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Earnings Review: March 16, 2009
By: iStockAnalyst   Monday, March 16, 2009 7:42 PM

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(By Salman - iStockAnalyst Writer)

Late on Monday, Biolase Technology Inc. (NASDAQ: BLTI) announced that its fourth quarter loss widened to $5.29 million, or 22 cents a share, compared to a loss of $1.15 million, or 5 cents a share, in the prior year quarter. Revenue decreased to $11.64 million from $20.84 million. Analysts on average were looking for a loss of 11 cents a share on revenue of $13.53 million. Biolase Chief Executive Officer David Mulder commented "The top line result for Biolase as for most medical capital equipment suppliers has been impacted substantially by macroeconomic factors from late summer through today."

Carmike Cinemas Inc. (NASDAQ: CKEC) reported a narrower fourth-quarter loss of $34.6 million, or $2.73 a share, compared to a loss of $68.3 million, or $5.40 a share, in the year ago quarter. On an adjusted basis, the company reported a profit of $1.7 million, compared to an adjusted net loss of $4.9 million in the fourth quarter of 2007. Revenue grew to $117.4 million from $115.7 million. Analysts on average had forecast a loss of 18 cents a share on revenue of $115.48 million. Chairman David Passman stated “We finished 2008 with a solid fourth quarter, highlighted by a 10 percent increase in theatre level cash flow, compared to the year-ago quarter. Although the domestic economy continues to be challenged, Carmike and the exhibition industry as a whole have demonstrated our resilience." Shares of the company surged 22.86% in extended trading.

Cenveo Inc. (NYSE: CVO) swung to a fourth quarter loss of $309.6 million, or $5.71 a share, compared to profit of $18.8 million, or 34 cents share, in the same quarter a year ago. On adjusted basis, the company earned $26 million, or 48 cents a share from continuing operations. Revenue slipped to $517.2 million from $584.4 million. Chairman and Chief Executive Officer Robert G. Burton said "Despite the most challenging economic and market conditions that I have encountered in my entire business career, Cenveo was able to deliver strong operational performance highlighted by record financial results across a number of key metrics. Shares of Cenveo Inc fell 6.37% in late trading.

Emeritus Corp. (NYSE: ESC) reported a wider fourth-quarter loss of $30.5 million, or 78 cents a share, compared with a loss of $25.8 million, or 66 cents a share, in the comparable quarter, last year. Revenue grew 11% to $203.6 million, from $183.6 million. Consensus estimates were for a loss of 56 cents s share, on revenue of $197.4 million.

ENGlobal Corp. (NASDAQ: ENG) said that its fourth-quarter profit more than doubled to $4.10 million, or 15 cents a share, from $1.42 million or 5 cents a share, in the year earlier quarter. Revenue jumped 43% to $136.00 million from $95.20 million. Analysts on average had projected earnings of 17 cents a share on revenue of $118.65 million.

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The above story is the opinion of the author only and it does not reflect iStockAnalyst opinion. Further, the author is not personally advising you regarding the suitability of the story for your investment needs. In no event iStockAnalyst will be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from or arising out of, or in connection with the use of this information. Please consult your investment advisor before making any investment decision.
  
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