McDermott, Fluor Rise on Earnings

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Earnings Analysis:

Author: 123jump.com Staff
123jump.com
Last Update: 3:59 PM EDT May 13 2008

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McDermott reported firt quarter revenue gains of 6% to $1.45 billion and earnings decreased 22% to $123 millon or 54 cents per share. Engineering and construction company Fluor Corp first quarter revenue rose 32% to $4.81 billion and earnings increased 39% to $138 million or $1.50 per share. MEMC Electronic Materials in the first quarter reported a loss of $41.8 million or 18 cents per share.

[R]3:45PM New York – McDermott and Fluor Corp rose after reporting better than expected earnings.[/R]

BearingPoint, Inc a management and technology consultant said first quarter revenues declined 2.8% to $830 million from $866.3 million a year ago. Net loss in the quarter was $23.2 million or 10 cents per diluted share compared to net income of $61.7 million or 29 cents per share, a year ago.

BearingPoint, Inc stock (BE: chart) fell 24 cents to $1.61.

Basin Water, Inc, a process solutions provider said first quarter revenues rose 87% to $3.0 million from $1.6 million a year ago. Net loss in the quarter was $5.1 million or 24 cents per diluted share compared to net loss of $2.1 million or 11 cents per share, a year ago.

Basin Water, Inc stock (BWTR: chart) rose 24 cents to $4.53.

Bowne & Co., Inc, provides shareholder, marketing and business communications service said first quarter revenues declined 2% to $208.8 million from $212.0 million a year ago. Net income in the quarter declined 8% $1.2 million or 5 cents per diluted share compared to net income of $10.7 million or 34 cents per share, a year ago.

Bowne & Co., Inc stock (BNE: chart) fell $1.91 to $14.91.

Cogent, Inc, automated fingerprint identification systems developer said first quarter revenues $24.6 million. Net income in the quarter declined 7.31% to $8.2 million or 9 cents per diluted share compared to net income of $8.8 million or 9 cents per share, a year ago.

Cogent, Inc stock (COGT: chart) fell 14 cents to $10.37.

Evercore Partners Inc, an investment banking company said first quarter revenues declined 50.3% to $44.5 million from $89.5 million a year ago. Net loss in the quarter was $1.0 million or 8 cents per diluted share compared to net income of $4.2 million or 64 cents per share, a year ago.

Evercore Partners Inc stock (EVR: chart) fell 6 cents to $13.31.

Houston Wire & Cable Company, a distributor of specialty wire and cable and related services said first quarter sales rose 9.3% to $89.4 million from $81.8 million a year ago. Net income in the quarter fell 8.6% to $6.7 million or 37 cents per diluted share compared to net income of $7.3 million or 35 cents per share, a year ago.

Houston Wire & Cable Company stock (HWCC: chart) fell 15 cents to $18.21.

Imperial Sugar Company, a sugar refinery said first quarter revenues declined 32% to $145.2 million from $212.6 million a year ago. Net loss in the quarter was $15.5 million or $1.33 per diluted share compared to net income of $8.7 million or 74 cents per share, a year ago.

Imperial Sugar Company stock (IPSU: chart) fell 37 cents to $15.28.

JA Solar Holdings Co., Ltd, manufacturer of solar cells based in China said first quarter revenues rose 70.1% to $160 million from $47.8 million a year ago. Net income in the quarter increased 62.2% to $22 million or 14 cents per diluted share compared to net income of $8.3 million or 7 cents per share, a year ago.

JA Solar Holdings Co., Ltd stock (JASO: chart) added $1.90 to $24.00

LDK Solar Co., Ltd, a manufacturer of multi-crystalline solar wafers said first quarter revenues rose 21% to $233.4 million from $192.8 million a year ago. Net income in the quarter increased 1.20% to $49.8 million or 45 cents per diluted share compared to net income of $49.2 million or 44 cents per share, a year ago.

LDK Solar Co., Ltd stock (LDK: chart) fell 66 cents to $36.84.

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