Freddie Mac Estimates that 2005 Net Income Dropped 11%

Mattel prevails in patent lawsuit; LeapFrog loses lawsuits; Raytheon ups its dividend and sets a stock buyback; plus more stocks in the news Friday

Freddie Mac (FRE) says an estimate of regulatory core capital implies it had 2005 net income of $2.5 billion, down about 11% vs. a year ago. It says its total mortgage portfolio grew 12% in 2005 to $1.7 million. It plans to post 2005 results in late May.

Mattel(MAT) says it prevailed in a patent infringement lawsuit brought against it by LeapFrog Enterprises (LF). It notes that a federal court in Delaware ruled Mattel did not infringe a patent held by LeapFrog, and that the claim in question was invalid.

LeapFrog Enterprises (LF) says the court ruled in favor of the defendant, Fisher-Price, in patent litigation filed by LeapFrog in Oct. 2003.

Raytheon (RTN) raises its dividend 9% to 96 cents per share. It sets a $750 million stock buyback plan.

Mohawk Industries (MHK) lowers its first quarter earnings per share (EPS) guidance to between $1.03 and $1.05. It cites higher-than-expected accounting charges, lower-than-anticipated growth in sales, and margins in the Mohawk segment.

Cognos (COGN) posts better-than-expected 48 cents vs. 58 cents fourth quarter EPS on a 1.2% revenue decline. But it sees lower-than-expected 15 cents to 19 cents first quarter EPS on $210 million to $218 million revenue, and $1.20 to $1.27 fiscal year 2007 EPS on $940 million to $960 million revenue (both include stock-option expense).

Genesis Microchip (GNSS) sees lower-than-expected fourth quarter revenue of $60 million to $61 million, and gross margin of 43% (vs. previous guidance of 46% to 48%.) It cites weaker-than-expected demand for flat-panel TV controllers in Europe and digital CRT TV controllers in China.

Boston Properties (BXP) plans to register 3.25 million shares with the Securities and Exchange Commission (SEC) for a public offering by stockholders. It also says its Boston Properties L.P. unit plans to offer about $400 million of exchangeable notes under existing shelf registration.

Orchid Cellmark (ORCH) says it will not file its Form 10-K for 2005 with the SEC by its recently extended deadline of Mar. 31. It cites delay in completing its audit of 2005 consolidated financial statements and other factors.

Peerless Systems (PRLS) posts 9 cents vs. 7 cents fourth quarter EPS on a 16% revenue rise. It sees first quarter revenue of $9 million to $9.5 million. It says CFO Bill Neil is to retire.

Astea (ATEA) posts 25 cents fourth quarter loss vs. 6 cents EPS despite an 8% revenue rise. It says it concluded that it overcapitalized software in the first three quarters of 2005; this resulted in aggregate charge of 8 cents EPS.

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