Zacks Analyst Blog Highlights: KLA-Tencor Corp., Applied Materials, Monster Worldwide, Inc., Yahoo! and Daimler AG - Press Releases
For Immediate Release
Chicago, IL – May 3, 2010 – Zacks.com Analyst Blog features: KLA-Tencor Corp. (KLAC), Applied Materials (AMAT), Monster Worldwide, Inc. (MWW), Yahoo! (YHOO) and Daimler AG (DAI).
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Here are highlights from Friday’s Analyst Blog:
KLAC Beats, Guides Higher
KLA-Tencor Corp.’s (KLAC) second-quarter earnings beat the Zacks Consensus Estimate by 6 cents. With the broad turnaround in the semiconductor capital equipment market underway, some of the other equipment makers, such as Research (LRCX) and Teradyne (TER) also reported stronger results. Consequently, we are very positive about the largest equipment company Applied Materials (AMAT) which is expected to report within the next few weeks.
Revenue of $478.3 million was up 8.6% sequentially and 54.5% year over year. The sequential strength was due to a larger section of customers increasing their capex investments, particularly in advanced technology. The technical complexity in manufacturing semiconductors and increasingly challenging yield issues are the drivers behind these investments. New products also helped growth in the last quarter.
Products generated 73% of total revenue, an increase of 11.1% sequentially and 68.7% year over year. Services revenue comprised the remaining 27%, 2.5% sequentially and 25.6% year over year. Services are likely to grow in importance, as the company strives to maintain its large installed base.
Loss Narrows at Monster
Monster Worldwide, Inc. (MWW) reported revenues of $215 million in the first quarter of 2010, down 16% year over year. That decline is the lowest percentage decrease in five quarters. The results beat management expectations and mark the first sequential increase since the first quarter of 2008. Management saw solid improvement across all key geographic regions and all sales channels. Bookings growth was better than anticipated as a result of the improved global economy.
Going forward, management expects bookings to grow between 15% and 20% to $930 – $970 million. Revenues are projected at $890 – $925 million for 2010. Operating expenses are projected to increase around 3%-6% on a year-over-year basis. Loss per share is forecasted between 12 cents and 20 cents.
For the second quarter, management expects bookings between $202 million and 210 million, up 15% -20% year over year. Revenues are projected between $210 million and $220 million, down 2% – 6% year over year. Loss per share is forecasted at 2 cents to 6 cents.
Monster earlier announced that it entered into a definitive agreement with Yahoo! (YHOO) for acquiring the assets of Yahoo! HotJobs, a leading online recruitment website. The acquisition is expected to close in the third quarter.
With the addition of the HotJobs network of more than 600 daily and weekly newspapers, Monster's alliances with local papers will grow to approximately 1,000, giving Monster access to all 50 states.
The company expects to close the acquisition in the third quarter.
The HotJobs acquisition will add 6 to 12 cents to the bottom line by 2011 after paying Yahoo! for their traffic. Monster and Yahoo! have entered into a multi-year commercial traffic agreement, wherein Monster will become Yahoo!'s provider of career and job content on the Yahoo! Homepage in the United States and Canada.
Daimler Improves
Daimler AG (DAI) showed a profit of €612 million ($850 million) or 65 eurocents (90 cents) per share during the first quarter of 2010, which was a sharp contrast to a loss of €1.3 billion ($1.8 billion) or €1.40 ($1.95) per share in the prior-year quarter.
Earnings before income and taxes (EBIT) improved to €1.2 billion ($1.7 billion) from a loss of €1.4 billion ($1.9 billion) in the first quarter of 2009. Due to improved performance in all the segments and a recovery in all the markets, the company raised its EBIT outlook to €4 billion ($5.6 billion) for 2010 from the previous outlook of €2.3 billion ($3.2 billion).
The hefty gain in profit was fueled by an impressive rise in unit volumes in all the divisions, especially Mercedes-Benz Cars. In the quarter, Daimler's global unit sales escalated 21% to 402,700 cars and commercial vehicles. Consequently, revenues (adjusted for exchange-rate effects) grew 15% to €21.2 billion ($29.5 billion).
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