Dominion Homes quarterly loss widens as revenue falls
(6:39 PM ET) SAN FRANCISCO (MarketWatch) -- Dominion Homes Inc.late Tuesday reported a second-quarter net loss of $29.7 million, or $3.63 a share, compared with a net loss of $5.93 million, or 73 cents a share, during the year-ago period. The current results include a non-cash charge of $17.2 million related to real estate inventory impairments, the company said. The Dublin, Ohio-based home builder said revenue for the three months ended June 30 fell to $38.8 million, from the delivery of 206 homes, versus $75.8 million, from the delivery of 398 homes. The quarterly loss is a result of fewer home deliveries, higher sales discounts to meet competition and non-cash impairment charges, Dominion Homes noted. The company also said it's not in compliance with certain financial covenants as of June 30, and is in discussions with its lenders to modify the credit facility.
Scottish Re swings to quarterly profit on tax benefit
(6:30 PM ET) SAN FRANCISCO (MarketWatch) - Scottish Re Group Ltd.late Tuesday reported it swung to a second-quarter net profit of $102.7 million from a net loss of $121.6 million during the year-ago period. Earnings available to common shareholders were $99.5 million, or 63 cents a share. A year ago, the loss available to shareholders was $123.9 million, or $2.31 a share. Excluding a one-time tax benefit, the company said it posted a pretax operating loss of $52.9 million, compared with a pretax operating loss of $28.5 million last year. The Hamilton, Bermuda-based reinsurer said total revenue for the three months ended June 30 rose to $612.7 million from $593.6 million. Analysts polled by Thomson Financial had forecast, on average, a per-share loss of 39 cents.
Home Inns' quarterly profit rises
(5:24 PM ET) SAN FRANCISCO (MarketWatch) -- Home Inns & Hotels Management Inc.late Tuesday reported second-quarter net earnings of 22.7 million yuan ($3 million), or 0.68 yuan (8 cents) per American Depositary share, up from $19.4 million yuan, or 0.74 yuan per ADS, in the year-ago period. Revenue for the quarter ended June 30 increased to 232.2 million yuan ($30.5 million) from 138.4 million yuan in the same period last year. The Shanghai-based company forecast total revenue in the third quarter in the range of 258 million yuan to $268 million yuan ($33.9 million to $35.2 million).
WCI changes reporting date; outlines expected charges
(4:59 PM ET) SAN FRANCISCO (MarketWatch) -- WCI Communities Inc.late Tuesday said it has rescheduled its second-quarter earnings release to Aug. 22 from Aug. 16, allowing it to complete its review of real estate inventories and other assets for possible impairment charges. The Bonita Springs, Fla.-based home builder said, at this time, it expects to record pretax asset impairment charges of $34 million to $54 million for the quarter. In an Aug. 10 filing, WCI said it expected to post a loss of about $16.9 million for the quarter, which included $14 million of pretax impairment charges. The company also said it continues to believe that its cash flow from operating activities and investing activities for 2007 will range from $530 million to $730 million. Additionally, WCI said it's finalizing negotiations with its lenders for an amendment of its bank covenants beginning in the quarter ended June 30.
Iridex quarterly loss narrows as revenue rises
(4:41 PM ET) SAN FRANCISCO (MarketWatch) -- Iridex Corp. /zigman2/quotes/201777054/composite IRIX +14.50% late Tuesday reported a second-quarter net loss of $343,000, or 4 cents a share, compared with a net loss of $534,000, or 7 cents a share, during the year-ago period. The Mountain View, Calif.-based company said revenue rose to $15.2 million from $8.8 million. Gross margin for the quarter was 43.2%, versus 52.9% a year ago. Additionally, Iridex said it has reached a settlement with American Medical Systems Inc.regarding the acquisition of its Laserscope business, resulting in a $2.8 million reduction in the purchase price. Under the agreement, Iridex said it will pay AMS $1.2 million over a 12-month period beginning Aug. 24. Iridex is a provider of laser systems, disposable laser probes and delivery devices to treat eye diseases and skin diseases.
Impac Mortgage swings to a second-quarter loss
(4:41 PM ET) SAN FRANCISCO (MarketWatch) -- Impac Mortgage Holdings Inc. /zigman2/quotes/208451916/composite IMH -0.70% said late Tuesday it swung to a second-quarter net loss of $152.5 million, or $2.05 a share, from a year-ago net profit of $26.4 million, or 30 cents a share. The Irvine, Calif.-based a real estate investment trust said the net loss was primarily the result of a $163 million increase in the provision for loan losses as a result of deteriorating market conditions, higher delinquencies and higher severities. Impac said the estimated taxable loss was 25 cents a share compared with estimated taxable income of 27 cents a share for the second quarter of 2006. Analysts polled by Thomson Financial were expecting, on average, a loss of 11 cents a share. Impac said its mortgage operations acquired and originated $1.3 billion of primarily Alt-A mortgages in the quarter, compared with $2.2 billion in the same quarter last year.
