Dentsply Continues to Face Strong Headwinds in Europe
Although Dentsply’s revenue growth continues to fall slightly short our expectations, management’s ability to offset the medical device tax combined with the integration of Astra Tech kept total earnings growth near analyst’s forecasts. Excluding precious metals, Dentsply’s revenue increased 3.4%, or 2.7% on a constant currency basis, which is slightly below last year’s internal growth but on par with the second quarter. While sales growth … Continue reading Dentsply Continues to Face Strong Headwinds in Europe
Low Coal Prices Drive Huaneng Earnings in Quarter
Huaneng Power International reported 2013 third-quarter earnings of $1.52 per ADR compared with $0.92 per ADR in 2012’s third quarter. The reported results included an asset impairment charge and loss on disposal of noncurrent assets that reduced reported earnings by roughly $0.24 per ADR. Low market coal prices continue to drive strong earnings. We are reaffirming our narrow moat and stable moat trend ratings and … Continue reading Low Coal Prices Drive Huaneng Earnings in Quarter
SVB Financial Posts 18% Increase in Revenue
SVB Financial Group’s first-quarter profits available to common investors rose 18% to $40.9 million, or $0.90 per diluted share, from $34.8 million, or $0.78 per diluted share, in the year-earlier first quarter. We are not changing our $55 per share fair value estimate or our narrow economic moat rating at this time. Noninterest expense rose 13% to $149 million. Noninterest income climbed 33% year over … Continue reading SVB Financial Posts 18% Increase in Revenue
Weak Hospital Spending Hurts Varian Medical Systems in Quarter
Varian Medical Systems reported fairly weak fiscal fourth-quarter results. The company’s performance continues to be affected by tightening U.S. radiology reimbursement for freestanding clinics and the generally weak hospital spending environment. Our narrow moat and positive moat trend ratings remain intact; we continue to believe Varian is well positioned to capitalize on its strong technological platform and produce strong results over the next decade. We’re … Continue reading Weak Hospital Spending Hurts Varian Medical Systems in Quarter
ATMI Posts Disappointing Earnings; Revenue Drops to $100.2 Million
ATMI reported third-quarter results that were slightly below our expectations due to near-term softness in manufacturing activity in the chip industry. We are maintaining our fair value estimate and moat rating. For the quarter, revenue was $100.2 million, down 2% sequentially and down from sales of $109 million in the year-ago quarter. A near-term slowdown in semiconductor industry manufacturing activity affected demand for ATMI’s products, … Continue reading ATMI Posts Disappointing Earnings; Revenue Drops to $100.2 Million
Lithia Motors Posts Record Results in Q3
Lithia Motors reported all-time record results of $1.13 per share for adjusted diluted earnings per share from continuing operations. This mark beat consensus by $0.03, and another healthy mid-digit percentage increase in same-store revenue year over year also enabled the company to beat on revenue. Despite what we see as a very strong quarter, management’s comments on more growth coming from acquisitions and the introduction … Continue reading Lithia Motors Posts Record Results in Q3
