Month: August 2011

Microchip Technology Incorporated ( MCHP ) reported net revenues of $374.5 million in the first quarter of fiscal 2012, down 1.4% sequentially but up 4.9% year-over-year. The results were in-line with the preliminary results released by the company in July. Management stated that the company saw broadbased weakness in business due to a number of factors […]

Williams Partners L.P. ( WPZ ) has registered second-quarter 2011 earnings of 91 cents per limited-partner unit, which surpassed the Zacks Consensus Estimate of 85 cents. The quarter’s results also improved almost 38% from the year-ago profit of 66 cents per unit […]

Plains Exploration & Production Co. ( PXP ) posted second-quarter 2011 operating earnings of 54 cents per share, beating the Zacks Consensus Estimate of 52 cents and the year-ago profit of 26 cents. The company excelled in the quarter due to higher production levels as well as better price realizations. […]

Procter & Gamble Co. ( PG ) reported modest results for the fourth quarter of 2011. […]

Brian Marckx, CFA Major Hurdle Cleared With ISO Certification Verisante Technology ( VRS ) announced in late July that they obtained ISO 13485:2003 certification for manufacture of medical devices. As we have detailed in our coverage of Verisante, successfully gaining ISO certification was the most significant near-term milestone to gaining regulatory approval of Aura in Canada, Europe and Australia – the expected initial markets for their skin cancer detection device. With the ISO certification now in-hand, Verisante can begin to finalize the required deliverables to gain Health Canada approval – which could be filed with regulators in the coming weeks. […]

EOG Resources Inc. ( EOG ), a major independent oil and gas exploration and production company, has reported stellar adjusted second-quarter 2011 results on the back of almost 50% crude oil production growth. Quarterly adjusted earnings of $1.11 per share topped the Zacks Consensus Estimate of 79 cents and showed a substantial improvement from 18 cents earned in the year-earlier quarter […]

Pipeline operator Energy Transfer Partners L.P. ( ETP ) announced disappointing second quarter 2011 results, hurt by lower natural gas volumes and higher operating expenses. The owner of the biggest intrastate pipeline system in Texas reported earnings per unit of 19 cents, which came in way below the Zacks Consensus Estimate of 30 cents […]

Telecom services provider Cincinnati Bell Inc. ( CBB ) has reported second quarter adjusted earnings of 7 cents per share, missing the Zacks Consensus Estimate by a penny and deteriorating 4 cents from the year-ago earnings. Revenues grew 8.5% year over year to $367.5 million in the reported quarter but was below the Zacks Consensus Estimate of $357 million. […]

Ocwen Financial Corporation ( OCN ) reported second quarter 2011 earnings of 25 cents per share, missing the Zacks Consensus Estimate by 2 cents. However, this compares favorably with the prior-year quarter earnings of 23 cents. The results for the reported quarter excluded $0.5 million expenses related to the Litton acquisition, along with $0.7 million of incremental amortization of upfront fees and original issue discount on its Senior Secured Term Loan (SSTL) related to the final prepayment of this loan […]

We are reiterating our Neutral recommendation on the shares of Torchmark Corp. ( TMK ) following the second quarter 2011 results. The company posted core operating earnings of $1.14 per share, a dime ahead of the Zacks Consensus Estimate […]