For Immediate Release
Chicago, IL – February 11, 2010 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: The New York Times Company (NYT), Gannett Co. Inc. (GCI), RightNow Technologies Inc (RNOW), SAP AG (SAP) and Oracle Corporation (ORCL).
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Here are highlights from Wednesday’s Analyst Blog:
New York Times Tops but Drops
The New York Times Company (NYT) recently reported better-than-expected fourth-quarter 2009 results buoyed by significant cost-cutting measures, newspaper price increase, and improving trends in the advertising environment.
The New York Times quarterly earnings of 44 cents a share surpassed the Zacks Consensus Estimate of 41 cents, and soared 22.2% from 36 cents delivered in the prior-year quarter. In the last 30 days, the Zacks Consensus Estimate has shown an improvement of 2.5%, when 1 out of 3 analysts covering the stock raised his estimate.
The company outperformed the Zacks Consensus Estimate by 7.3%. The current Zacks Consensus Estimate for first-quarter 2010 is 7 cents a share.
On a reported basis, including one-time items, quarterly earnings came in at 61 cents a share, a substantial improvement from 19 cents posted in the year-ago quarter.
The publisher of The New York Times and The Boston Globe said that total revenue dipped 11.5% to $681.2 million, primarily due to lower print advertising. Total advertising revenue tumbled 14.7% to $398 million, whereas circulation revenue rose 2.4% to $239.3 million due to higher subscription and newsstand prices.
The quarter under review reflects a sequential improvement, as in the third quarter of 2009, when total revenue had dipped 16.9% and total advertising revenue had fallen 26.9%. Gannett Co. Inc. (GCI), the publisher of the nation’s largest-selling daily USA Today, also hinted at improvements in its advertising environment with the U.S. and U.K. economies showing some signs of recovery.
RightNow Exceeds Consensus
RightNow Technologies Inc (RNOW) reported fourth quarter of 2009 earnings per share from continuing operations of 5 cents, exceeding the Zacks Consensus Estimate of 1 cent. This was excluding a non-recurring litigation settlement gain of $1.0 million in the quarter.
Total revenue in the quarter was $41.6 million, compared to $36.1 million in the fourth quarter of 2008. Recurring revenue in the quarter increased 22% to $32.2 million from $26.5 million in the fourth quarter of 2008.
During the reported quarter, recurring revenue grew $5.7 million, or 22% over the fourth quarter of 2008, and grew 8% sequentially over the third quarter of 2009. Recurring revenue was $32.2 million, an increase of 8% from $29.8 million last quarter and a 22% increase over $26.5 million in the fourth quarter last year. Professional service revenue was $9.4 million for the quarter, an increase of approximately $400,000 from the previous quarter.
For the full year 2010, the company expects revenue in the range of approximately $175 to $180 million, with recurring revenue growth expected to be approximately 20%.
For the full year 2010, the company expects income from operations in the range of approximately $6.5 to $9.5 million.
Net income per share for the full year 2010 is expected to be in the range of approximately 14 to 20 cents.
RightNow Technologies Inc. provides customer relationship management (CRM) software and services in the United States, Europe, and the Asia-Pacific. Its CRM software suite includes RightNow Service, RightNow Marketing, RightNow Sales, RightNow Feedback, RightNow Voice, and RightNow Analytics. Major competitors include SAP AG (SAP) and Oracle Corporation (ORCL).
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