engineered materials for vehicles and the construction industry said it now expects adjusted earnings of $1.00 to $1.05. The average forecast of analysts polled by Thomson First Call is for earnings of 84 cents a share. Shares cliimbed 8.6% to $58.42 in early trade.