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VeriSign swings to a loss on restructuring charges

VeriSign Inc. said Thursday that it swung to a net loss in the second quarter because of restructuring charges, while revenue also fell for the period. The Mountain View, Calif.-based network security company reported a net loss of $4.7 million, or 2 cents per share, compared to earnings of $376.8 million, or $1.52 per share, for the same period last year. The company said earnings on a non-GAAP basis were $62 million, or 25 cents a share. Revenue slipped 6.3% to $363.2 million. Analysts were expecting earnings of 25 cents on revenue of $368.2 million, according to consensus estimates from Thomson Financial.



Foundry Networks 2nd Quarter Net Up Sharply; Revenue Up 32%

Foundry Networks Inc.'s second-quarter net income nearly quadrupled to $16.4 million, or 11 cents a share, from $4.41 million, or 3 cents a share, a year-earlier, as revenue rose 32%. The Santa Clara, Calif., computer hardware company's revenue grew to $143.2 million from $108.4 million in the year-ago period. Analysts polled by Thomson Financial expected, on average, earnings of 15 cents a share on revenue of $139.1 million. The company also approved a $200 million share buyback program.



Six Flags 2nd Quarter Loss Widens On Refinancing, Marketing, Other Costs

Six Flags Inc.'s second-quarter loss widened, as a $10.4 million write-off of refinancing costs, higher marketing expenses and in-park costs offset a 3% increase in attendance. The New York-based amusement park operator had a second-quarter loss of $45.4 million, or 54 cents a share, compared with a loss of $39.6 million, or 48 cents a share, a year earlier. Six Flags said revenue for the quarter rose 6.1% to $344.8 million from $325 million a year ago. Six Flags shares closed Thursday down 34 cents, or 6.8%, at $4.69 on nearly three times average daily turnover.


Evergreen Solar 2nd Quarter Loss Widens On Factory Start-Up Costs

Evergreen Solar Inc.'s (ESLR) second-quarter loss widened slightly to $7.51 million from a year-earlier loss of $7.47 million, as results included a loss of $1.65 million from start-up costs of its second EverQ panel factory. On a per-share basis, the loss narrowed to 9 cents from 11 cents as the number of outstanding shares rose to 82.6 million from 65.8 million. The Marlboro, Mass., maker of solar power products said revenue declined to $15.4 million from $22 million. Analysts polled by Thomson Financial expected, on average, a loss of 10 cents a share and revenue of $15 million. Evergreen expects a third-quarter loss of $5.75 million to $6.2 million, or 6 cents a share. Third-quarter product revenue is estimated in the range of $13.5 million to $14.5 million, Evergreen said.



Compuware's quarterly profit tumbles

Compuware Corp. late Thursday reported fiscal first-quarter net earnings of $189,000, or breakeven a share, down from $29.3 million, or 8 cents a share, in the year-ago period. The Detroit-based software company said revenue in the three months ended June fell to $279.4 million from $296.3 million in the comparable period last year. Analysts polled by Thomson Financial were expecting, on average, breakeven earnings of a per-share basis and revenue of $282 million.



Microsemi 3rd Quarter EPS 11c Versus EPS $0.00

Microsemi Corp.'s fiscal third-quarter net income rose to $8.71 million, or 11 cents a share, from a year-earlier profit of $117,000, or less than 1 cent a share, on fewer shares outstanding. Excluding charges for inventory abandonment, stock compensation and other items, net income for the recent period was $20.5 million, or 26 cents a share, compared with $20.1 million, or 28 cents a share, a year earlier. The Irvine, Calif., company's net sales increased to $113.6 million from $100.2 million in the year-earlier period ended July 2. Wall Street expected third-quarter earnings of 20 cents a share, excluding items, on revenue of $112 million, according to the average estimate of analysts polled by Thomson Financial. The company forecast fourth-quarter earnings of 26 cents to 28 cents a share


CNET Networks Swings To 2nd Quarter Loss On Option Investigation

CNET Networks Inc. swung to a second-quarter loss, due in part to $2.9 million in costs associated with its stock-option investigation. The San Francisco-based media company had a second-quarter loss of $76,000, or less than 1 cent a share, compared with a profit of $5.16 million, or 3 cents a share, a year earlier. CNET said revenue for the quarter rose 5.2% to $97.2 million from $92.4 million a year ago. Analysts surveyed by Thomson Financial, on average, expected the company to roughly break even on revenue of $100 million. In addition, CNET cut its 2007 guidance, saying it now expects earnings of $1.30 to $1.39 a share on revenue of $405 million to $430 million. The company had earlier forecast 2007 earnings of $1.37 to $1.47 a share on revenue of $425 million to $445 million.



