Varonis Systems Q1 Loss Widens
Varonis Systems Inc. (VRNS) reported that its first-quarter net loss widened to $19.03 million or $0.60 per share from $14.65 million or $0.48 per share in the prior year.
Total revenues for the quarter increased 31% to $95.2 million, from $72.6 million last year.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.12 per share and revenues of $84.36 million for the fourth quarter. Analysts’ estimates typically exclude special items.
The company declared a three-for-one split of Varonis’ common stock in the form of a stock dividend to make stock ownership more accessible to employees and investors. Each stockholder of record at the close of business on March 12, 2021 will receive two additional shares of common stock for each then-held share. Trading will begin on a stock split-adjusted basis on March 15, 2021.
For the first quarter of 2021, the company expects non-GAAP net loss per share to be in the range of $0.39 – $0.41, non-GAAP operating loss of $11.0 million – $12.0 million, and revenues of $68.0 million to $69.5 million or growth of 26% to 28%.
Analysts expect the company to report a loss of $0.32 per share and revenues of $65.14 million for the first-quarter.
Looking ahead for full year 2021, the company expects non-GAAP net loss per share to be in the range of $0.16 to non-GAAP net income per share of $0.03, non-GAAP operating income of break even to $7.5 million, revenues of $357.0 million to $366.0 million, or growth of 22% to 25%.
Wall Street currently is looking for fiscal year 2021 a loss of $0.03 per share on annual revenues of $338.42 million.
Ted Cruz Swipes At ‘Team Biden,’ But ‘Team Cruz’ Gets Totally Dunked Instead
Sen. Ted Cruz (R-Texas), who enabled President Donald Trump and the insidious lies that led to the deadly insurrection at the U.S. Capitol, complained Monday that President Joe Biden’s team is “soft on China.”
“Team Cruz” promptly began trending on Twitter as his critics noted some of the things the Texas Republican is soft on: domestic terrorists, insurrectionists, racists and conspiracy theorists, to name a few. He’s also remarkably lenient on Trump, who publicly called Cruz’s wife ugly during the 2016 presidential campaign.
Cruz and Missouri Sen. Josh Hawley (R) led the charge in bolstering Trump’s fiction about a stolen election and in objecting to Congress’ certification of Biden’s Electoral College victory. The two senators continued to do so even after the certification process was interrupted by a violent mob with a similar objective.
Honda Q3 Profit Climbs, Lifts FY Outlook, Dividend – Quick Facts
Japanese automaker Honda Motor Co. Ltd. (HMC) reported Tuesday that its third-quarter profit attributable to owners of the parent increased 144 percent to 284.05 billion Japanese yen from last year’s 116.43 billion yen.
Earnings per share amounted to 164.51 yen, higher than 66.37 yen a year ago.
Operating profit increased 66.7 percent from the prior year to 277.7 billion yen, due mainly to decreased R&D expenses as well as continuing cost reduction.
Profit before income taxes increased 86.9 percent to 386.4 billion yen.
Consolidated sales revenue edged up 0.6 percent to 3.772 trillion yen from 3.748 trillion yen last year. The results mainly reflected increased sales revenue in Automobile business and Financial services business operations.
Further, Honda Motor said its previously announced forecast for profit for the fiscal year attributable to owners of the parent was revised upward by 75.0 billion yen to 465.0 billion yen, a year-on-year increase.
The company’s previously announced forecast for consolidated operating profit was revised upward by 100.0 billion yen to 520.0 billion yen. This was despite the impact of both the COVID-19 pandemic and the shortage of semiconductor supply.
The company also revised upward its earlier announced forecast for total dividends to be paid for the fiscal year by 14 yen per share to 82 yen per share. The quarterly dividend for the fiscal third quarter will be 26 yen per share.
In Japan, Honda Motor shares were trading at 2,977 yen, down 1.19 percent.
OSRAM Licht Q1 Profit More Than Doubles; Lifts FY Outlook – Quick Facts
OSRAM Licht AG (OSAGF.PK) reported that its first-quarter net income attributable to shareholders increased to 16 million euros or 0.17 euros per share from last year’s 7 million euros or 0.08 euros per share reflecting favorable business momentum.
Net income for the quarter was 7 million euros compared to a loss of 2 million euros in the previous year.
Revenue for the quarter declined to 840 million euros from 873 million euros last year.
As part of ongoing portfolio evaluation, the company said it has decided to start the search process for a new best owner for the DI lighting components business. Meanwhile, OSRAM and ams are working together to complete the business combination, pending court procedures regarding DPLTA registration.
Looking ahead, the company now expects fiscal 2021 comparable revenue growth to be in the range of 10% – 14% and adjusted EBITDA margin of 12% – 15%. Previously, the company expected fiscal 2021 comparable revenue growth to be in the range of 6% – 10%, and adjusted EBITDA margin between 9% and 11%.
DMG Mori Q4 Profit Drops – Quick Facts
DMG Mori (MRSKY), a German manufacturer of cutting machine tools, reported that its fourth-quarter earnings after taxes dropped to 15.4 million euros from 47.1 million euros in the previous year.
EBIT were 28.3 million euros down from 67.3 million euros in the previous year.
Sales revenues for the fourth-quarter declined to 526.0 million euros from 808.9 million euros in the prior year. Quarterly order intake was 411.6 million euros down from 554.7 million euros in the previous year.
Demand for machine tools in 2020 declined significantly due to the already weak global economy and rapid spread of the corona virus.
Global machine tool consumption is expected to recover slowly in 2021 after the sharp decline in 2020. The German Machine Tool Builders’ Association and the British economic research institute Oxford Economics forecast growth of 17.7% to 64.9 billion euros compared to last year. However, it cannot be excluded that those forecasts will have to be adjusted during the year due to the continuing global uncertainties and the corona pandemic including virus mutations, the company said.