2009-05-05 12:24:04 -
Zacks.com announces the list of stocks featured in the Analyst Blog.
Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Triumph Group, Inc. (NYSE: TGI), SurModics (NASDAQ: SRDX), Abbott Labs (NYSE: ABT), Strayer Education (NASDAQ: STRA) and BioMarin Pharmaceutical Inc. (NASDAQ: BMRN).
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Here are highlights from Monday’s Analyst Blog:
TGI Triumphs Over Adversity!
Triumph Group, Inc. (NYSE: TGI) reported mixed Q4-09 results.
While Sales of $311.2 million (we had been looking for $322 million) were down by 3.1%, EPS from Continuing Operations of $1.43 (our estimate was $1.41) were up by 13.5% on a 5.5% drop in the number of shares.
The Operating Margin rose from 11.1% to 11.4%, while the Tax Rate declined from 33.8% to 32.0%. EBITDA of $47.8 million rose by 1.2% and, as a percent of Sales, went from 14.6% to 15.3%. The Quarter was helped by a $0.8 million pre-tax gain from the retirement of $8.0 million of convertible notes at a discount.
SurModics Sell Rating Maintained
SurModics (NASDAQ: SRDX) reported fiscal 2Q09 financial results on April 29, 2009.
Total revenue for the second quarter of fiscal 2009 was $20.9 million, down 19% compared with $25.7 million in the year earlier period.
Operating income was $6.2 million, compared with $7.2 million in the prior-year period. Net income was $4.2 million, compared with $5.1 million in the same period last year. Diluted earnings per share were $0.24, compared with $0.28 in the second quarter of fiscal 2008.
On a revenue component basis, royalty/license revenue declined by 27% to $10.1 million in 2Q09, compared to $13.8 million in 2Q08. The royalty was also lower than our estimate of $12.5 million. SurModics licensed several patents for lateral flow immunoassay technology to Abbott Labs (NYSE: ABT), which expired in December 2008. We expect royalty revenue to continue to decline in the coming quarters.
Strayer a Buy, Post-Report
Strayer Education (NASDAQ: STRA), which offers undergraduate and graduate degree programs through Strayer University and Strayer University Online, reported financial results for the first quarter ending March 31, 2009. Quarterly earnings of $2.07 per diluted share were $0.10 above expectations due to a lower number of students dropping out after the start of the term.
Given the strength of the first quarter's result and management's guidance of 1.95 to $1.95 per diluted share for the second quarter, we have raised our 2009 earnings estimate 5.5% to $7.27. We reiterate our Buy rating on Strayer Education.
BioMarin Top-Line Diminishing
On April 30, 2009, BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) reported financial results for the first quarter ended March 31, 2009.
Total revenue in 1Q09 came in at $74 million, up 22.5% from $60.4 million in the same quarter of 2008. Total revenue of $74 million was in line with our estimate of $74.9 million.
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