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With the global recovery gaining traction, most companies are witnessing improving fundamentals and are expected to post sales and EPS growth next year. However, following is a list of 32 mid cap companies for which sell side expects sales and EPS to decline in 2012.

Tkr

Company Name

Industry Name

EPS Next Yr Growth (%)

SALES Next Yr Growth (%)

NNI

NELNET INC.

FINANCE SVCS

-7.96

-7.08

UVV

UNIVERSAL CP VA

TOBACCO

-33.7

-21.49

PSE

PIONEER SOUTHWES

OIL

-14.56

-4.07

PRX

PAR PHARMACEUTIC

DRUGS

-3.18

-5.79

IVR

INVESCO MORTGAGE

FINANCE SVCS

-0.83

-1.25

VPHM

VIROPHARMA INC

BIOTECH

-40.9

-10.82

HTS

HATTERAS FINANCI

INVESTMENTS

-3.91

-0.99

MKSI

MKS INSTRUMENTS

SEMICONDUCT

-1.93

-0.13

RFMD

RF MICRO DEVICES

SEMICONDUCT

-6.96

-2.65

FRO

FRONTLINE

MARITIME

-68.71

-13.84

SVU

SUPERVALU INC

RET - FOODS

-7.61

-1.94

CECO

CAREER EDUCATION

INDUS SVCS

-6.21

-2

VECO

VEECO INSTRUMENT

SEMICONDUCT

-25.15

-7.18

ESI

ITT EDUC SVCS

OTH CON SVCS

-15.91

-8.04

ATK

ALLIANT TECHSYST

DEFENSE

-6.94

-0.53

AGO

ASSURED GUARANTY

INSURANCE

-6.69

-7.63

AIXG

AIXTRON

SEMICONDUCT

-16.71

-9.35

NVLS

NOVELLUS SYSTEMS

SEMICONDUCT

-3.06

-1.12

PDM

PIEDMONT OFFICE

INVESTMENTS

-20

-0.35

AGNC

AMERICAN CAPITAL

INVESTMENTS

-13.5

-5.27

WPO

WASH POST

COMMUNICAT

-18.02

-5.22

VSEA

VARIAN SEMI

SEMICONDUCT

-7.95

-0.81

UFS

DOMTAR CORP

FOREST PROD

-7.57

-1.59

PBI

PITNEY/BOWES

OFFC PRODS

-0.29

-1.31

CEPH

CEPHALON INC

BIOTECH

-30.3

-12.83

APOL

APOLLO GROUP

OTH CON SVCS

-31.66

-10.96

LRCX

LAM RESEARCH

SEMICONDUCT

-7.2

-0.15

GRMN

GARMIN

ELEC DEVCS

-1.83

-4.08

KLAC

KLA-TENCOR CORP

PHOTO-OPT EQ

-3.74

-1.85

IAG

IAMGOLD CORP

PREC METALS

-7.77

-4.76

TSP

TELESP

TELE UTIL

-3.07

-0.5

OTCPK:ESALY

EISAI LTD

DRUGS

-27.21

-15.18

Here are some of the specifics about these companies, including a brief description of their business, growth rates (topline and bottomline) and valuation:

Nelnet, Inc. is a transaction processing and finance company focused primarily on providing education related products and services to students, families, schools and financial institutions nationwide. Its EPS forecast for the current year is 4.23 and next year is 3.89. According to the consensus estimates, its topline is expected to decline 7.3% current year and 7.08% next year. It is trading at a forward P/E of 5.69. Out of five analysts covering the company, two are positive and have buy recommendations and three have hold ratings.

Universal Corporation is a leaf tobacco merchant and processor. Its EPS forecast for the current year is 4.6 and next year is 3.05. According to the consensus estimates, its topline is expected to decline 2.88% current year and 21.49% next year. It is trading at a forward P/E of 15. One analyst covers the company and has a hold rating.

Pioneer Southwest Energy Partners L.P. is a limited partnership formed to own and acquire oil and gas assets in the partnership's area of operations. The partnership's area of operations consists of onshore Texas and eight counties in the southeast region of New Mexico. Its EPS forecast for the current year is 3.00 and next year is 2.56. According to the consensus estimates, its topline is expected to decline 1.33% current year and 4.07% next year. It is trading at a forward P/E of 13.56. Out of seven analysts covering the company, three have sell recommendations and four have hold ratings.

