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Roundup: Iomega meets 2Q forecasts

Iomega Corp. (NYSE: IOM) met analysts' estimates in its second quarter Thursday, losing $19.8 million, or 7 cents a share, on sales of $348.8 million.

Its shares closed off 1/16 to 4 11/16 ahead of the earnings report.

First Call consensus predicted the disk-drive maker would lose 7 cents a share in the quarter.

In the year-ago period, it lost $39.9 million, or 15 cents a share, on sales of $393.8 million.

Iomega said it shipped 2.5 million Zip drives in the second quarter, a jump of 27 percent over the second quarter of 1998. It also shipped 17.2 million Zip disks, an increase of 24 percent over the year-ago quarter.

Iomega shares were trading at a 52-week high of 10 3/16 in January.

  • HNC Software Inc.
  • (Nasdaq: HNCS) The maker of software for predicting customer behavior handily topped Wall Street forecasts in the June quarter.

    Second quarter operational income rose to almost $8.1 million, or 22 cents a share, not including acquisition-related costs and amortization expenses. First Call's survey of six analysts predicted a profit of 19 cents a share.

    Revenue gained 30 percent year-over-year, to $55.9 million from $43.1 million.

    Including acquisition costs and acquisition related amortization expense, HNC earned 13 cents per share in the second quarter.

  • Veritas Software Corp.
  • (Nasdaq: VRTS) In its first quarter with recently acquired businesses Seagate Software and TeleBackup Systems, Veritas topped analyst expectations by two cents a share.

    The provider of storage management software for corporate networks reported pro forma second quarter net income of $29.2 million, or 16 cents a share, not including one-time charges and purchase accounting amortization, and adjusted to reflect last week's 2-for-1 stock split. First Call's survey of 17 analysts predicted earnings of 14 cents a share for the quarter ended June 30.

    On a pro forma basis, which includes the operating results of Seagate Software NSMG and TeleBackup Systems for the full quarter in both the second quarter of this year and last year, Veritas saw revenue growth of 70 percent year-over-year, to $155.7 million from $91.6 million.

    Veritas Software's as-reported revenue for the second quarter, including one month of operating results for Seagate Software NSMG and TeleBackup Systems, was $114.6 million, compared with $48.1 million for the same period last year.

  • Metricom Inc.
  • (Nasdaq: MCOM), which watched its stock scamper up to a 52-week high of 56 ? last week, reported a second quarter loss of $16.6 million, or 86 cents a share, on sales of $4.7 million.

    There was no First Call consensus estimate for Metricom this quarter.

    Shares of the wireless Internet access provider went nuts in the past three weeks.

    Its shares closed off 2 3/4 to 38 1/4 ahead of the earnings report.

  • MMC Networks Inc.
  • (Nasdaq: MMCN) beat Street estimates by a penny a share in its second quarter Thursday, raking in $4.1 million, or 12 cents a share, on sales of $19.3 million.

    First Call consensus expected it to earn 12 cents a share in the quarter.

    The stock closed up 3 1/2 to 49 1/2 ahead of the report.

    The $19.3 million in sales represents a 61 percent improvement versus the year-ago period when it earned $1.3 million, or 4 cents a share, on sales of $12 million.

    The stock hit a 52-week high of 50 1/2 in June after falling to a low of 7 3/4 in October.

  • Multex.com Inc.
  • (Nasdaq: MLTX) The online provider of brokerage research reports lost 3 cents less than analysts anticipated.

    A second quarter net loss of $3.3 million translated into a loss of 9 cents a share. Revenues rose 97 percent year-over-year, to $6.1 million, from $3.1 million. Registered users for the Multex Network increased 82 percent over the quarter, to 460,000 at the end of June from 2522,000 in March.

    The company expects more than half a millions registered users for the network by next week, said Isaac Karaev, chairman and CEO.