FirstWave Tech swings to a second-quarter loss
(4:24 PM ET) SAN FRANCISCO (MarketWatch) -- Firstwave Technologies Inc.late Tuesday posted a second-quarter net loss applicable to common shareholders of $358,000, or 12 cents a share, versus a year-ago net profit applicable to common shareholders of $210,000, or 7 cents a share. Revenue fell 39% to $589,000 from $958,000 last year, said the Atlanta-based provider of customer management and tracking products.
Agilent Tech quarterly profit falls 19%; updates outlook
(4:23 PM ET) SAN FRANCISCO (MarketWatch) -- Agilent Technologies Inc. /zigman2/quotes/207081878/composite A +0.34% late Tuesday reported third-quarter net earnings of $185 million, or 45 cents a share, down 19% from $227 million, or 54 cents a share, during the year-ago period. Excluding share-based compensation expense, taxes, and other net benefits, adjusted earnings were $194 million, 48 cents a share, compared with $166 million, or 39 cents a share, a year ago. The Santa Clara, Calif.-based maker of testing and measurement equipment said net revenue for the three months ended July 31 rose to $1.37 billion from $1.24 billion. Analysts polled by Thomson Financial had forecast, on average, a per-share profit of 49 cents on revenue of $1.39 billion. For the fourth quarter, Agilent said it expects a softer-than-normal seasonal increase in revenues because of weak Asian electronic measurement markets. The company said it sees adjusted per-share earnings of 50 cents to 54 cents on revenue of $1.39 billion to $1.43 billion.
Eddie Bauer's quarterly loss narrows
(4:16 PM ET) SAN FRANCISCO (MarketWatch) -- Eddie Bauer Holdings Inc.late Tuesday reported that its second-quarter net loss narrowed to $22.2 million, or 73 cents a share, from a year-ago net loss of $42 million, or $1.40 a share. For the second quarter ended June 30, the Bellevue, Wash.-based sportswear retailer said revenue increased slightly to $227 million from $225.7 million in the comparable period of 2006. Same-store sales for the second quarter increased by 0.9% and sales in the company's direct channel increased by 6.4%.
Harman International quarterly profit rises 62%
(4:09 PM ET) SAN FRANCISCO (MarketWatch) -- Harman International Industries Inc.late Tuesday reported fourth-quarter net earnings of $104.9 million, or $1.58 a share, up 62% from $64.8 million, or 95 cents a share, during the year-ago period. After non-recurring restructuring charges, merger costs and tax items, earnings were 98 cents a share, the company said. The Washington-based maker of audio products and electronic systems said revenue for the three months ended June 30 rose to $911.1 million from $859.1 million. Analysts polled by Thomson Financial had forecast, on average, a per-share profit of $1.22 on revenue of $946 million. Additionally, Harman said it expects its $8 billion buyout by affiliates of Kohlberg Kravis Roberts & Co. LP and GS Capital Partners to close by the third or fourth quarter of 2007.
Applied Materials' earnings dip 7.5% in third quarter
(4:08 PM ET) SAN FRANCISCO (MarketWatch) -- Applied Materials Inc. saw its net income slip more than 7% in its third fiscal quarter despite a small gain in sales. For the quarter ended July 29, the maker of semiconductor manufacturing equipment /zigman2/quotes/209393259/composite AMAT -0.06% reported earnings of $473.5 million, or 34 cents a share, compared to earnings of $512 million, or 33 cents a share, for the same period last year. Revenue was up slightly at $2.56 billion from $2.54 billion. Analysts polled by Thomson Financial predicted that Applied Materials would earn 32 cents a share on revenue of $2.53 billion for the quarter.
Kaiser Aluminum swings to a profit; shares rally
(3:50 PM ET) SAN FRANCISCO (MarketWatch) -- Kaiser Aluminum Corp. /zigman2/quotes/206689806/composite KALU +0.95% shares rallied in Tuesday afternoon trade, gaining 7.7% to $63.10. The Foothill Ranch, Calif.-based company posted second-quarter net earnings of $34.7 million, or $1.71 a share, versus a year-ago net loss of $2.5 million, or 3 cents a share, reported by its predecessor company. Revenue rose to $385 million from $353.3 million a year ago. Kaiser emerged from Chapter 11 bankruptcy protection in July of 2006.