Par Pharmaceutical Companies, Inc. is a holding company that, principally through its wholly-owned operating subsidiary, Par Pharmaceutical, Inc., is engaged in the business of developing, licensing, manufacturing and distributing generic and branded drugs in the United States. Its EPS forecast for the current year is 3.18 and next year is 3.08. According to the consensus estimates, its topline is expected to decline 15.44% current year and 5.79% next year. It is trading at a forward P/E of 10.5. Out of eight analysts covering the company, three are positive and have buy recommendations and five have hold ratings.

Invesco Mortgage Capital Inc. focuses on investing in, financing and managing residential and commercial mortgage-backed securities and mortgage loans. Its EPS forecast for the current year is 4.02 and next year is 3.99. According to the consensus estimates, its topline is expected to grow 119.12% current year and decline 1.25% next year. It is trading at a forward P/E of 5.4. Out of 11 analysts covering the company, 10 are positive and have buy recommendations and one has a hold rating.

ViroPharma Incorporated is a global biotechnology company dedicated to the development and commercialization of products that address serious diseases, with a focus on products used by physician specialists or in hospital settings. Its EPS forecast for the current year is 0.95 and next year is 0.56. According to the consensus estimates, its topline is expected to grow 2.26% current year and decline 10.82% next year. It is trading at a forward P/E of 35.70. Out of 16 analysts covering the company, 13 are positive and have buy recommendations, one has a sell recommendation and two have hold ratings.

Hatteras Financial Corp. is an externally managed mortgage real estate investment trust (REIT). Its EPS forecast for the current year is 4.27 and next year is 4.1. According to the consensus estimates, its topline is expected to grow 62.68% current year and decline 1% next year. It is trading at a forward P/E of 6.86. Out of 15 analysts covering the company, eight are positive and have buy recommendations and seven have hold ratings.

MKS Instruments, Inc. is a provider of instruments, subsystems and process control solutions that measure, control, power, monitor and analyze critical parameters to improve process performance and productivity of advanced manufacturing processes. Its EPS forecast for the current year is 2.98 and next year is 2.93. According to the consensus estimates, its topline is expected to grow 11.88% current year and decline 0.13% next year. It is trading at a forward P/E of 11.5. Out of four analysts covering the company, two are positive and have buy recommendations, one has a sell recommendation and one has a hold rating.

RF Micro Devices, Inc is a global leader in the design and manufacture of high-performance radio frequency components and compound semiconductor technologies. Its EPS forecast for the current year is 0.62 and next year is 0.57. According to the consensus estimates, its topline is expected to grow 7.89% current year and decline 2.65% next year. It is trading at a forward P/E of 11.14. Out of 20 analysts covering the company, 10 are positive and have buy recommendations, two have sell recommendations and eight have hold ratings.

Frontline Ltd. is a shipping company. The company is engaged primarily in the ownership and operation of oil tankers and oil/bulk/ore carriers, which are configured to carry dry cargo. Its EPS forecast for the current year is 1.71 and next year is 0.54. According to the consensus estimates, its topline is expected to decline 2.95% current year and 13.54% next year. It is trading at a forward P/E of 44.6. Out of 13 analysts covering the company, six are positive and have buy recommendations, four have sell recommendations and three have hold ratings.

Supervalu Inc. is a United States grocery channel. It conducts its retail operations under the Acme, Albertsons, Bristol Farms, Cub Foods, Farm Fresh, Hornbacher’s, Jewel-Osco, Lucky, Save-A-Lot, Shaw’s, Shop ’n Save, Shoppers Food & Pharmacy and Star Market banners as well as in-store pharmacies under the Osco and Sav-on banners. Additionally, the company provides supply chain services, primarily wholesale distribution, across the United States retail grocery channel. Its EPS forecast for the current year is 1.29 and next year is 1.19. According to the consensus estimates, its topline is expected to decline 7.41% current year and 1.94% next year. It is trading at a forward P/E of 7.5. Out of 16 analysts covering the company, one is positive and has a buy recommendation, three have sell recommendations and 12 have hold ratings.

Career Education Corporation offers education to a diverse student population of over 116,000 students worldwide in a range of career-oriented disciplines. Its EPS forecast for the current year is 2.63 and next year is 2.46. According to the consensus estimates, its topline is expected to decline 3.1% current year and 2% next year. It is trading at a forward P/E of 10.04. Out of 17 analysts covering the company, five are positive and have buy recommendations, two have sell recommendations and 10 have hold ratings.

