SCI meets 4Q expectations
SCI Systems (NYSE: SCI) met analyst estimates in the fourth quarter.
After market close Wednesday, the contract electronics manufacturer reported fiscal fourth quarter net income of $57 million, or 38 cents per share. First Call consensus -- including the effect of goodwill writedowns -- predicted a profit of 38 cents per share.
Excluding amortization costs, SCI earned 42 cents per share.
Fourth quarter revenue increased 28 percent year-over-year to $2.3 billion. Business from communications equipment makers generated about 25 percent of SCI's fourth quarter revenue, said Gene Sapp, chairman and CEO.
SCI reported a backlog of nearly $4.4 billion at the end of the June quarter.
For the full fiscal year, SCI earned $196.7 million, or $1.34 per share, on revenue of $8.3 billion. If amortization expense is excluded, SCI earned $1.45 per share in fiscal 2000.
SCI shares rose inched up 1/8 to 44 3/4 in Wednesday's regular trading, prior to the earnings report.
Other companies reporting quarterly results:
Shares of ECI fell to 35 1/4 in afterhours activity on the Island electronic communications network, following the release of quarterly results. ECI rose 5/16 to 36 5/16 in Wednesday's regular trading prior to the earnings report.
The maker of telecom networking equipment reported second quarter net income of $37.1 million, or 40 cents per share, excluding special charges. First Call consensus predicted a profit of 37 cents per share for the quarter ended June 30.
Including all charges, ECI earned $6.7 million, or 7 cents per share.
However, ECI executives said they're not satisfied with their market valuation and announced a plan to restructure ECI into five separate, independent, public companies for digital cross connects, optical networking, access, next generation telephony and Innowave products.
"These companies will continue to benefit from the strength, global distribution network and strong customer relations of ECI via its well positioned regional business units," said Doron Inbar, chairman and CEO. "We may experience some short-term impacts as a result of our efforts to strategically restructure the company. Gross margins will decline for the reasons mentioned above. We will accelerate strategic investments in the new product lines, which will enhance our newly independent units, but may impact operating margins.", to be paid Aug. 31 to shareholders of Aug. 10 record.
ECI also announced an interim quarterly cash divided of 5 cents per share
Second quarter revenue increased 17 percent year-over-year to $317.2 million, although the company's access business improved 47 percent and its transport revenue grew 40 percent.
Shares of Hyperion traded at 27 1/2 in afterhours activity on Island. The stock rose 2 1/8 to 27 9/16 in Wednesday's regular session, before the earnings report.
The business analysis software vendor reported fiscal fourth quarter net income of $9.1 million, or 27 cents per share, not counting one-time events. That result was in line with First Call's consensus forecast.
Fourth quarter revenue increased 33 percent year-over-year to $148.1 million.
For the full fiscal 2000, Hyperion earned $28.8 million, or 87 cents per share, on revenue of $496.9 million.>