Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Lehman Cuts Networks Associates to 'Equal-Weight'


Lehman Brothers downgraded Networks Associates (NET) to equal-weight from overweight.

Analyst Israel Hernandez says his downgrade is based on continued weakness in European operations, particularly with Sniffer. He says lukewarm channel checks suggest near-term market share erosion in the anti-virus market and the likelihood that 2002 and 2003 consensus estimates will prove too aggressive the given current operating environment.

Hernandez cut the data security company's third-quarter estimate to $0.11 earnings per share on $205 million revenues, from $0.12 earnings per share on $210 million revenues. He cut the fourth quarter estimates to $0.18 earnings per share on $235 million revenues, from $0.20 earnings per share on $250 million revenues.

For 2002 Hernandez trimmed the estimates to $0.49 earnings per share on $855 million revenues, from $0.52 earnings per share on $875 earnings per share revenues, and lowered the 2003 estimate to $0.68 earnings per share on $966 million revenues from $0.70 earnings per share on $1 billion in revenues.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus