Nortel Networks (NT) sees $0.48 Q2 loss from operations on $4.5B revenues and sees
a $19.2B Q2 net loss including charges from discontinuation
of access solutions operations, layoffs, plant closures, and a write
down of intangibles. Nortel will discontinue its dividend payout.
JDS Uniphase (JDSU) sees Q4 sales of about $600M vs. previous guidance of
$700M, and sees a $0.06-$0.08 Q4 loss, including inventory
write-downs. JDS expects $450M Q1 FY 02 sales. S&P
downgraded to avoid.
General Semiconductor (SEM) sees about $0.01-$0.03 Q2 EPS on 15%-17% revenue
decline, citing a continued weakness in demand from most
of its end markets.
Tribune Co. (TRB) cut Q2 EPS from operations guidance to $0.22. The company says revenues and
newspaper advertising volume for the period ended May 27
were $432M, down 10% from year ago. S&P maintains
Diamondcluster (DTPI) sees $0.02 Q1 EPS from operations on $57M-$60M revenues,
citing continued weak demand in North America and Europe.
Circuit City (CC) posted $0.05 vs. $0.28 Q1 EPS on a 13% sales
Microsoft (MSFT) shares are lower in pre-market trading on rumors Microsoft will
report a profit warning. Microsoft reportedly denies any
such news forthcoming.
Microchip Technology (MCHP) says it's tracking well towards earlier guidance for
$138M Q1 sales and says cancellations and push-outs are slowing and inventory have been significantly reduced.
S&P upgraded to accumulate.
United Microelectronic (UMC) sees about 35% Q2 sequential revenue decline and an operating
loss due to weaker than expected market environment and a
slow economic recovery. The company says Q3 visibility remains
Adobe Systems (ADBE) posted $0.34 (pro forma) vs. $0.26 Q2 EPS on 15% revenue
rise. Adobe expects flat Q3 revenues.
Charles River Labs (CRL) raised Q2 EPS guidance to $0.21-$0.22 on sales that
should slightly exceed the high end of the company's earlier
guidance of $110M-$114M.
Dendrite (DRTE) expects a $0.05 Q2 loss from operations on flat revenue and sees
$0.30-$0.45 2001 EPS from operations on revenue growth of
Net2phone Inc. (NTOP) posted a $0.41 Q3 loss from continuing operations vs. a $0.21 loss as
higher costs offset sharp a revenue rise. The company and Liberty
Media announce that Liberty will license Net2Phone's Voice
over IP technology for five years.
Pinnacle Systems (PCLE) sees about breakeven Q4 (pro forma) on $60M-$64M sales,
which is about 10% less than previoiusly expected.
Rainbow Technology (RNBO) sees a $0.06-$0.09 Q2 loss vs. previous guidance of
breakeven, and expects Q2 revenues to be down about 5%.
Quanta (PWR) sees $0.35-$0.38 Q2 EPS on about $500M revenues and sees $1.73-
$1.77 2001 EPS on about $2.2B revenues, citing greater
than expected contract delays, cancellations and reduced
United Auto Group (UAG) expects to exceed $0.30 Q2 consensus EPS estimate by
$0.05, and the $1.07 2001 estimate by $0.09, citing continued revenue and
gross profit growth.
customer demand for radial aircraft tires.
Lantronix (LTRX) filed to offer 9 million