Earnings Reports for Aug. 15
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Lycos Surpasses Expectations
Internet media company Lycos hastopped Wall Street expectations with its fourth quarter earnings.
After the close of regular trading, the Waltham,Massachusetts-based company reported 12 cents a share, afternon-recurring items. That beat the First Call consensus by four cents.
Revenue of almost $88 million easily surpassed the $46million in the year ago period.
Lycos says worldwide traffic to its network averaged 201million page views in July, up 36 percent from the previousquarter. Minutes of usage per visitor climbed 36 percent for theyear.
Registered users rose 17 percent to 61 million worldwide,with new users signing up at a rate of more than 100-thousanddaily.
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Revenues Up 85% at Analog Devices
Analog Devices Inc. said third-quarter earnings nearly tripled, beating analysts’ estimates, on strong demand for computer chips that transform sound and video into digital signals for mobile phones and digital cameras. Excluding a one-time gain, Analog Devices said it earned $164.5 million, or 43 cents a share, in the third quarter, compared with $54.6 million, or 15 cents a diluted share, in the year-ago period. Net sales rose 85 percent to $700.6 million from $379 million in the year-ago quarter. Analysts surveyed by First Call/Thomson Financial had estimated the company would report a profit of 37 cents per share.
“These guys have a very diversified portfolio sold across several industries,” said Richard Faust, an analyst at Adams, Harkness & Hill. Faust rates the company’s stock as an accumulate.
Analog’s strong third quarter runs counter to the concerns expressed by some analysts that the semiconductor industry’s current boom cycle is approaching its peak.
“We continue to benefit from accelerating demand for increased bandwidth as Internet usage continues to grow dramatically,” said Jerald Fishman, the chief executive of Analog Devices. “We are also seeing strong growth for products used in wireless infrastructure applications and wireless Internet appliances.”
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Staples Beats Lowered ExpectationsStaples, the No. 2 U.S. officeproducts retailer, said today its second-quarter earnings fell about 19 percent, but still beat analysts’consensus estimates, on better-than-expected sales from retail stores and its online business.
Framingham, Mass.-based Staples said it earned $42.56 million, or 10 cents a share, during the second quarter, compared with $52.74 million, or 11cents a share, during the same quarter of the previous year.
Wall Street analysts on average had estimated Staples would report earnings of 9 cents a share, according to First Call/Thomson Financial, whichtracks earnings data.
Total sales for the second quarter increased 20 percent to $2.2 billion, up from $1.84 billion, while sales at same-store stores, those open at least oneyear, grew 10 percent. Same-store sales include the Staples.com retail Web site.
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