Roundup: Jabil passes, Manugistics misses expectations
Jabil Circuit (NYSE:JBL) edged past the published consensus forecast in the first quarter.
After market close Thursday, the contract electronics manufacturer posted fiscal first quarter net income of $31.2 million, or 34 cents per share, excluding a one-time expense. First Call's survey of 25 analysts predicted a profit of 33 cents per share.
Including a $5.2 million acquisition-related charge, Jabil earned $26.5 million, or 29 cents per share.
First quarter revenue rose to $690 million, a 29 percent sequential gain and a 39 percent improvement from $495 million in the year-ago period, when Jabil earned $20 million, or 24 cents per share.
"We are pleased with the results for our fiscal first quarter and with our positioning for an outstanding fiscal 2000," said Timothy L. Main, Jabil's president. "We are concurrently ramping new customers and programs across all of our facilities. We are very pleased to see continued strong organic growth and are pleased to have immediate contributions from our two recent acquisitions. We are also encouraged by our diversified business model of over 30 meaningful customers as we enter this fiscal year."
Shares of Jabil closed Thursday's regular trading at 71 1/2, a gain of 6 11/16 for the session. Among 27 analysts polled by Zack's Investment Research, 13 maintain the equivalent of "moderate buy" ratings on Jabil, 11 recommend it as a "strong buy", and three have "hold" advisories on the stock.
In other earnings related news Thursday:
Manugistics Group (Nasdaq: MANU) fell short of analyst estimates in the third quarter.
The maker of enteprise software posted a fiscal third quarter net loss of $4.8 million, or 17 cents per share. Published research forecasts ranged from losses of 5 cents to 11 cents per share.
Shares of Manugistics fell to 21 1/2 in afterhours trading. The stock closed Thursday's regular market session at 24 1/2.
Third quarter revenue of $35.8 million represents a 17 percent decline from a year earlier. License fees of $14.6 million were down 5 percent year-over-year, but up 35 percent from the second quarter. Service revenue slid 23 percent to $21.2 million from $27.7 million.
"We continue to demonstrate increased momentum in sales execution as evidenced by the 35 percent sequential growth in license fee revenues," said Gregory J. Owens, president and CEO. "We are making significant investments to transform Manugistics into an eBusiness company ... While these investments widened the loss in the quarter, we believe these strategic initiatives will better position us for the future in the business-to-business eCommerce market."
Maxtor (Nasdaq: MXTR) said it expects to report a net loss per share of 18 cents or less, compared to the Wall Street consensus estimate of a net loss of 45 cents per share for the fourth quarter.
Unit shipments and revenue will also be up significantly from the 5.9 million units and $589 million in sales it reported for the third fiscal quarter, the company said in a statement.
In addition to strong demand, Maxtor said it was benefiting from the price increases it initiated earlier in the quarter.
Tibco Software (Nasdaq: TIBX) exceeded analyst predictions in the fourth quarter.
The provider of e-commerce software reported a fiscal fourth quarter profit of $31,000, or basically break-even on a per-share basis, excluding one-time charges. First Call's survey of three analysts predicted a loss of 3 cents per share for the quarter ended Nov. 30.
Including non-cash charges related to stock compensation and acquired in-process R&D, Tibco lost $6.6 million, or 11 cents per share. Excluding one-time events and writedowns of goodwill, Tibco earned $600,000, or a penny per share.
Fourth quarter revenue increased to $33.3 million, a 96 percent gain from $17 million in the year-ago period, and a 39 percent improvement from the third quarter.
For the full fiscal year, Tibco lost $6.9 million, or 12 cents per share, on revenue of $96.4 million. The company picked up 200 new customers during the year.>