by Robert Sheard (MF DowMan)
LEXINGTON, Ky. (May 1): Languishing quietly in IFG obscurity in recent weeks, Bio-Rad Labs <% if gsSubBrand = "aolsnapshot" then Response.Write("(AMEX:BIO/A)") else Response.Write("(AMEX:BIO/A)") end if %> rushed to the forefront today after posting better-than-expected earnings late yesterday. The stock advanced some 8% today as a result. Sales, operating income, net income, and earnings per share all established new records for the first quarter - typically Bio-Rad's best quarter of the year. Sales were up 11% to $108.3 million, operating income advanced 10% to $14.0 million, and earnings per share climbed 17% from $0.99 a share to $1.16. The one broker following the stock in First Call's database was expecting EPS of $1.08. In addition to sales increases, Bio-Rad Labs was able to lower its operating expenses as a percentage of sales, which helped to offset the lower gross margins for the quarter. The company also announced that its Board approved a 3-for-2 stock split for both the Class A and Class B shares. It will take the form of a 50% stock dividend payable on May 31 to stockholders of record on May 16. Checkpoint Systems <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:CKP)") else Response.Write("(NYSE:CKP)") end if %>, true to its strategy of pursuing grocery and drug store chains, announced another new client today. Kinney Drugs, a chain of 45 stores in New York and Vermont, has chosen Checkpoint's radio frequency (RF) electronic surveillance system after testing both RF and acousto-magnetic systems. According to Lynn Warden, director of loss prevention for the Gouverneur, New York-based drug store chain, Kinney chose Checkpoint's RF EAS systems because they best met the chain's present and future security needs. "Looking ahead, we believe that RF EAS best lends itself to source tagging. For the present, the thinness of the RF labels makes them easier to apply when we do our own tagging. In addition, the versatility of the RF label and the performance of the system were key factors in the decision-making process," said Mr. Warden. And finally for the day, two IFG stocks join forces. The Data Access Division of Sterling Software <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:SSW)") else Response.Write("(NYSE:SSW)") end if %>, today announced a business alliance with Oracle <% if gsSubBrand = "aolsnapshot" then Response.Write("(NASDAQ:ORCL)") else Response.Write("(NASDAQ:ORCL)") end if %>. The goal of the alliance, which packages Sterling's CLEAR product suite and Oracle Express Server, is to provide Sterling and Oracle customers with simplified access to, and manipulation of, large amounts of complex data by combining these two complementary online analytical processing (OLAP) technologies. Oracle is currently in the IFG model portfolio and on the most recent current list. Sterling Software is currently held in the Relative Strength model portfolios and again made the top ten Classic IFG list against last weekend. Transmitted: 5/1/96 5:51PM | ||||||||
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