Following are highlights of quarterly earnings results announced this week:
Positive surprises
Acclaim Entertainment (AKLM) earned 16 cents a share in the fiscal first quarter, 3 cents more than the Zacks consensus estimate. Revenue rose 14 percent to $104.8 million, led by strong sales of sports games. Shares of Acclaim dipped 1 3/4 to 10 9/16. Alpha Industries (AHAA) posted fiscal third-quarter earnings of 44 cents a share, 4 cents above the Wall Street consensus estimate and 50 percent above the profit of 30 cents in the same quarter a year ago. Alpha makes integrated circuits and products for communications equipment. Shares fell 3 to 36 3/4.Ethan Allen Interiors Inc. (ETH) earned a second-quarter profit of 75 cents a share, 2 cents better than the consensus estimate. Last year the company reported a second-quarter profit of 65 cents a share. The company attributes the earnings increase in the second quarter to 11.3 percent growth in wholesale sales and a 23.7 percent increase in operated retail division sales. Shares slipped 1 3/4 to 43 7/8. Chip giant Intel Corp. (INTC) posted a profit of $1.19 a share. The consensus estimate of analysts surveyed by First Call was a profit of $1.07 a share. In the fourth quarter of 1997, the company earned 98 cents a share. Shares rose 3 1/8 to 138 11/16.Home builder Kaufman and Broad Home Corp. (KBH) posted fourth-quarter earnings of $1.02 a share, well above the First Call consensus estimate of 87 cents. Revenue rose 27.7 percent to $826.6 million from $647.3 million in the same period a year earlier. Shares fell 5/8 to 28 1/4. Linear Technology (LLTC) shares rose 2.4 percent Wednesday morning after the maker of linear integrated circuits posted fiscal second-quarter earnings of 59 cents a share, 2 cents above the First Call consensus estimate. The company also announced a 2-for-1 stock split. Shares rose 2 1/4 to 89 7/8. Rawlings Sporting Goods (RAWL) posted a narrower-than-expected loss of 3 cents a share for the first quarter. Analysts expected a loss of 4 cents a share. Shares closed fell 1/2 to 11 3/8.Shares of Seagate Technology Inc. (SEG) rose on the company's stronger-than-expected earnings report. The company posted net income of $104 million, or 42 cents a share. Revenue for the quarter hit $1.8 billion. Analysts expected a profit closer to 26 cents a share. "We are encouraged by the effectiveness of the programs implemented to date and are anticipating additional benefits by the end of the calendar year," said Stephen Luczo, president and chief executive officer. Shares rose 11/16 to 39 5/8.Strattec Security Corp. (STRT) shares rose 1.3 percent after the company said it earned 81 cents a share in the fiscal second-quarter, 11 cents ahead of the First Call consensus and well above the 59-cent profit in the year-ago quarter. The maker of security products for the automotive industry saw revenue rise 0 percent to $54.5 million, from $49.7 million in the quarter. Shares rose 3/8 to 28 1/2.Yahoo! (YHOO) posted fourth-quarter pro forma net income of $25 million, or 21 cents a share. That number exceeded earnings expectations by 5 cents a share. The pro forma results exclude one-time items related to acquisitions. Shares fell 26 to 376.Negative surprises
Shares of Beyond.com (BYND) fell 21 percent on news of a wider-than-expected loss of 53 cents a share. The consensus estimate on Wall Street was a 47-cent loss. Shares of the software retailer fell 7 5/8 to 29 3/8.Century Communications (CTYA) posted a fiscal second-quarter loss of 33 cents a share vs. Wall Street's estimated 22-cent loss. Shares of the cable television system owner and operator fell 7/16 to 31 1/4.DSP Communications (DSP) also posted a disappointing fourth-quarter earnings report. Earnings for the quarter were 24 cents a share, vs. the consensus estimate of 25 cents a share. Shares fell 1 1/4 to 17 1/8.Shares of Kent Electronics (KNT) suffered after the company posted a loss of 3 cents a share. Analysts polled by First Call expected a loss of 2 cents a share. Shares fell 11/16 to 11 13/16.Written By Barbara C. Costanza, CBS MarketWatch