Clean Energy shares tumbled on second-quarter results
(3:40 PM ET) SAN FRANCISCO (MarketWatch) -- Clean Energy Fuels Corp. /zigman2/quotes/207288774/composite CLNE +3.86% shares fell 21% to $13.70 in Tuesday afternoon trade. Late Monday, the Seal Beach, Calif.-based natural gas provider reported a second-quarter net loss of $3.56 million, or 9 cents a share, versus a year-ago net loss of $1.06 million, or 3 cents a share. Excluding certain items, the company posted earnings of a penny a share. Revenue rose to $30.7 million from $21.5 million.
Parlux Fragrances quarterly loss narrows as revenue rises
(3:30 PM ET) SAN FRANCISCO (MarketWatch) -- Parlux Fragrances Inc.on Tuesday reported a first-quarter net loss of $97,628, or breakeven on a per-share basis, compared with a net loss of $14.1 million, or 78 cents a share, during the year-ago period. The Fort Lauderdale, Fla.-based cosmetics and accessories company said revenue for the three months ended June 30 rose to $31.4 million from $28.2 million a year ago.
Meridian Bioscience backs 2007 outlook, issues 2008 view
(1:32 PM ET) SAN FRANCISCO (MarketWatch) -- Meridian Bioscience Inc. /zigman2/quotes/202928219/composite VIVO -20.46% said Tuesday it still expects fiscal 2007 per-share earnings of 57 cents to 60 cents on revenue of $121 million to $124 million. The outlook excludes the impact of tax benefits of $2.4 million, or 6 cents a share, recognized in fiscal 2007 which are not expected to recur, the company said. Analysts polled by Thomson Financial are currently forecasting, on average, a per-share profit of 60 cents on revenue of $124 million for fiscal 2007. Additionally, the Cincinnati-based life sciences company said it expects fiscal 2008 per-share earnings of 72 cents to 75 cents on revenue of $140 million to $142 million. Analysts are looking for earnings of 72 cents a share on revenue of $141 million for fiscal 2008.
Ultrapetrol's quarterly profit falls
(11:48 AM ET) SAN FRANCISCO (MarketWatch) -- Ultrapetrol (Bahamas) Ltd. /zigman2/quotes/213512129/composite ULTR +0.06% on Tuesday reported a second-quarter net profit of $943,000, or 3 cents a share, down from $6.92 million, or 44 cents a share, in the year-ago period. Ultrapetrol's second-quarter included an unrealized non-cash mark-to-market net loss on FFA hedges of $3.1 million, or 10 cents a share, and a deferred income tax charge of $2.4 million, or 8 cents a share. The Bahamas-based industrial transportation company said revenue in the period ended June 30 rose to $55.4 million, from $46.9 million last year. Ultrapetrol's shares fell 8.4% to $19.85 in Tuesday morning trade.
GigaMedia's shares rise on second-quarter results
(11:36 AM ET) SAN FRANCISCO (MarketWatch) -- GigaMedia Ltd. /zigman2/quotes/204964238/composite GIGM +2.46% shares rallied in Tuesday morning trade, rising 12% to $12.10. The Taiwan-based provider of online entertainment software and services said second-quarter net income fell to $10.08 million, or 17 cents a share, from $11.2 million, or 18 cents a share, in the year-ago period, as revenue rose 88% to $40.1 million. Operating income jumped to $10.09 million from $4.61 million last year.
InterDigital outlines third-quarter recurring revenue range
(11:33 AM ET) SAN FRANCISCO (MarketWatch) -- InterDigital Inc. /zigman2/quotes/200883544/composite IDCC -1.08% said Tuesday it expects third-quarter recurring revenue for patent licensing and technology solutions in the range of about $53.5 million to $54.5 million. The outlook doesn't include any potential impact from new agreements that may be signed during the third quarter, or additional royalties identified during audits, the King of Prussia, Pa.-based maker of wireless technologies and products for voice and data communications said. Analysts polled by Thomson Financial are currently forecasting total revenue of $115 million for the quarter.
Physicians Formula swings to a loss; shares fall
(11:18 AM ET) SAN FRANCISCO (MarketWatch) -- Physicians Formula Holdings Inc.shares sank 30% to $9.80 in Tuesday morning trade. Late Monday, the Azusa, Calif.-based cosmetics company posted a second-quarter net loss of $523,000, or 4 cents a share, versus a year-ago net profit of $1.63 million, or 14 cents a share. Excluding certain items, the company reported a profit of a penny a share compared with 14 cents a share last year. Net sales fell 4.2% to $22.1 million from $23.1 million. The company also cut its outlook for the remainder of 2007. Physicians Formula now expects a 2007 per-share profit of 52 cents to 58 cents a share, or 66 cents to 72 cents a share excluding items, on net sales of $107 million to $111 million.