Veeco Instruments Inc. designs, manufactures, markets and services enabling solutions for customers in the high brightness light emitting diode (HB LED), solar, data storage, scientific research, semiconductor and industrial markets. Its EPS forecast for the current year is 5.18 and next year is 3.88. According to the consensus estimates, its topline is expected to grow 15.75% current year and decline 7.18% next year. It is trading at a forward P/E of 12.73. Out of 20 analysts covering the company, 11 are positive and have buy recommendations, three have sell recommendations and six have hold ratings.

ITT Educational Services, Inc. is a provider of postsecondary degree programs in the United States. Its EPS forecast for the current year is 9.52 and next year is 8. According to the consensus estimates, its topline is expected to decline 7.63% current year and 8.04% next year. It is trading at a forward P/E of 9.85. Out of 19 analysts covering the company, five are positive and have buy recommendations, two have sell recommendations and 12 have hold ratings.

Alliant Techsystems Inc. is an aerospace and defense company. Its EPS forecast for the current year is 9.15 and next year is 8.51. According to the consensus estimates, its topline is expected to decline 0.81% current year and 0.53% next year. It is trading at a forward P/E of 8.41. Out of 15 analysts covering the company, seven are positive and have buy recommendations and eight have hold ratings.

Assured Guaranty Ltd. is a holding company that provides, through its operating subsidiaries, credit protection products to the public finance, infrastructure and structured finance markets in the United States, as well as internationally. Its EPS forecast for the current year is 3.48 and next year is 3.25. According to the consensus estimates, its topline is expected to decline 10.43% current year and 7.63% next year. It is trading at a forward P/E of 4.66. Out of eight analysts covering the company, three are positive and have buy recommendations and five have hold ratings.

Aixtron SE is a Germany-based provider of deposition equipment to the semiconductor industry. The company's technology solutions are used by a range of customers worldwide to build advanced components for electronic and opto-electronic applications based on compound, silicon, or organic semiconductor materials. Its EPS forecast for the current year is 1.99 and next year is 1.66. According to the consensus estimates, its topline is expected to grow 5.49% current year and decline 9.35% next year. It is trading at a forward P/E of 18.63. Out of eight analysts covering the company, one is positive and has a buy recommendation and seven have hold ratings.

Novellus Systems, Inc., together with its subsidiaries, develops, manufactures, sells and supports equipment used in the fabrication of integrated circuits, commonly called chips or semiconductors. Its EPS forecast for the current year is 3.84 and next year is 3.72. According to the consensus estimates, its topline is expected to grow 18.59% current year and decline 1.12% next year. It is trading at a forward P/E of 9.79. Out of 16 analysts covering the company, five are positive and have buy recommendations, two have sell recommendations and nine have hold ratings.

Piedmont Office Realty Trust, Inc. is a REIT. Its EPS forecast for the current year is 0.8 and next year is 0.64. According to the consensus estimates, its topline is expected to grow 31.21% current year and decline 0.35% next year. It is trading at a forward P/E of 30.31. Out of six analysts covering the company, two are positive and have buy recommendations, two have sell recommendations and two have hold ratings.

American Capital Agency Corp. is a real estate investment trust (REIT). Its EPS forecast for the current year is 5.31 and next year is 4.59. According to the consensus estimates, its topline is expected to grow 211.96% current year and decline 5.27% next year. It is trading at a forward P/E of 6.23. Out of 15 analysts covering the company, eight are positive and have buy recommendations and seven have hold ratings.

The Washington Post Company is a diversified education and media company. The company’s subsidiary, Kaplan, Inc., provides a variety of educational services, both domestically and outside the United States. Its EPS forecast for the current year is 20.48 and next year is 16.79. According to the consensus estimates, its topline is expected to decline 9.81% current year and 5.22% next year. It is trading at a forward P/E of 26.63. Two analysts cover the company and both have hold ratings.

Varian Semiconductor Equipment Associates, Inc. is a supplier of ion implantation systems, which the Company refers to as tools, used in the fabrication of integrated circuits, which it refers to as microchips or chips. Its EPS forecast for the current year is 4.1 and next year is 3.77. According to the consensus estimates, its topline is expected to grow 46.59% current year and decline 0.81% next year. It is trading at a forward P/E of 12.94. Out of 14 analysts covering the company, eight are positive and have buy recommendations, two have sell recommendations and four have hold ratings.

