Month: July 2011

Orthopedic devices maker, Wright Medical Group ( WMGI ) reported second-quarter fiscal 2011 (excluding one-time items other than stock-based compensation expense) earnings per share of 19 cents, surpassing the Zacks Consensus Estimate of 17 cents while exceeding the year-ago earnings of 15 cents. The company posted a net income of $6.1 million (or 16 cents per share) in the reported quarter versus $4.8 million (or 13 cent per share) a year ago. Net income for second-quarter 2011 included the after-tax impact of about $2.4 million of expenditure related to the company’s deferred prosecution agreement (“DPA”). […]

Second quarter GDP growth came in at just 1.3%. That is far below consensus expectations of 1.7% growth. I had thought the consensus was too high and was penciling in growth of 1.5% […]

(EDITOR’S NOTE: This article is a continuation of our recently-published " Read ‘Em & Weep: GDP In Depth, pt. 1 .") Government Spending Government spending subtracted 0.23 points to growth in the second quarter, down from a 1.23 (1.20) point drag in the first quarter, and a 0.58 (0.34) point drag in the fourth quarter. I should point out that in the GDP accounts it is only government consumption and investment that is counted as part of G. […]

Integrated oil and gas company TOTAL S.A. ( TOT ) reported second-quarter 2011 operating earnings of $1.78 per share (€1.24 per share), below the Zacks Consensus Estimate of $2.09 per share. Operating earnings in the reported quarter however gained 5.9% from $1.68 per share (€1.32 per share) in the year-ago period. […]

On July 28, The Interpublic Group of Companies Inc. ( IPG ) reported its financial results for the second quarter of 2011 with net results improving over the year-ago quarter. The diluted earnings per share were 19 cents in the reported quarter compared with 15 cents per share a year ago. […]

Pharmaceutical Product Development, Inc. ( PPDI ) reported second quarter 2011 earnings of 41 cents per share, above the year-ago earnings of 18 cents per share as well as the Zacks Consensus Estimate of 38 cents. Earnings growth was driven by higher revenue and reduced research & development (R&D) expenses […]

VeriSign, Inc. ( VRSN ) reported a net loss of $10.6 million or $0.06 per diluted share compared to a net income of $35.2 million or $0.19 per share in the year-ago quarter. Excluding one-time items but including stock-based compensation expense, net income came in at $0.32 per share, beating the Zacks Consensus Estimate of $0.30. […]

Omnicell Inc. ( OMCL ) reported EPS of 8 cents during the second quarter of fiscal 2011, beating both the Zacks Consensus Estimate and the year-ago quarter EPS of 6 cents. […]

Portfolio Recovery Associates Inc. ( PRAA ) generated second-quarter income from continuing operations of $26.11 million or $1.51 per share, surpassing the Zacks Consensus Estimate of $1.42 and the prior-year earnings of $19.5 million or $1.14 per share. Income for the reported quarter was $25.6 million or $1.48 per share after including $1.2 million or 7 cents per share on account of ongoing non-cash equity-based compensation expense and $0.69 million or 4 cents per share on account of profit from sale of real property. […]

Spanish telecom giant Telefonica ( TEF ) reported disappointing first half results with earnings per share of €0.70 ($1 per ADS) declining 16.1% year over year. Net income dropped 16.3% year over year to €3.2 billion ($4.6 billion) due to lingering economic domestic downturn, intense competition and increased operating costs. […]

Energy storage and power delivery products maker, Maxwell Technologies Inc. ( MXWL ) reported second quarter 2011 adjusted earnings of 4 cents per share, beating the Zacks Consensus Estimate of a penny. Results also beat the year-ago quarterly loss per share of a penny […]

Republic Services, Inc. ( RSG ) reported fiscal 2011 second quarter results, posting an EPS of 12 cents in the quarter, declining sharply from 42 cents in the year-earlier quarter. The quarter noted some special items including 32 cents related to a loss on extinguishment of debt and 5 cents pertaining to loss on disposal of assets and impairments […]

A premier Canadian integrated energy company, Suncor Energy ( SU ) reported lackluster second quarter 2011 results, bruised by lower volumes, project hindrances along with higher depreciation and impairment. Earnings per share, excluding certain items, came in at 62 Canadian cents (64 U.S. cents) in the quarter, lagging the Zacks Consensus Estimate of 66 cents. […]

Enbridge Energy Partners L.P. ( EEP ) has reported second-quarter 2011 adjusted earnings of 32 cents per unit, which came in well below the Zacks Consensus Estimate of 39 cents and the year-earlier profit of 43 cents. Results were lower than expected mainly due to higher operating costs in liquids and natural gas segments. […]