2:00PM New York – Church Dwight and theStreet.com soar 10% but Cognizant Technology fell 21% after the release of earnings.
Church & Dwight (
CHD: chart) reported third quarter sales increase of 12% to $580.40 million. Sales excluding the impact of the currency and acquisition rose 6% from a year ago. Earnings in the quarter increased to $51.70 million from $38.7 million a year ago. Earnings per share increased to 75 cents from 57 cents a year ago.
At quarter-end, the Company had total outstanding debt of $867 million and cash of $179 million for a net debt position of $688 million. This compares to total debt of $933 million and cash of $110 million for a net debt position at December 31, 2006 of $823 million.
James R. Craigie, Chairman and Chief Executive Officer, commented, “We are raising our previously announced earnings per share goal of $2.34 to $2.36 to $2.42 to $2.44, including the gain on the property sale, which is equivalent to a 17% to 18% increase over 2006 results. Included in our full year earnings goal is a fourth quarter charge of approximately $0.04 per share, relating to the reorganization of our Canadian business as we continue to take actions to streamline the Company.”
Church & Dwight (
CHD: chart) increased 10.6% to $51.35 in the morning trading.
Cognizant Technology Solutions Corporation (
CTSH: chart) reported third quarter revenue increase of 48% to $558.80 million, earnings of $96 million compared to $61 million, and earnings per share of 32 cents compared to 20 cents a year ago.
European business rose 90% from a year ago, 24% from the previous quarter and now account for 17% of total revenue in the quarter.
The company guided fourth quarter 2007 revenue between $590 million and $595 million. Fourth quarter 2007 diluted earnings per share expected to be $0.31 on a GAAP basis, and $0.34 on a non-GAAP basis, which excludes a stock-based compensation expense of $0.03.
Fiscal 2007 revenue expected to be between $2.125 billion and $2.13 billion, up over 49% compared to 2006. Fiscal 2007 diluted EPS expected to be $1.14 on a GAAP basis, and $1.24 on a non-GAAP basis, which excludes the impact of stock-based compensation expense of approximately $0.10.
Cognizant (
CTSH: chart) stock fell as low as $31.15 or 21% on the earnings news.
The Street.com (
TSCM: chart) reported third quarter revenue of $16.1 million, an increase of 24% from a year ago from $12.9 million. Net income in the quarter increased 22.6% to $3.8 million, excluding one time tax benefit, from $3.1 million a year ago. Earnings per share in the quarter increased to 13 cents from 11 cents a year ago.
Net income, inclusive of a non-cash income tax benefit of $16.0 million related to the recognition of a deferred tax asset on a portion of the Company’s net operating loss benefits, was $19.8 million, or $0.67 per fully diluted share, as compared to $3.1 million, or $0.11 per fully diluted share, in the third quarter of 2006.
The company recently acquired for $20.7 million, internet branding and web design services company Promotions.com, generated $2.3 million in the two months since the acquisition on August 2, 2007.
In August, 2007 The Company’s wholly owned subsidiary, Stockpickr.com became the first financial social networking site to surpass 100,000 user-generated portfolios, making it the fastest growing financial social networking Web site. Today, the number of portfolios stands at more than 125,000,
Marketing services and paid services revenue in the third quarter of 2007 accounted for 43% and 57% of total revenue, respectively. This compares to a revenue mix of 29% for marketing services and 71% for paid services in the third quarter of 2006. For the nine months ending September 30, 2007, marketing services and paid services revenue accounted for 38% and 62%, respectively, as compared to 29% and 71% in 2006.
TheStreet.com reported a 97% year-over-year increase in non-financial advertising revenue in the quarter. Non-financial advertising revenue represents 49% of total advertising revenue in the quarter, up from 30% in the third quarter of 2006.
10:30 AM New York – The U.S. stocks edged higher in the early trading. 
