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February 11, 2014
SMID Cap 1:1 Symposium is being held in Boston on February 11-12.
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October 24, 2014
09:31 EDTLAYNLayne Christensen reports liquidity up $25M to about $65M
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October 23, 2014
18:52 EDTLSCCOn The Fly: After Hours Movers
UP AFTER EARNINGS: Rubicon Project (RUBI), up 19.2%... KLA-Tencor (KLAC), up 15.8%... Gigamon (GIMO), up 13.5%... Maxwell (MXWL), up 11.3%... Qlik Technologies (QLIK), up 9.8%... NetSuite (N), up 5.5%... Microsoft (MSFT), up 3.3%... Juniper Networks (JNPR), reverses in after-hours trading and is up 1.4% after reporting third quarter results and announcing a $1.1B increase to the company's share repurchase authorization. ALSO HIGHER: Vitae Pharmaceuticals (VTAE), up 38.6% following positive top-line results from two Phase 1 clinical trials of BI1181181/VTP-37948... Pfizer (PFE), up 1.8% after announcing a new $11B share repurchase program. DOWN AFTER EARNINGS: (AMZN), down 10.7%... Synaptics(SYNA), down 12.7%... Pandora (P), down 6.8%... Lattice Semiconductor (LSCC), down 5.6%... Maxim Integrated (MXIM), down 5.8%. ALSO LOWER: DryShips (DRYS), down 16.5% after filing an automatic common stock shelf... NPS Pharmaceuticals (NPSP), down 7.9% following PDUFA date for Natpara extended three months to January 24... GoPro (GPRO), down 2.8% after being initiated with an Underperform at Oppenheimer.
16:37 EDTLAYNLayne Christensen CEO comments on Q3 guidance
David A.B. Brown, President & CEO of Layne, commented, "Despite these anticipated losses, we remain confident in the direction of our business and the progress we are making to improve Layne's operating results. We are especially pleased that our growing Energy Services division is on track to produce its first-ever profitable quarter. As expected, losses at Heavy Civil should narrow from Q2 FY 2015. We expect to complete substantially all of the unprofitable projects at Heavy Civil by the end of FY 2015, with losses in the division weighing on our results through Q4 FY 2015. Poor results at Mineral Services will likely persist through the balance of FY 2015 and FY 2016. We continue to seek to manage costs and consolidate locations at Mineral Services, where appropriate, as the mining industry recovers. Looking ahead to Q4 FY 2015, we anticipate consolidated pre-tax results similar to Q3 FY 2015 as we enter our normal seasonal slowdown. Liquidity has improved since the end of Q2 FY 2015. Current domestic cash on hand and availability under the ABL facility is approximately $65 million." Brown concluded, "We continue to make progress implementing our previously announced restructuring plan. Layne expects to realize annualized cost savings of between $17 and $22 million. We continue to evaluate each of our divisions and to explore operational enhancements, as well as review under-performing assets and take action where appropriate."
16:36 EDTLAYNLayne Christensen sees Q3 EPS (60c)-(55c), consensus (26c)
Sees Q3 revenue $210M-$215M, consensus $216.74M. The anticipated net loss from continuing operations in Q3 FY 2015 is expected to be primarily attributable to the following: Losses of between $3.1 million and $3.5 million at Mineral Services, reflecting the continuing impact of volatile commodity prices, and economic and political unrest on project starts and utilization rates; Losses at Heavy Civil of between $3.8 million and $4.3 million, primarily due to the combination of several unprofitable legacy contracts and later contracts producing low margins, as well as recurring general and administrative expenses. The legacy contracts should be substantially complete by the end of FY 2015; and Losses at Geoconstruction of between $3.4 million and $3.9 million, due to delays in resolving claims on certain projects.
16:02 EDTLSCCLattice Semiconductor sees Q4 revenue flat to down 4% vs. Q3
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16:01 EDTLSCCLattice Semiconductor reports Q3 EPS 8c, consensus 6c
Reports Q3 revenue $86.6M, consensus $89.37M.
16:01 EDTLSCCLattice Semiconductor reports Q3 EPS 8c, consensus 6c
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08:35 EDTOSISOSI Systems raises FY15 EPS view to $3.53-$3.76, consensus $3.56
Raises FY15 revenue view to $970M-$995M, consensus $966.51M. Previous EPS view was $3.50-$3.75, previous revenue view was $960M-$985M.
08:34 EDTOSISOSI Systems reports Q1 adjusted EPS 57c, consensus 56c
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October 22, 2014
08:30 EDTOSISOSI Systems, DHS enter into addendum to administrative agreement
OSI Systems announced that its Security division, Rapiscan Systems, and the Department of Homeland Security have entered into an Addendum to the Administrative Agreement signed in June 2013. Among other compliance measures, the Addendum extends the duration of the Administrative Agreement. OSI Systems CEO, Deepak Chopra, commented, “We are pleased to have reached this agreement with DHS. U.S. federal government agencies are counted among our closest and longest standing customer relationships and we look forward to continuing to provide these customers with state of the art technologies and services in years to come.”
08:01 EDTEGLEngility Holdings wins $42.9M contract to provide system engineering for Navy
Engility Holdings announced it has won a $42.9M contract to provide system engineering, design, prototype, and testing and evaluation for shipboard and shore-based electronic systems under a program supporting the Naval Air Warfare Center Aircraft Division. This new contract, which is administered by the U.S. Army Space and Missile Defense Command/Army Forces Strategic Command, provides Engility with the opportunity to continue and expand its work for NAWCAD and is a $42.94M three year agreement. This contract is a Firm-Fixed Price Level of Effort and the work will be done by Engility personnel in Hollywood, MD; Patuxent River Naval Air Station, Patuxent River, MD; and Webster Field Annex, St Inigoes, MD.
October 17, 2014
12:46 EDTBCOBrink's to restructure Netherlands operations, could cut approximately 600 jobs
The Brink's Company announced its plan to restructure its Netherlands operations in response to a loss of business with Rabobank, its largest customer in that country. Brink's expects to incur a charge of $16M-$22M against Q3 GAAP earnings. The expected charge is related to asset impairments, severance and other costs associated with the expected cessation of service to Rabobank on July 1, 2015. The restructuring plan includes the potential closure of three branches and a workforce reduction of approximately 600 employees. The potential loss of business in the Netherlands was considered prior to the company's July 24 disclosure of its goal to achieve a non-GAAP segment margin rate of 8% by the end of 2016, and the goal remains unchanged.
October 16, 2014
11:17 EDTTWITitan downturn warning seen as negative for Deere, AGCO
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09:41 EDTTWITitan outlook negative for AGCO, Deere, says Wells Fargo
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09:08 EDTTWITitan International CEO says too early to give EBITDA, revenue outlook
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09:06 EDTTWITitan International sees cyclical downturn for large ag equipment
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October 15, 2014
07:06 EDTEGLEngility Holdings wins $23M contract
Engility Holdings announced it has been awarded a $23M contract to provide engineering and analytical support to help the U.S. Department of Transportation and the Federal Aviation Administration implement the Next Generation Air Traffic Control System. This task order award represents a combination of new and recompete work, and is a cost plus fixed fee contract with a 38-month period of performance.

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