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FEI Co. (FEIC) shares get boost on Q2 earnings

Wednesday, May 4th, 2011

FEI Co. (Nasdaq: FEIC) shares gained 8.9% to $34.59 Wednesday, a day after the high-precision microscope maker projected second-quarter results that topped Wall Street’s forecasts. Volume for the stock was 1.1 million shares shortly before Wednesday’s closing bell, compared to a daily average of 352,000.

The company, based in Hillsboro, Oregon, reported the highest quarterly revenue and earnings in the company’s history. Revenue of $197 million was up 32% compared to $149.1 million in the first quarter of 2010 and up 6% from $186.1 million in the fourth quarter of 2010.

Net income was $22.3 million or $0.54 per diluted share, compared with $4.1 million or $0.11 per diluted share in the first quarter of 2010 and $21.3 million or $0.52 per diluted share in the fourth quarter of 2010.

FEI’s Chief Executive Officer, Don Kania, commented, “Gross margins moderated from the fourth quarter as expected, as operating margins increased. Bookings remained strong with 31% year-over-year growth in both Life Sciences and Research and Industry, and 14% growth in Electronics. For the second quarter, we expect revenue to be strong with improved gross margins, and we continue to expect growth for 2011.”

FEI is a leading diversified scientific instruments company. It is a premier provider of electron and ion-beam microscopes and tools for nanoscale applications globally and across many industries: industrial and academic materials research, life sciences, semiconductors, data storage, natural resources and more.

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Varian Semiconductor Equipment Associates (VSEA) stocks skyrocket on news of impending takeover

Wednesday, May 4th, 2011

Varian Semiconductor Equipment Associates Inc.’s (Nasdaq: VSEA) shares surged 51.1% to $61.29 Wednesday, after Applied Materials Inc. (Nasdaq: AMAT) said it would acquire the ion-implantation equipment supplier for $4.9 billion. Volume for Varian was 18.3 million shares before noon ET, overwhelming a full-day average of 1.2 million.

Santa Clara, California-based Applied Materials says it will pay $63 a share, or 55% more than yesterday’s closing price. It also said the merger was approved by the boards of directors of both companies. Varian is based in Gloucester, Massachusetts.

Applied Materials Chief Executive Officer Mike Splinter said “Varian is a great fit for our strategy to profitably grow share in our core semiconductor business with best-in-class technology and talent.

“The pace of product innovation is accelerating, requiring devices that are more mobile, more connected and more personalized.”

Varian management was not available for comment.

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Vital Images Inc. (VTAL) soars on hookup with Japanese giant

Thursday, April 28th, 2011

Vital Images Inc. (Nasdaq: VTAL) shares rallied 31.5% to $18.65 in morning trading Thursday, after Toshiba Medical Systems Co. said late Wednesday that it would acquire the provider of image-visualization software to the medical industry for $273 million. Volume for the stock was 3.7 million shares, overwhelming a daily average of 52,000.

Under the terms of the agreement, which has been unanimously approved by each of Vital Images’ and TMSC’s boards of directors, Vital Images’ shareholders will receive $18.75 in cash for each outstanding share of Vital Images common stock they own. This represents a 39% premium over the volume-weighted average Vital Images share price for the past 30 days.

Toshiba Medical Systems Co. CEO Satoshi Tsunakawa commented, “After a decade-long successful partnership spanning more than 50 countries, TMSC is taking the partnership to the next level. We have enormous respect for Vital Images’ products, pipeline and people, and look forward to working with their highly skilled team to enhance clinical value for patients throughout the world.”

Chief Executive Officer of Vital Images, Michael Carrel also commented on the developments, “TMSC has been our largest customer for a decade, as well as a strategic development partner. We will combine forces to enhance the multi-modality platform we have been marketing to hospitals in the U.S. and overseas. This transaction means we can now accelerate our global presence with the strength and backing of TMSC.”

Minneapolis-based Vital Images, Inc. is a leading provider of advanced visualization and analysis software for physicians and healthcare specialists.

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Silicon Image Inc. (SIMG) shares jump on Q2 revenue report

Wednesday, April 27th, 2011

Silicon Image Inc. (Nasdaq: SIMG) shares climbed 19.1% to $9.00 Wednesday, a day after the designer of television-transmission chips forecast second-quarter revenue above analysts’ forecasts. Volume for the stock was 3.8 million shares, twice its normal full-day average.

The Sunnyvale, California-based company reported revenue for the first quarter of 2011 was $49.0 million, compared to $52.0 million for the fourth quarter of 2010 and $34.3 million for the first quarter of 2010.
GAAP net loss for the first quarter of 2011 was $0.8 million or $0.01 per share, compared to net income of $4.2 million, or $0.05 per diluted share, for the fourth quarter of 2010 and a net loss of $7.2 million, or $0.10 per share, for the first quarter of 2010.

For the second quarter, Silicon projected revenues of $51-53 million, with gross margin seen as being about 56%, while GAAP operating expenses were pegged at approximately $28 million.

Silicon Image Cheif Executive Officer Camillo Martino noted that the company’s performance “was driven by CE product sales and an increasingly successful mobile product portfolio, as mobile device manufacturers are integrating MHL-based products into their smart phones and tablets.

“We pursued our long-term strategic growth initiatives,” Martino went on, “as evidenced by the acquisition of home theater solutions from Anchor Bay Technologies and the definitive agreement to acquire wireless technology company SiBEAM, and we will continue to drive new product development for both wireless and wired HD connectivity solutions.”

Silicon Image is a leading provider of advanced, interoperable connectivity solutions that enable the reliable distribution and presentation of high-definition (HD) content for consumer electronics, mobile, and PC markets.

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Polycom Inc. (PLCM) climbs on quarterly financial report

Monday, April 25th, 2011

Polycom Inc. (Nasdaq: PLCM) shares climbed 13% Monday to $58.66, after the supplier of video-conference systems late Thursday reported first-quarter revenue that topped estimates.

The Pleasanton, California-based company traded in volume of 2.4 million shares, almost twice their normal daily average. Thursday, it was reported that first-quarter 2011 consolidated net revenues were a record $344 million, compared to $276 million for the first quarter of 2010.

GAAP net income for the first quarter of 2011 was $34 million, or 38 cents per diluted share, compared to $5 million, or six cents per diluted share, for the same period last year.

Polycom Chief Executive Officer Andrew Miller commented, “Record results for the first quarter were driven by broad-based customer demand for Polycom’s leading UC solutions across all major geographies.”

Miller continued, “We are particularly pleased with the traction Polycom’s UC strategy is gaining within our partner and customer communities, as well as the outstanding results we continue to achieve in emerging markets such as China and India.”

Polycom, Inc.is a global leader in unified communications solutions with industry-leading telepresence, video, voice and infrastructure solutions built on open standards.

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