Domtar Corporation is an integrated manufacturer and marketer of uncoated freesheet paper in North America. Its EPS forecast for the current year is 8.97 and next year is 8.29. According to the consensus estimates, its topline is expected to decline 4.22% current year and 1.59% next year. It is trading at a forward P/E of 10.94. Out of 16 analysts covering the company, nine are positive and have buy recommendations, three have sell recommendations and four have hold ratings.

Pitney Bowes Inc. is a provider of mail processing equipment and integrated mail solutions. Its EPS forecast for the current year is 2.3 and next year is 2.29. According to the consensus estimates, its topline is expected to grow 2.81% current year and decline 1.31% next year. It is trading at a forward P/E of 11.19. Out of five analysts covering the company, one is positive and has a buy recommendation, one has a sell recommendation and three have hold ratings.

Cephalon, Inc. is a global biopharmaceutical company dedicated to discovering, developing and bringing to market medications to improve the quality of life of individuals around the world. Its EPS forecast for the current year is 8.49 and next year is 5.92. According to the consensus estimates, its topline is expected to grow 9.83% current year and decline 12.83% next year. It is trading at a forward P/E of 13.01. Out of 28 analysts covering the company, nine are positive and have buy recommendations, four have sell recommendations and 15 have hold ratings.

Apollo Group, Inc. is a private education provider. The Company offers educational programs and services both online and on-campus at the undergraduate, master’s and doctoral levels. Its EPS forecast for the current year is 4.69 and next year is 3.21. According to the consensus estimates, its topline is expected to decline 5.46% current year and 10.96% next year. It is trading at a forward P/E of 12.94. Out of 22 analysts covering the company, nine are positive and have buy recommendations and 13 have hold ratings.

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the worldwide semiconductor industry. Its EPS forecast for the current year is 5.93 and next year is 5.5. According to the consensus estimates, its topline is expected to grow 53.04% current year and decline 0.15% next year. It is trading at a forward P/E of 10.24. Out of 16 analysts covering the company, seven are positive and have buy recommendations, four have sell recommendations and five have hold ratings.

Garmin Ltd., is a provider of navigation, communication and information devices and applications, which are enabled by global positioning system technology. Its EPS forecast for the current year is 2.35 and next year is 2.31. According to the consensus estimates, its topline is expected to decline 8.62% current year and 4.08% next year. It is trading at a forward P/E of 14.68. Out of 19 analysts covering the company, two are positive and have buy recommendations, four have sell recommendations and 13 have hold ratings.

KLA-Tencor Corporation is a supplier of process control and yields management solutions for the semiconductor and related nanoelectronics industries. Its EPS forecast for the current year is 4.5 and next year is 4.33. According to the consensus estimates, its topline is expected to grow 66.18% current year and decline 1.85% next year. It is trading at a forward P/E of 10.66. Out of 18 analysts covering the company, eight are positive and have buy recommendations, one has a sell recommendation and nine have hold ratings.

IAMGOLD Corporation is a Canada-based mining and exploration company. IAMGOLD’s interests include seven operating gold mines and a niobium producer, a diamond royalty, and exploration and development projects located throughout Africa and the Americas. Its EPS forecast for the current year is 1.42 and next year is 1.31. According to the consensus estimates, its topline is expected to grow 36.79% current year and decline 4.76% next year. It is trading at a forward P/E of 17.58. Out of 11 analysts covering the company, eight are positive and have buy recommendations and three have hold ratings.

Telecomunicacoes de Sao Paulo S.A. provides fixed-line telecommunications services in the state of Sao Paulo, Brazil. Telesp provides international and interregional long-distance services. Its EPS forecast for the current year is 2.42 and next year is 2.35. According to the consensus estimates, its topline is expected to grow 4.78% current year and decline 0.5% next year. It is trading at a forward P/E of 10.96. Out of 10 analysts covering the company, one is positive and has a buy recommendation, four have sell recommendation and five have hold ratings.

Eisai Co., Ltd. is a Japan-based company mainly engaged in the manufacture and sale of pharmaceutical products. Its EPS forecast for the current year is 2.94 and next year is 2.14. According to the consensus estimates, its topline is expected to grow 7.64% current year and decline 15.18% next year. It is trading at a forward P/E of 16.26. One analyst covers the company and has a hold rating.

Source: 32 Mid Caps With Sales and EPS Declining in 2012