1/6 AVID $59~$55~$46 $0.03 worse than the Reuters Estimates consensus of $0.72; revenues rose 40.0% year/year to $245 mln vs the $246.6 mln consensus.... sees Q1 EPS of $0.45-$0.55 vs $0.59 consensus, and revs down 5-7% sequentially of $2.80-$3.00 vs $2.90 consensus, and revs of $1.02-1.06bln vs $1.038 bln consensus
CRM $40~$38~$33... $0.05 vs $0.05; revenues, lite guidance ...revs rose 66.8% year/year to $91.1 mln vs the $91.7 mln consensus. CRM reports paying sub adds 48k vs 50k street expectations. Co issues downside guidance for Q1, sees EPS of $0.02-0.04 vs. $0.05 Reuters consensus and $0.04 First Call consensus; sees Q1 revs of $99-101 mln vs. $101.79 mln consensus. Co issues downside guidance for FY07, sees EPS of $0.20-0.22 vs. $0.24 consensus; sees FY07 revs of $470-475 mln vs. $473.99 mln consensus.
More from Salesforce CEO on C.N.B.C. (CRM) 34.01 -0.39: CRM says customers are adding users, an indication to the co that the economy is strong. Co also takes credit for being first to predict recession in 2000.
Salesforce.com Conference Call Summary (CRM) 34.40 +0.79: Salesforce.com addresses reliability of its service on call; co says it's recently replaced all of its tech, and that led to "challenging days" during the qtr. Co says it considers its service problems uncharacteristic. CRM says it's working w/ its tech partners to solve reliability problems. Co touts its in-line Q4 performance, co says it had 48,000 new subs, totaling 399,000 worldwide, w/52k in Europe. CRM says service reliability in Feb. was 99.7%; co says it will publish reliability/availability data so customers can monitor it via the Salesforce.com site at trust.salesforce.com. Co says Q4 benefited from some year-end effects, such as customers spending year-end budget dollars. CRM makes clear that it expects "lumpiness" in its subs numbers going forward. CRM on call says it expects subs growth in Q1 to be more in line w/ trends of Q1 and Q3 last year. Co says it is being conservative with Q1 ests. CRM says it wants to make an even stronger investment in R&D for future architectures, as co says it now has a higher goal of reliability than it did previously. Co makes clear that will likely affect gross margins, not necessarily capex, as CRM leases most of its equipment. CRM estimates stock comp costs of $45 mln for full year '06. Co talks about App Exchange at length, but co won't talk about the revs contribution from the product, only will reference growth in apps tied to it... Stock Trades down $1.49 to $32.91 after hours.
PAAS* $24~$22~$25 misses by $0.06, to up silver production 13% in Y06 (PAAS) 23.72 : Reports Q4 (Dec) net of breakeven, ex items, $0.06 worse than the Reuters Estimates consensus of $0.06; revenues rose 26.1% year/year to $37.9 mln. Espejo.
CEO comments, "In 2006 we expect to increase annual silver production another 13% to 14.1 million ounces enroute to increasing our annual production to 25 million ounces by the end of 2008."
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