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After Hours: Veraz, BMC Beat, Stocks Jumping (VRAZ, rated HOLD)
More after hours action!
- Shares of networking equipment vendor Veraz Networks ( VRAZ ) were up over 9% at $5.69 in after-hours trading after the company reported second quarter revenue of $31.2 million, up 35% from the prior year, and ahead of a consensus estimate for $28.84 million. It was the company’s first quarterly report since its public offering of stock on May 2. Net loss of 10 cents included a one-time charge of 15 cents for a dividend as a result of the conversion feature on convertible preferred stock, the company said. Without that charge, earnings would have been five cents per share, which would be ahead of the 3 cents loss estimate of analysts. For 2007 the company anticipates revenue in a range of $123 million to $126 million, the company said, and net income of approximately $3 million to $6 million. That’s ahead of analysts’ estimate for $120 million in sales, and, assuming the company’s share count remains at 39.7 million, the earnings would be 15 cents a share, roughly, which would be ahead of estimates currently for a loss of 11 cents per share.
- Enterprise software vendor BMC ( BMC ) announced profit per share of 37 cents, excluding some items, for its first fiscal quarter, on sales of $385 million, up 7% from the year-earlier period. Both figures beat analysts’ estimates for profit of 34 cents on sales of $375 million, according to Thomson Financial. The company forecast full-year 2008 profit, excluding some items, in a range of $1.69 to $1.79, ahead of estimates of $1.68 according to Thomson. Sales will grow “in the mid single digits” this fiscal year, the company forecast. Analysts are forecasting 4.4% sales growth this year, to $1.65 billion, according to Thomson. Shares were up over 4% at $28.94 in after-hours trading.
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