Akamai Tech (AKAM 20.06 +0.46) reported
Q1 (Mar) earnings of $0.43 per share, $0.03 better
than the First Call consensus of $0.40;
revenues fell 1.0% year/year to $210.4 mln vs the
$208.5 mln consensus. AKAM announces $100 mln
stock buyback, to be funded by cash from
operations. The Company plans to use this program
over the next several quarters to roughly offset
dilution created by ongoing equity compensation
programs.
Citrix Systems (CTXS 25.65 -0.19)
reported Q1 (Mar) earnings of $0.32 per share, $0.01
better than the
First Call consensus of $0.31; revenues fell 2.1%
year/year to $369 mln vs the $359.2 mln consensus.
Citrix expects to achieve the following results
during its second fiscal quarter 2009 ending June
30, 2009: Net revenue is expected to be flat to
slightly down compared to the net revenue reported
for the second quarter of 2008; and, Non-GAAP
operating margin is expected to increase between
100 and 150 basis points compared to the second
quarter 2008, excluding the effects of
amortization of intangible assets primarily
related to business combinations, stock-based
compensation expense, and restructuring charges.
Qwest (Q 3.68 +0.11) reported Q1 (Mar)
earnings of $0.12 per share, $0.04 better
than the First Call consensus of $0.08;
revenues fell 6.6% year/year to $3.17 bln vs the
$3.24 bln consensus. Qwest continues to
expect full year 2009 adjusted free cash flow will
be $1.4 to $1.5 billion. Full year adjusted EBITDA
is expected to be $4.2 to $4.4 billion, inclusive
of an expected increase in non-cash pension and
OPEB expense of $200 million. Capital expenditures
are expected to be $1.8 billion or lower.
Kaufman Bros upgraded Silicon Labs (SLAB
33.30 +4.28) to Buy from Hold. The firm also
raises their FY09 estimates to $1.20 from $0.75
(consensus $0.82) and their tgt to $38 from $30.
The firm notes that SLAB reported impressive Q1
results and exceeded quarter and guidance
expectations. Additionally, with the workdown of
inventories and earlier-than-expected contribution
from emerging segments, such as video broadcast
and short-range wireless, the firm acknowledges
that they are now more comfortable with the co's
product cycle driven growth and earnings
opportunity at SLAB even in the face of a sluggish
macro environment.
Digital River (DRIV 36.353 +1.53)
reported Q1 (Mar) earnings of $0.56 per share,
excluding non-recurring items, $0.05 better
than the First Call consensus of $0.51;
revenues fell 0.7% year/year to $102.9 mln vs the
$98.8 mln consensus. Co issues mixed guidance
for Q2, sees EPS of $0.39-0.42, excluding
non-recurring items, vs. $0.44 consensus; sees Q2
revs of $95-97 mln vs. $95.15 mln consensus.
"We are very encouraged by the solid growth
in our pipeline, the high caliber of companies
that we are adding to our client list, and the
moderate sequential increase we saw in e-commerce
sales activity.
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