Today - Friday, January 30, 2015
- Honda (NYSE:HMC) cut its annual operating profit forecast by 6.5% today, as it faced sluggish sales in Japan and set aside more cash to cover an expanded Takata (OTCPK:TKTDY) air bag recall.
- Third-quarter earnings skidded 22.5% to ¥177.2B from ¥228.57B in the same period a year earlier.
- Meanwhile, the NHTSA has stepped up pressure on Takata, offering legal protection to any whistleblowers with knowledge "of possible defects or any wrongdoing."
Thursday, January 29, 2015
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- NetSuite (NYSE:N) guides on its Q4 CC for Q1 revenue of $160M-$162M, below a $162.6M consensus. Full-year guidance is for revenue of $715M-$725M vs. a $722.9M consensus.
- The cloud ERP/HR software vendor ended Q4 with a deferred revenue balance of $300.9M, +42% Y/Y. Subscription/support revenue rose 36% in Q4 to $126.7M, and professional services revenue 46% to $31.2M. Operating expenses rose 36% to $128.3M.
- Shares didn't budge in AH trading. NetSuite has plenty of company among enterprise software firms in offering a conservative outlook, as forex pressures hit the industry at large.
- Q4 results, PR
- With the Senate weighing a bipartisan effort to let companies repatriate offshore cash for five years at a 6.5% rate, Google (NASDAQ:GOOG) CFO Patrick Pichette states on the Q4 CC the passage of such a bill would change how his company spends. He adds ~60% of Google's cash is offshore, and ~40% domestic. (CC live blogs: WSJ, BI)
- Google ended Q4 with $64.4B in cash/marketable securities, and $5.2B in debt. Speculation that dividends and/or buybacks might finally happen has grown a bit lately. Pichette says Google has nothing to announce regarding capital returns, but also insists Google does care about its stock price and reviews the matter with its board.
- Chief business officer Omid Kordestani states YouTube's mobile revenue more than doubled Y/Y. YouTube, which is trying hard to grab brand ad dollars from TV advertisers, has already disclosed mobile now accounts for ~40% of its global viewing time.
- Other CC highlights: 1) Google saw $150M worth of forex hedging gains in Q4. If not for them, forex's revenue impact would've been above $600M. 2) Pichette suggests Google would be hiring even more employees if it could find enough qualified personnel. 3) Over $900M of Google's capex went into real estate purchases.
- GOOG now +1.4% AH. Q4 results, details.
- Mitek (NASDAQ:MITK) ended FQ1 with 3,304 financial institutions signed as Mobile Deposit clients, up from 3,026 at the end of FQ4. 2,744 clients were live.
- The company states both Mobile Deposit and Mobile Photo Account Opening contributed to its FQ1 revenue growth. Software revenue rose by nearly $600K Y/Y to $3.7M, and maintenance/professional services revenue by $350K to $1.6M.
- Costs/expenses fell 12% to $5.26M. Mitek ended 2014 with $26.9M in cash/short-term investments, and no debt.
- Shares had rallied strongly this week going into earnings. They're at $4.18 AH.
- FQ1 results, PR
- Though it beat Q4 estimates, SolarWinds (NYSE:SWI) is guiding for Q1 revenue of $116.2M-$118.4M (+21%-23% Y/Y) and EPS of $0.43-$0.46, unfavorable at the midpoints to a consensus of $118.3M and $0.46. Many other enterprise software firms have also provided light guidance, thanks in part to forex pressures.
- License revenue rose 14% Y/Y in Q4 to $45M, and subscription revenue 138% to $9.3M. Maintenance/other revenue grew 19% to $64.1M.
- SWI -0.7% AH. Q4 results, PR.
- Deckers (NYSE:DECK) guides for 10% Y/Y FQ4 revenue growth and breakeven EPS; consensus is for 11% growth and EPS of $0.13. FY15 (ends March. '15) UGG revenue growth guidance has been lowered to 11% from 14%.
- FQ3 UGG brand revenue +6.5% to $736M; Teva brand -12.1% to $13.6M; Sanuk brand -7.9% to $20.5M; other brands +96.5% to $14.6M.
- Retail sales +8.3% to $192.7M, e-commerce +25.2% to $146.9M. U.S. revenue grew just 3.1% to $526.3M; international +14.6% to $258.4M.
- Gross margin rose 180 bps to 52.9%, but SG&A spend rose to 25.6% of revenue from 23.7%. $13.3M was spent on buybacks.
- CEO Angel Martinez: "Full price selling of casual boots, weather boots, and specialty classics exceeded expectations and in some cases outpaced our inventory investments. At the same time, demand for core Classic collection accelerated as the quarter progressed but overall sales were down due in part to a slow October and November selling period and tough year-over-year comparisons. Along with foreign exchange headwinds, this led to the revenue shortfall for the quarter."
- FQ3 results, PR
- InvenSense (NYSE:INVN) has guided on its FQ3 CC (webcast) for FQ4 revenue of $95M-$98M and EPS of $0.11-$0.13. The former is above a $92.2M consensus, and the latter in-line with a $0.12 consensus.
- FQ3 gross margin (non-GAAP) was 45.7%, up from FQ2's 37.2% (hurt by an ~800 bps inventory charge) but down from 50.9% a year ago and unfavorable to guidance of ~46%-47%. FQ4 GM guidance is also at ~46%-47%;
- InvenSense says it sees a flat to slightly improving GM environment over the next 2-3 quarters. Margin worries also contributed to last October's post-earnings plunge.
- Smartphones/tablets were 81% of revenue in FQ3, gaming 3%, and optical image stabilization/other 16%. InvenSense's top two customers (presumably Apple and Samsung) made up 69% of revenue (specifically, 45% and 24%) vs. 55% in FQ2.
- Shares are down to $13.90 in AH trading.
- FQ3 results, PR
- Majesco's (NASDAQ:COOL) Wii/WiiU revenue fell 70% Y/Y in FQ4 (ended in October) to $944K. Likewise, its DS/3DS revenue fell 71% to $1.3M.
- On the other hand, PS3/PS4 revenue rose over 5x to 1.7M. Xbox 360/One revenue fell 3% to $1.3M, and accessories/other rose 29% to $1M.
- Operating costs/expenses fell 11% to $4.7M. Majesco ended October with $7.2M in cash; new financing was obtained in December.
- Shares are down to $1.05 AH.
- FQ4 results, PR
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