Seeking Alpha
  • Wednesday, July 9, 2014

  • 6:15 PM
    • Citing a "lack of consistent momentum in utility and construction spending in North America and Latin America as well as ongoing headwinds expected in Spain and Thailand," General Cable (BGC) now expects 2014 op. income of $200M-$230M vs. prior guidance of $230M.
    • The company is cutting 1K jobs (nearly 7% of its workforce) as part of a restructuring. It expects to record $200M in pre-tax charges, and $80M in cash costs. Annual savings are expected to total $75M by early 2016.
    • Full Q2 results are due on July 30.
    | Comment!
  • 5:51 PM
    • DragonWave (DRWI) expects FQ2 revenue to be up 25%-40% Q/Q in FQ2. That spells a range of $36M-$40M, soundly above a $34M consensus.
    • Gross margin rose to 20.5% in FQ1 from 14.5% in FQ4 and 11.5% a year ago. Opex -10% Y/Y to $12.1M.
    • The "Nokia channel" accounted for 61% of revenue vs. 68% in FQ4 and 57% a year ago. Cash/equivalents fell to $15.6M at the end of FQ1 from $19M at the end of FQ4.
    • FQ1 results, PR
    | 1 Comment
  • 5:35 PM
  • 5:30 PM
  • 5:11 PM
    • Dragonwave (DRWI): Q1 EPS of -$0.11 beats by $0.02.
    • Revenue of $28.8M (+17.4% Y/Y) beats by $1.84M.
    • Shares +12.5% AH.
    • Press Release
    | Comment!
  • 5:08 PM
    • NovaGold Resources, Inc (NG): FQ2 EPS of -$0.03 in-line.
    • Shares +0.71% AH.
    • Press Release
    | Comment!
  • 4:43 PM
    • Lumber Liquidators (LL) reports Q2 sales of $263.1M (+2.3% Y/Y), and expects to report EPS of $0.59-$0.61. Those figures are well below a consensus of $303.2M and $0.90. Gross margin is expected to be down Y/Y.
    • The company now forecasts full-year sales of $1.05B-$1.1B and EPS of $2.65-$3.00, below a consensus of $1.16B and $3.34. Same-store sales are expected to be up by a low-single digit %, down from prior guidance of mid-to-high single-digit growth.
    • Same-store sales fell 7.1% Y/Y in Q2, much worse than Q1's 0.6% drop and a big reversal from last year's 14.9% growth. SG&A spend rose an estimated 9% Y/Y.
    • CEO Robert Lynch: "Customer traffic to our stores was significantly weaker than we expected, particularly in geographic areas severely impacted by the unusually harsh weather in the first quarter ... Our reduced customer traffic has coincided with certain weak macroeconomic trends related to residential remodeling, including existing home sales."
    • He adds LL now believes "the prolonged purchase cycle associated with our customers' discretionary, large-ticket home improvement projects is likely to be delayed for some customers into the fall flooring season, and for others, into spring of 2015."
    • Shares fell 8.1% in regular trading ahead of the warning.
    | 3 Comments
  • 4:40 PM
    • API Technologies (ATNY): FQ2 EPS of -$0.27 misses by $0.26.
    • Revenue of $53.2M (-17.1% Y/Y) misses by $4.2M.
    • Press Release
    | Comment!
  • 4:26 PM
    • Tractor Supply (TSCO) had Q2 sales of $1.58B (+8.8% Y/Y), below a $1.6B consensus. The company expects Q2 EPS of $0.94-$0.95, below a $1.02 consensus. Gross margin is expected to be flat Y/Y.
    • Moreover, Tractor Supply now forecasts full-year revenue, EPS, and same-store sales will be at the low end of prior guidance ranges of $5.62B-$5.7B, $2.54-$2.62, and 2.5%-4%. Revenue and EPS consensus are at $5.67B and $2.62.
    • Same-store sales rose 1.9% Y/Y in Q2, down from 2.2% in Q1 and 7.2% a year ago. Solid traffic and strong sales of consumable, usable, and edible products was partly offset by weak sales of seasonal products (mostly in Northern regions), ongoing softness in TSCO's safe category, and deflation.
