Tech earnings continued to impress as a host of companies topped expectations Thursday morning. Andrew Corp., Micrel, Made2Manage, New Era of Networks, Neoforma.com and ValueClick reported results.
Andrew Corp. (Nasdaq: ANDW), which makes wireless communications equipment, reported fiscal second quarter earnings of $17.3 million, or 21 cents a share. First Call consensus expected profits of 16 cents a share. The company said sales were up 41 percent to $242.7 million. Micrel (Nasdaq: MCRL) beat Wall Street estimates by two cents with first quarter earnings of $14.2 million, or 30 cents a share. First quarter sales were a record $67.3 million, up 66 percent from $40.6 million a year ago and up 12 percent sequentially. Micrel also said acquired Electronic Technology Corp., a developer of power management and mixed-signal integrated circuits. Micrel makes mixed signal and analog ICs. Made2Manage (Nasdaq: MTMS), an enterprise software vendor reported a first quarter net loss of $584,000, or 12 cents a share, on sales of $7.3 million. The results beat estimates by a penny, but sales were down from $8.9 million a year ago. The company said sales rebounded from the fourth and third quarters, which were hit by a Year 2000 slowdown. Neoforma.com (Nasdaq: NEOF), operator of a business-to-business network for health care products, reported a first quarter net loss of $32 million, or 61 cents a share, on a pro forma basis, which assumes the conversion of all preferred stock outstanding. Excluding the amortization of deferred compensation, depreciation of equipment, amortization of goodwill and in process research and development, Neoforma reported a net loss of $17.5 million, or 34 cents a share. First Call consensus was expecting a loss of 51 cents a share, including goodwill expenses. Revenue for the quarter was $1.2 million.
New Era of Networks (Nasdaq: NEON), which makes e-business software, checked in with first quarter earnings of 4 cents a share excluding charges. The results doubled First Call consensus estimates. Sales surged to $42.1 million in the quarter. Including one-time items, New Era reported a loss of $5.9 million, or 17 cents a share. ValueClick (Nasdaq: VCLK), an Internet advertising firm, reported first quarter sales of $11 million, and earnings of $496,000, or 4 cents a share, excluding stock-based compensation charges. First Call didn't have estimates for the newly public company. Including charges, ValueClick lost $801,000, or 6 cents a share. The company completed its IPO March 31.
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