09 May 07. Shares of Cisco Systems fell more than 5 per cent in after-hours trading Tuesday, even as the world’s biggest maker of data networking equipment reported better than expected sales and profits. The slide in the company’s stock price underscored investors’ high expectations as the company attempts to cash in on the growing importance of online video and other bandwidth-intensive services. John Chambers, chairman and chief executive, hailed the “very strong” results Tuesday. Cisco reported third-quarter profits of $1.9bn, or 30 cents a share, up from $1.4bn, or 22 cents, a year ago. Sales were $8.9bn, up from $7.3bn last time. That included sales and profits from Scientific Atlanta, the maker of set-top television boxes that Cisco acquired in 2005 for $6.9bn as part of a push into consumer markets. Shares in the company, which fell 5.2 per cent in after-hours trading to $26.87, have risen from a recent low of $17.29 last August. Cisco said it expected sales growth of 15-16 per cent in the coming quarter. Mr Chambers said Cisco was poised to benefit as the internet entered a “second phase” of growth driven by video, blogs, wikis and other online collaboration tools. “We’ve spent the last six years preparing for the next wave of collaboration,” he added. “I don’t think we’re being overly optimistic when we say this second phase of the internet will drive the industry for the next decade.” (Source: FT.com)
07 May 07. Lyrtech Inc. (TSX Venture Exchange: LYT – News), has been awarded contracts valued at USD $5m during the first quarter of 2007 of which USD $2.7m are for development platforms and turnkey engineering services. The work is to be completed in Quebec City and Montreal over the next twelve months. The success in developing the GSM Cell Blocking Basestation Prototype for Cell Block Technologies had a direct impact on the ability of Lyrtech to obtain this new business. The new orders call on the extensive intellectual property of cellular communications algorithms developed by Lyrtech’s engineers.
09 May 07. United Industrial Corporation (NYSE: UIC – News) today reported financial results for its first quarter ended March 31, 2007. Net sales for the first quarter of 2007 increased 25.0% to $160.8m, (2006: $128.7m). The growth in net sales was primarily due to $10.7m increased volume on aircraft Maintenance Training Device (“MTD”) programs, $7.7m of increased sales for the Unmanned Aircraft Systems (“UAS”) One System® ground control system including greater developmental efforts supporting the Extended Range Multi- Purpose UAS program and production of the new Remote Video Terminal ground control systems, an increase of $6.3m in logistical support for fielded Shadow® 200 Tactical Unmanned Aircraft Systems (“Shadow 200 TUAS”), and a $2.5m increase in engineering activities primarily related to new UAS initiatives. In addition, the company’s 2006 acquisitions contributed $18.5m to net sales in the first quarter of 2007. These increases were partially offset by a decrease of $13.8m in the Shadow 200 TUAS production program, primarily due to the timing of material requirements in the first quarter of 2007. Operating margin for the first quarter of 2007 was 10.4% and was essentially unchanged from the first quarter of 2006. Net income from continuing operations for the first quarter of 2007 increased 31.0% to $10.0m, or $0.75 per diluted share, (2006: $7.7m, or $0.61). Net income, including results of both continuing and discontinued operations, for the first quarter of 2007 increased 7.3% to $9.2m, or $0.69 per diluted share, (2006: $8.6m, or $0.67). The company recorded a loss, net of tax benefit, from discontinued operations for the first quarter of 2007 of $0.8m and income, net of tax provision, for the first quarter of 2006 of $0.9m including $1.2m from the company’s discontinued energy segment divested on December 29, 2006. The loss in the first quarter of 2007 was primarily attributable to on-going litiga