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BMC tops 3Q forecasts, raises 4Q estimates

    BMC Software (Nasdaq:BMCS) topped analysts' raised estimates in the third quarter told Wall Street to increase its fourth quarter targets.

    After market close Thursday, the maker of mainframe and client-server software reported fiscal third quarter earnings of $58.8 million, or 24 cents per share, excluding special charges but including a one-time gain of 2 cents per share. Analyst consensus predicted a profit of 19 cents per share for the BMC's December quarter, according to earnings tracking firm First Call.

    That consensus forecast was already higher than originally expected. BMC earlier this month boosted third quarter expectations.

    Also Thursday, BMC increased its fourth quarter forecasts. The company sees fourth quarter earnings of 23 to 25 cents per share, on revenue of $401 million to $409 million. First Call consensus was predicting a fourth quarter profit of 22 cents per share on revenue of $387 million.

    Shares of BMC traded at 29.5625 in afterhours activity on the Island electronic communications network, following the earnings report. BMC rose 4.6875 to 30.3125 in Thursday's regular trading ahead of the third quarter report.

    Thursday's report marks the latest good news for BMC, which is rebounding after reporting disappointing results for much of 2000. Mainframe software vendors blamed last year's softness on customers waiting for new products from IBM (NYSE: IBM).

    New mainframes recently started shipping from IBM, but BMC's bullish fourth quarter outlook doesn't factor that in; the new machines probably won't affect BMC's results until the first or second quarter, executives said.

    BMC generated $385.5 million in third quarter revenue, down from the $426.4 million in the year-ago period but up from $323 million in the second quarter.

    Other companies reporting quarterly results Thursday:

  • Dallas Semiconductor
  • (NYSE: DS) Thursday reported fourth quarter earnings that matched analyst forecasts as sales rose 21 percent to surpass a half-billion dollars amid strong growth in communications circuits.

    The maker of specialty chips posted fourth quarter net income of $22.4 million, or 35 cents a share, compared with $19.5 million, or 31 cents a share, in the year-ago period.

    Sales rose to $130.1 million from $107.5 million, helped by companies building up communications infrastructure.

    The consensus analyst forecast for Dallas Semiconductor was for a profit of 35 cents, according to First Call.

  • Emulex
  • (Nasdaq: EMLX) reported second-quarter earnings that far surpassed Wall Street's estimates and forecast a more robust third quarter than expected.

    The maker of adapters for Fibre Channel networks reported net income of $19.36 million or 25 cents per diluted share, compared with income of $8.77 million or 11 cents per diluted share in the year-ago period. Net income for the quarter included a one-time gain from a strategic investment of $1.9 million or one cent a share.

    Net revenues rose to $71.08 million for the second quarter, up 112 percent from the $33.6 million it reported in the same quarter a year ago.

    Emulex said in a statement it continued to see sequential quarterly revenue growth of 11 percent, and saw total revenues rising to as much as $80 million for the third quarter ending in March. It predicted operating margin could rise to 34 percent in the third quarter and 32 percent in the fourth quarter, vs. prior estimates of a 30 percent operating margin.

    The company also forecast pro-forma diluted earnings per share of 23 cents for the third quarter, up from its prior forecast of 19 cents a share.>