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Tech Industry

STOCKS TO WATCH: Amazon, Applied Micro, BMC, LSI

Expect the following technology stocks to be among Wednesday's most actively traded issues: Amazon.com, Applied Micro Circuits, BMC Software and LSI Logic.

  • Amazon.com (Nasdaq: AMZN)

    The online retailer will be on the move Wednesday after topping its own revised estimates in the first quarter, losing $76 million, or 21 cents a share, on sales of $700 million.

    First Call consensus pegged it for a loss of 24 cents a share.

    In the year-ago quarter, Amazon.com lost $308 million, or 90 cents a share, on sales of $574 million.

    "This was another quarter of significant progress for Amazon.com. We are on track to reach our objective of pro forma operating profitability in the coming December quarter,'' said Chief Financial Officer Warren Jenson in a prepared release.

    Amazon.com shares closed off 52 cents to $15.68 ahead of the report before moving up to $15.80 in after-hours trading.

  • Applied Micro Circuits (Nasdaq: AMCC)

    The communications chipmaker will be active after it met analysts' reduced earnings estimates in its fourth quarter Tuesday but dramatically reduced its sales and earnings estimates for the first quarter.

    In the quarter, Applied Micro Circuits earned $28.3 million, or 9 cents a share, on sales of $121.1 million.

    Following its profit warning earlier this quarter, analysts' reduced the First Call consensus estimate to a profit of 9 cents a share and sales of $124.5 million.

    Applied Micro Circuits (Nasdaq: AMCC) shares closed off $1.62 to $23.98 ahead of the earnings report before falling to $23.79 in after-hours trading.

    "Obviously this was a very difficult quarter," said Chief Executive Officer David Rickey during a conference call with analysts. "What started out as a very good quarter in January came unglued as the quarter progressed."

    The $121.1 million in sales represents a 112 percent improvement from the year-ago quarter when it pocketed $21 million, or 8 cents a share, on sales of $57 million.

    "Right now, visibility into the (first) quarter is very poor," Rickey said. "We believe the June quarter will be the low-water mark although we can't be completely sure."

    Rickey told analysts to expect first-quarter sales of between $70 million and $85 million and earnings of between breakeven and 2 cents a share.

    First Call consensus was expecting a profit of 7 cents a share on sales of $107 million.

  • BMC Software (NYSE: BMC)

    BMC will be active after it topped analysts' estimates in its fourth quarter, raking in $65.8 million, or 26 cents a share, on sales of $422.8 million.

    Analysts were expecting a profit of 24 cents a share in the quarter.

    However, the enterprise software maker warned in a conference call that it expects first-quarter earnings of 11 cents to 14 cents per share on revenues of $355 million to $365 million.

    Analysts on average had expected the company to post earnings of 24 cents per share for the first quarter.

    The company said the first quarter would by the only quarter in 2002 in which earnings would fall below year-earlier 2001 results.

    For the full year, BMC said it expects revenues to increase by 12 percent to 15 percent.

    Its shares closed up 47 cents to $27.15 ahead of the earnings report.

  • LSI Logic (NYSE: LSI)

    LSI should provide interesting theater Wednesday after it met analysts' estimates in its first quarter but also lowered estimates for the second quarter.

    LSI earned $9.5 million, or 3 cents a share, on sales of $517 million.

    First Call consensus expected it to earn 3 cents a share on sales of $524.4 million.

    Its shares closed off 40 cents to $19.50 ahead of the earnings report.

    The $517 million in sales marks a 16 percent decline from the year-ago quarter when it earned $88 million, or 26 cents a share, on sales of $615 million.

    Chief Executive Officer Wilfred Corrigan told analysts that second-quarter sales will likely fall between 10 percent and 15 percent from the first quarter and that it will post a loss of 7 cents a share.

    Analysts were projecting sales of $479 million and a profit of 1 cent a share.