Amerco 2Q Profit Falls Associated Press 11.07.07, 5:56 PM ET Amerco Inc., the holding company of moving and storage operator U-Haul International Inc., said Wednesday its fiscal second-quarter profit fell 18 percent on lower self-moving equipment rental revenue and higher depreciation costs.
But the results pleased investors, and Amerco (nyse: AOPRA - news - people ) shares rose $1.36, or 2.3 percent, to $60.42 in aftermarket trading, after falling $4.25, or 6.7 percent, to $59.06 in the regular session.
For the quarter ended Sept. 30, after the payment of preferred dividends, Amerco earned $47.2 million, or $2.39 per share, compared with $57.3 million, or $2.74 per share, for the same quarter in 2007.
The 2007 quarter included a one-time after-tax charge of 20 cents per share related to the company's second-quarter debt amendment. Excluding that charge, the company posted an adjusted profit of $2.94 per share for the 2007 period.
Total revenue fell less than a percent to $600.6 million from $606.3 million in the year-ago quarter.
Revenue from self-moving equipment rentals fell 1.3 percent to $439.8 million, while self-storage revenue increased 2.1 percent to $33.1 million. Depreciation costs jumped 29 percent to $55.7 million. http://www.forbes.com/feeds/ap/2007/11/07/ap4314151.html
Amkor Technology revenue down, shares fall Microchip packaging and testing company Amkor Technology Inc (AMKR.O: Quote, Profile , Research) on Wednesday posted a drop in third-quarter revenue and a weak fourth-quarter outlook, sending shares down nearly 10 percent.
Citing pricing pressure, Amkor said revenue fell 3.5 percent to $689 million from $714 million a year earlier.
"Third-quarter 2007 sales reflect the impact of product mix and to a lesser extent a degree of pricing pressure experienced on select packages during the quarter," said Ken Joyce, chief financial officer of Amkor.
For the fourth quarter, the company expects net income in the range of 25 cents to 30 cents per diluted share.
Amkor forecast revenue would rise slightly from the third quarter in the fourth, while analysts on average expected revenue of $735.9 million and earnings of 32 cents.
Third-quarter net income was $61 million, or 30 cents per share, compared with net income of $53 million, or 27 cents per diluted share, in the third quarter of 2006. Tax gains helped boost earnings.
Excluding an after-tax gain and an income tax benefit, Amkor posted earnings of 27 cents per share, topping the Wall Street target of 26 cents, according to Reuters Estimates.
Mentor 2nd-qtr profit rises on breast implant revs Mentor Corp (MNT.N: Quote, Profile , Research) said on Wednesday that quarterly profit fell, but matched estimates, as revenues rose on strong demand for its MemoryGel silicone breast implants.
Income from continuing operations slipped to $10.0 million, or 27 cents per share, for its second quarter ended in September, from the year-earlier $10.8 million, or 24 cents per share. The most recent period had fewer shares outstanding.
The latest results matched the average analyst estimate, as compiled by Reuters Estimates, and included charges of 2 cents from the company's purchase of Perouse Plastie.
Net income was 26 cents per share versus 22 cents a year ago.
Revenue rose 28 percent to $85.4 million.
The company reiterated its fiscal 2008 outlook calling for sales of $370 million to $385 million, and diluted earnings from continuing operations of $1.40 to $1.45 per share on about 42 million outstanding shares.
Visual Sciences 3Q adjusted profit tops consensus forecast 11.07.07, 6:11 PM ET Visual Sciences Inc. late Wednesday reported a third-quarter net loss of $1.03 million, or 5 cents a share, or adjusted earnings of $3.09 million, or 15 cents a share.
Analysts polled by Thomson Financial were expecting, on average, a per-share profit of 12 cents.
In the same quarter last year, the San Diego-based company posted a net loss of 10 cents a share and an adjusted profit of 16 cents a share.
Cogent Communications Q3 loss narrows Internet access and protocol provider Cogent Communications Group Inc (CCOI.O: Quote, Profile, Research) posted a narrower third-quarter loss, but shares fell about 5 percent.
"Shares are down because on-net revenue growth is below guidance and incremental EBITDA margins came lighter than expected," Jefferies & Co. analyst Jonathan Schildkraut said by e-mail.
The company's third-quarter on-net revenue grew 6.5 percent to $37.6 million sequentially, missing the growth forecast of 7 percent to 9 percent provided in August.
For the quarter, the company reported adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $11.7 million, which was below Wall Street's view for EBITDA of $12.0 million.
The company posted a third-quarter loss of $5.4 million, or 12 cents a share, compared with a loss of $11.9 million, or 24 cents a share in the year-ago period. Net service revenue rose 24 percent to $47 million.
Analysts on average were expecting Cogent to post a loss of 21 cents a share, excluding items, on revenue of $46.9 million, according to Reuters Estimates.
Cogent also forecast fourth-quarter loss of 17 cents to 22 cents a share, including items, on net service revenue of $49 million to $50 million. Analysts on average are expecting a loss of 21 cents a share, on revenue of $49.0 million. http://www.reuters.com/article/marketsNews/idUSBNG2436020071107
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