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Earnings Analysis: 
Akamai, Las Vegas Sands, MasterCard Fall
Author: 123jump.com Staff
123jump.com
Last Update: 10:04 AM ET July 31 2008


Akamai Technologies second quarter revenue rose 27% to $194 million and earnings surged 59% to $34.3 million or 19 cents per share, however the stock dropped 20%. Las Vegas Sands Corp second quarter revenue surged 81% to $1.11 billion but reported a net loss of $8.8 million or 2 cents per share. MasterCard Inc second quarter reported a loss on one-time after-tax charge of $1 billion related to legal settlement with American Express.

 
[R]10:00AM New York – MasterCard fell sharply after reporting a quarterly loss. Akamai Technologies dropped 20% after revenue rose 27% and earnings increased 59%.[/R]

Akamai Technologies, Inc, an Internet content delivery company second quarter revenues increased 27% to $194 million from $152.7 million a year ago. Net income in the quarter rose 59% to $34.3 million or 19 cents per diluted share compared to net income of $21.6 million or 12 cents per share, a year ago.

Akamai Technologies, Inc (AKAM: chart) in the last one year traded as high as $41.45 in May 2008 and as low as $25.06 in January 2008. Based on the yesterday’s closing price the company has a market cap of $5.26 billion.

Covance Inc, a clinical testing company said second quarter revenues increased 12.49% to $461.8 million from $404.1 million a year ago. Net income in the quarter rose 22.7% to $50.9 million or 80 cents per diluted share compared to net income of $41.5 million or 64 cents per share, a year ago.

Covance Inc (CVD: chart) in the last one year traded as high as $96.81 in January 2008 and as low as $70.00 in August 2007. Based on the yesterday’s closing price the company has a market cap of $5.57 billion.

Express Scripts, Inc, a pharmacy-benefits manager said second quarter revenues increased 3% to $4.71 billion from $4.57 billion a year ago. Net income in the quarter rose 25% to $190.2 million or 75 cents per diluted share compared to net income of $152.7 million or 57 cents per share, a year ago.

Express Scripts, Inc (ESRX: chart) in the last one year traded as high as $79.10 in January 2008 and as low as $47.63 in August 2007. Based on the yesterday’s closing price the company has a market cap of $16.73 billion.

Flowserve Corporation, a fluid motion and control company said second quarter sales rose 24% to $1.16 billion from $931 million a year ago. Net income in the quarter rose 49% to $122.9 million or $2.13 per diluted share compared to net income of $63.2 million or $1.11 per share, a year ago.

Flowserve Corporation (FLS: chart) in the last one year traded as high as $142.31 in July 2008 and as low as $61.99 in August 2007. Based on the yesterday’s closing price the company has a market cap of $7.78 billion.

Las Vegas Sands Corp, casino operator in Las Vegas and Macau said second quarter revenues surged 81% to $1.11 billion from $612.9 million a year ago. Net loss in the quarter was $8.8 million or 2 cents per diluted share compared to net income of $34.4 million or 10 cents per share, a year ago.

Las Vegas Sands Corp (LVS: chart) in the last one year traded as high as $148.76 in October 2007 and as low as $30.56 in July 2008. Based on the yesterday’s closing price the company has a market cap of $17.00 billion.

LoopNet, Inc, a provider of online marketplace for commercial real estate in the United States said second quarter revenues increased 29% to $22.0 million from $17.0 million a year ago. Net income in the quarter declined 12% $4.5 million or 12 cents per diluted share compared to net income of $5.1 million or 13 cents per share, a year ago.

LoopNet, Inc (LOOP: chart) in the last one year traded as high as $23.90 in October 2007 and as low as $9.25 in July 2008. Based on the yesterday’s closing price the company has a market cap of $369.05 million.

The Lubrizol Corporation, a specialty chemical company said second quarter revenues grew 17% to $1.35 billion from $1.15 billion a year ago. Net income in the quarter dropped 4% $78.1 million or $1.13 per diluted share compared to net income of $81 million or $1.15 per share, a year ago.

The Lubrizol Corporation (LZ: chart) in the last one year traded as high as $69.95 in October 2007 and as low as $41.60 in July 2008. Based on the yesterday’s closing price the company has a market cap of $3.29 billion.

MasterCard Inc (MA: chart) reported net income of $276 million, or $2.11 per diluted share, excluding a special item, and a net loss of $747 million, or $5.74 per diluted share, including the special item. The company took a one-time after-tax charge of $1.0 billion related to an antitrust litigation settlement with American Express.

The second largest payment processing company revenue in the quarter rose 25% to $1.2 billion and gross dollar volume processed increased 12.8% to $655 billion. Worldwide purchase volume in the quarter on a local currency basis increased 14% to $493 billion.

Morton''s Restaurant Group, Inc, engaged in the business of owning and operating restaurants said second quarter revenues increased 3.6% to $88.7 million from $85.6 million a year ago. Net income in the quarter declined 26.08% $1.7 million or 11 cents per diluted share compared to net income of $2.3 million or 14 cents per share, a year ago.

Morton''s Restaurant Group, Inc (MRT: chart) in the last one year traded as high as $20.82 in August 2007 and as low as $5.48 in July 2008. Based on the yesterday’s closing price the company has a market cap of $98.20 million.

Starbucks Corporation, coffee chain said third quarter revenues rose 9% to $2.6 billion from $2.4 billion a year ago. Net loss in the quarter was $6.7 million or 1 cent per diluted share compared to net income of $158.3 million or 21 cents per share, a year ago.
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