[opendtv] News: Scientific-Atlanta net up 31 percent on DVR demand

http://www.macon.com/mld/macon/business/9980385/d on Thu, Oct. 21, 2004

Scientific-Atlanta net up 31 percent on DVR demand

Associated Press

ATLANTA - Continued demand for digital video recorders pushed profit 
up 31 percent at Scientific-Atlanta Inc., a leading maker of cable 
set-top boxes and modems.

The company Thursday said its earnings for the fiscal first quarter 
ended Oct. 1 rose to $55.9 million, or 36 cents a share, matching the 
average forecast by analysts surveyed by Thomson First Call.

It earned $42.7 million, or 28 cents a share, in the same period last year.

Sales increased 14 percent to $452.7 million from $395.6 million a 
year earlier, but fell short of analysts' mean forecast of $461 
million.

Scientific-Atlanta said demand for its DVRs remains strong, with 
397,000 shipped during the quarter. The company also said it sold 
416,000 cable modems, a record number for any quarter.

Gross margin in the first quarter was 36.6 percent of sales, down 0.6 
percentage points from last year and 0.2 points from the second 
quarter, in part due to the continued demand for lower-margin DVRs. 
The company said lower selling prices in the quarter were partially 
offset by cost reductions and insurance proceeds related to a fire at 
a vendor's plant in fiscal 2004.

The company's backlog at the end of the quarter was $442.4 million, 
up 23 percent from a year earlier but down 11 percent from the 
previous quarter.

Shares of Scientific-Atlanta changed hands at $28.04 in extended 
trading, down 2 percent from their close of $28.67 in New York Stock 
Exchange trading.
 
 
----------------------------------------------------------------------
You can UNSUBSCRIBE from the OpenDTV list in two ways:

- Using the UNSUBSCRIBE command in your user configuration settings at 
FreeLists.org 

- By sending a message to: opendtv-request@xxxxxxxxxxxxx with the word 
unsubscribe in the subject line.

Other related posts: