Bloomberg the Company & Products

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

Baird Downgrades Kronos


Baird downgrades Kronos Inc. (KRON) to neutral.

Analyst Mark Marcon says he downgrades from outperform as the company's 34 cents second-quarter earnings per share is below his 35 cents estimate and the Street's 37 cents estimate, due to disruptions/distortions stemming largely from sales force reorganization.

He says $120.6 million sales missed guidance and product revenue rose just 3% year-over-year and fell 13% sequentially. He notes product gross margin fell 180 basis points due to reduced leverage, increased mix of lower-margin HRMS, payroll, and acquired scheduling software.

Marcon says the company's guidance was below consensus. He cuts his $1.70 fiscal 2005 (ending September) earnings per share estimate to $1.61, and $2.00 fiscal 2006 to $1.81. He cuts his $56 target to $43.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus