Several companies declared their quarterly earnings before the market opened today, while many companies are scheduled to unveil their financial results after the closing bell. Some notable earners are discussed here.
IntraLinks Holdings, Inc. (NYSE: IL), which provides on-demand solutions for businesses, declared its fiscal 2011 second quarter earnings early today. It registered net profit of $7 million, or break even on a per share basis, reversing a net loss of $3.9 million, or $1.78 per share, a year ago. During the quarter, the company's revenue rose to $53.3 million. Analysts had estimated a profit of 14 cents on a per share basis and revenue of $54.9 million for the company. The company's growth topped market expectations as sales at its mergers and acquisitions unit jumped 29 percent. It forecast its third-quarter EPS to miss estimates. It expects adjusted profit of 11 to 13 cents per share on revenue of $54 to $56 million. Shares were down 10.24 percent or $1.24 to trade at $11 in the opening session.
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TearLab Corp. (Nasdaq: TEAR), which develops and markets lab-on-a-chip technologies that enable eye care practitioners to improve standard of care by objectively and quantitatively testing for disease markers in tears at the point-of-care, announced its consolidated financial results for Q2 FY2011. It reported an increase in its Q2 net loss to $4.8 million, or 31 cents per share, compared to a net loss of $1.5 million, or 10 cents per share, a year earlier. The company's net revenues were $468,000 as compared to $418,000 a year ago. CEO Elias Vamvakas said, "The recent financing has provided TearLab with sufficient resources to fully execute its plans for the commercial roll-out of the TearLab Osmolarity test." Shares were trading at $1.73 in the morning session, with zero percent change on its last close.
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Macy's Inc. (NYSE: M), is a US chain of mid-to-high range department stores, reported its Q2 FY2011 before the market opened today. During the period, the company registered 64 percent increase in its net income to $241 million, or 56 cents per basic share, up from net income of $146 million, or 35 cents per basic share, a year earlier. The company's sales rose 7.3 percent to $5.9 million from $5.5 million in the second quarter of 2011.