    • Full Q2 results arrive on July 23.
    | Comment!
  • 4:17 PM
    • GenCorp (GY): FQ2 EPS of -$0.86
    • Revenue of $403.1M (+40.6% Y/Y)
    • Press Release
    | Comment!
  • 4:16 PM
    • Biomet (BMETannounces preliminary results for the fiscal fourth quarter and fiscal year ended May 31.
    • Fiscal Q4: revenues: $845M (+7.7%); knee sales growth: 5.1%; S.E.T. sales growth: 5.9%; CF Ops: $203.4M (+4.5%); quick assets: $247.6M (-30.4%).
    • Fiscal 2014: revenues: $3,223.4M (+5.6%); knee sales growth: 5.9%; S.E.T. sales growth: 7.9%; CF Ops: $529.0M (+12.9%).
    • Final results will be reported in the company's 10-K.
    | Comment!
  • 4:11 PM
    • CHC Group (HELI): FQ1 EPS of -$0.29 beats by $0.02.
    • Revenue of $453M (+3.2% Y/Y) misses by $15.93M.
    • Press Release
    | Comment!
  • 4:09 PM
    • WD-40 (WDFC): FQ3 EPS of $0.69 misses by $0.04.
    • Revenue of $95.7M (+2.8% Y/Y) misses by $3.46M.
    • Shares -1.04% AH.
    • Press Release
    | Comment!
  • 4:02 PM
    • Helen of Troy (HELE): Q1 EPS of $0.83 misses by $0.10.
    • Revenue of $311M (+2.1% Y/Y) misses by $3.55M.
    • Shares -3.18% AH.
    • Press Release
    | Comment!
  • 1:18 PM
    • ChipMOS (IMOS +1.5%) had June revenue of $60.3M, -1.6% M/M and +4.7% Y/Y. For the whole of Q2, revenue was $181.2M, +8.5% Q/Q and +9.6% Y/Y.
    • The company previously guided for Q2 revenue to rise 8%-12% Q/Q thanks to strong LCD driver and memory market demand. ChipMOS notes both small- and large-panel LCD driver sales were soft during 2H June.
    • Nonetheless, gross margin is now expected to be at the high end of a prior guidance range of 21%-24%. Q1 GM was 19.8%.
    | 1 Comment
  • 10:17 AM
    • Synergy Resources (SYRG +0.3%) meanders between small gains and small losses after reporting FQ3 earnings that matched expectations while revenue fell short of analysts' estimates despite a 108% Y/Y increase due to improved production.
    • Oil and natural gas production increased to 4,120 boe/day, up 83% Y/Y but below expectations due to a delayed completion on the sixth well of SYRG's six-well Phelps pad; Brean Capital retains its Buy rating, believing the output shortfall is more a function of the timing of multi-well, pad-based completions than of asset performance (Briefing.com).
    • SYRG also says it will add a third Ensign drilling rig to its program to drill at least eight horizontal wells on its Weideman lease.
    | Comment!
  • 8:38 AM
    • Gentiva Health Services (GTIV) reports that Q2 revenues will be at least $496M, EBITDA $52M and diluted EPS at least $0.33.
    • The company also reaffirms its 2014 guidance: net revenues: $1.9B - 2.1B; adjusted EBITDA: $177M - 195M; diluted EPS: $0.85 - 1.15.
    • The company should report final Q2 results in late July.
    | Comment!
  • 7:39 AM
    | Comment!
  • 7:02 AM
    • MSC Industrial Direct (MSM): FQ3 EPS of $1.06 in-line.
    • Revenue of $720.5M (+13.1% Y/Y) misses by $6.76M.
    • Press Release
    | Comment!
  • 6:53 AM
    • Healthcare Services Group (HCSG) revenues: $319.3M (+16.7%); cost of services: $275.8M (+17.6%); SG&A: $22.2M (+14.4%); operating income: $21.2M (+8.2%); net income: $13.9M (+7.8%); EPS: $0.20 (+5.3%); quick assets: $68.4M (-9.5%).
    | Comment!
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