KLA-Tencor profit up 11% on higher chip-equipment sales

KLA-Tencor Corp. late Thursday said its fiscal fourth-quarter profit rose 11% on higher sales of its equipment to make computer chips. KLA-Tencor reported net income of $147 million, or 75 cents a share, up from $132 million, or 65 cents a share, a year ago. For the three months ended June 30, the company posted sales of $736 million, up from $579 million a year ago. San Jose, Calif.-based KLA-Tencor is one of the nation's biggest chip-equipment suppliers



Western Digital 4th Quarter EPS $1.03 Versus EPS 53c


Western Digital Corp.'s fiscal fourth-quarter net profit nearly doubled to $233 million, or $1.03 a share, from $120 million, or 53 cents a share, a year earlier. Net income for the most recent period includes a $147 million benefit to income taxes related to deferred tax assets. Net income for the year-ago period included $13 million in favorable adjustments to gross margin and a $22 million benefit to income taxes. The Lake Forest, Calif., data storage company's net revenue increased 29% to $1.37 billion in the period ended June 29 from $1.09 billion in the year-ago period. On average, analysts expected per-share earnings of 36 cents on revenue of $1.33 billion. Western Digital also said it expects its acquisition of Komag Inc. (KOMG) to close this quarter.



QLogic's quarterly profit falls 9.9%

QLogic Corp. late Thursday reported first-quarter net earnings of $19 million, or 12 cents a share, down 9.9% from $21.1 million, or 13 cents a share, during the year-ago period. Excluding certain items, the company earned 20 cents a share versus 21 cents a share last year. The Aliso Viejo, Calif.-based maker of storage network infrastructure components said revenue for the three months ended July 1 rose 2% to $139.8 million from $136.7 million in the comparable period last year. Analysts polled by Thomson Financial had forecast, on average, a per-share profit of 20 cents on revenue of $143 million.


Microchip Tech 1st Quarter EPS 36c Versus EPS 35c

Microchip Technology Inc.'s fiscal first-quarter net income rose 4.3% to $80.3 million, or 36 cents a share, from $77 million, or 35 cents a share. Excluding certain items, earnings were $86.7 million, or 39 cents a share, for the most recent period. The Chandler, Ariz., semiconductor company said revenue for the quarter ended June 30, increased slightly to $264.1 million from $262.6 million a year ago. Analysts polled by Thomson Financial predicted, on average, first-quarter earnings of 36 cents a share and revenue of $264.6 million. Microchip expects second-quarter GAAP and non-GAAP earnings of 36 cents a share and 39 cents a share, respectively. The company expects net sales growth of flat to up 2%. Analysts predict second-quarter net income and revenue of 36 cents a share and $276.8 million, respectively.


Varian Semiconductor Equip 2nd Quarter EPS 29c Versus EPS 29c

Varian Semiconductor Equipment Associates Inc.'s fiscal third-quarter net income fell to $23.4 million, or 29 cents a share, from $24.7 million, or 29 cents a share, a year earlier. Results for the period ended June 29 include a provision for income taxes of $58.8 million from its realignment of its legal entity structure. Without the provision and other items, net income was $54.6 million, or 67 cents a share. Revenue for the Gloucester, Mass., maker of ion implantation systems jumped 55% to $288.8 million from $186.2 million in the year-ago period. On average, analysts expected per-share earnings of 67 cents on revenue of $285 million, according to Thomson Financial. Analyst estimates typically exclude unusual items. Varian said it expects fiscal fourth-quarter revenue of between $287 million and $297 million and per-share earnings of between 50 cents and 55 cents.



Lattice Semi Swings To 2nd Quarter Loss On Amortization, Other Chgs

Lattice Semiconductor Corp. swung to a second-quarter loss, due in part to noncash amortization charges and restructuring charges. The Hillsboro, Ore., maker of field-programmale gate arrays and programmable logic devices had a second-quarter loss of $1.46 million, or 1 cent a share, compared with earnings of $2.07 million, or 2 cents a share, a year earlier. Excluding the cost of amortization and accounting for stock-based compensation, the company earned 2 cents a share, compared with 5 cents a share a year earlier. Lattice said revenue for the quarter fell 5.5% to $59.2 million from $62.7 million a year ago. Analysts surveyed by Thomson Financial expected, on average, non-GAAP earnings of 2 cents a share on revenue of $60 million.



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