SCI Systems (NYSE: SCI) met the consensus estimate in the third quarter.
After market close Monday, the contract electronics manufacturer reported fiscal third quarter net income of $49.7 million, or 34 cents per share, including amortization. That was in line with a First Call consensus forecast that included goodwill costs.
Excluding goodwill writedowns, SCI earned 37 cents per share.
Third quarter revenue rose 38 percent year-over-year to $2.2 billion from $1.6 billion.
"Diversification of products together with growth in telecommunication products stimulated the revenue and operating margin growth in what has been a historically down sequential quarter for SCI," said A. Eugene Sapp, president and CEO and incoming chairman. "Our product diversification strategy is not only providing growth, but is also abating some of the seasonal trends the Company has seen in past years, particularly in the personal computer business."
Company founder Olin B. King confirmed plans to give up his chairman post on June 30. SCI's board plans to replace King with Sapp, who will keep his executive titles, the company said.
Shares of SCI closed Monday's regular trading at 45 1/8, down 1 5/8.
Other companies reporting quarterly results Monday:
The ISP and data services provider for small and medium size businesses reported a first quarter loss of $52.9 million, or $1.07 per share, excluding gains related to stock sales. First Call's survey of 10 analysts predicted a loss of 75 cents per share, or the same as in the first quarter of 1999.
Including $62.4 million in stock gains, Concentric earned $9.5 million, or 19 cents per share.
First quarter revenue rose to $57 million, up 89 percent year-over-year and up 24 percent sequentially. Revenue in the latest quarter reported includes $7.7 million from the recently acquired Internet Technology Group. About 18 percent of first quarter revenue came from WebTV Networks, compared to 22 percent in the fourth quarter.
The maker of chip fabrication equipment reported fiscal second quarter net income of $5.2 million, or 18 cents per share. First Call's survey of five analysts predicted a profit of 14 cents per share for the quarter ended Mar. 31.
Second quarter revenue of $54.3 million represented a 110.4 percent improvement year-over-year and 9.6 percent gain sequentially.
Gross margin rose to 54.3 percent from 52.1 percent in the first quarter and 46.2 percent in the second quarter of fiscal 1999.
New bookings of $75.9 million were up 21.6 percent from the first quarter, with gains mainly coming from the United States and Japan.
Because the sale was approved Monday, C-Cube's first quarter revenue includes only the results of the semiconductor division. The maker of digital video chips reported first quarter net income of $1.3 million, or 3 cents per share, on revenue of $61 million.
That net income includes $1.55 million from DiviCom and a $7.35 million charge related to the sale of the unit.
"We are excited about the spin-off of the semiconductor business," said Umesh Padval, who will take over as C-Cube CEO after the merger closes in early May. "We have made significant progress globally with our customers and strategic partners in our expansion platforms."
The Internet consulting firm reported first quarter net income of $12.65 million, or 19 cents per share, excluding amortization costs and one-time charges. Including all items, Sapient earned $11.89 million, or 18 cents per share.
First Call's survey of 17 analysts predicted a profit of 17 cents per share for the quarter ended Mar. 31.
Revenue in the first quarter rose 74 percent year-over-year to $100.33 million.
"We have made solid progress on our key business drivers during the first quarter," CFO Edward G. Goldfinger said. "In particular, the initiatives we have undertaken to be more effective in the areas of pricing and collection have paid off in strong top line growth, earnings and cash flow."
The marketing software provider reported a first quarter net loss of $3.8 million, or 17 cents per share, excluding amortization. First Call consensus predicted a loss of 20 cents per share.
Including amortization, Net Perceptions loss $7.6 million, or 34 cents per share.
First quarter revenue of $9.5 million was up 51 percent sequentially. Revenue was 26 percent ahead of the consensus analyst forecast.
Pro forma operating margin improved to negative 47 percent from negative 53 percent in the fourth quarter and negative 148 percent in the first quarter of 1999.
Eleven of 18 new customers sell through multiple channels, Net Perceptions said, adding that less than 25 percent of the company's revenue came from "pure" Internet companies.>