Arkansas Best (ABFS) Changes Nonunion DB Pension Plan; Sees Material Impact May 17, 2013 04:03PM

Arkansas Best Corporation (Nasdaq: ABFS) announced today that it has adopted changes to its nonunion defined benefit pension plan ("the Plan"). The changes affect all active Plan participants including all management executives who are participants. The change is being made to reduce the ongoing costs, including administrative and regulatory costs, associated with the Plan.

Effective July 1, 2013, the Plan will be frozen with the result that the accrual of future benefits under the Plan will stop. Retirement benefits earned by participants through June 30, 2013 will be preserved. In accordance with legal requirements applicable to pensions, the Plan changes will not impact the vested pension benefits of retirees or former employees. Active employees participating in the Plan will become eligible for the discretionary defined contribution plan effective July 1, 2013.

While the precise amount of net savings resulting from the changes to the Plan and participation in the discretionary defined contribution plan cannot be determined at this time, Arkansas Best expects that the reduction in this expense will be material going forward.


Perficient (PRFT) Announces Acquisition of Clear Task; Rasies Outlook May 17, 2013 09:02AM

Perficient, Inc. (Nasdaq: PRFT) has acquired San Francisco-based Clear Task, Inc., an $8 million annual services revenue consulting firm focused entirely on the salesforce.com product suite.

Perficient’s current annualized revenues are now approaching $380 million, and the transaction is expected to be accretive to adjusted earnings per share immediately. With the acquisition, the company is raising its full year 2013 revenue guidance to a range of $362 million to $382 million from the previously provided range of $358 million to $378 million.

*** The Street sees FY13 revs of $363.3 million.


Brocade (BRCD) Q2 Comes In-Line, But Guidance Irks Investors - Analyst May 17, 2013 07:12AM

Brocade (Nasdaq: BRCD) shares are lower following fiscal Q213 results issued after markets closed on Thursday. The company reported EPS of 17 cents and revs of $538.8 million, with the Street at EPS of 15 cents and revs of $544.2 million. Management guided for Q3 revs of $510 million to $530 million, with the Street at revs of $556 million.

Lazard Capital is out with a few comments on the results. Analyst Ryan Hutchinson noted that results were in-line with what was preannounced earlier in May, but guidance for fiscal Q313 missed the target. He said, "After several consecutive quarters of improvement this is a step back, and we see the potential for ongoing realignments under new management (which could cause further disruption). That said, we would like to see increased stability in the IP business as well as more clarity around strategic direction in the coming quarters."

On gidance, Hutchinson noted, "By segment, SAN is expected to decline 8%-11% q/q, while IP networking revenue is forecasted to be up 3%-11% q/q. The company remains cautious surrounding the broader spending environment, particularly around the storage market, Europe, and U.S. federal."

Lazard has Brocade at Neutral with no price target. Shares of Brocade are down 2.4 percent early.

For an analyst ratings summary and ratings history on Brocade click here. For more ratings news on Brocade click here.

Shares of Brocade closed at $5.74 yesterday, with a 52 week range of $4.18-$6.44.


Donaldson Co., Inc. (DCI) Misses Q3 EPS by 3c; Guides FY13 Below Views May 17, 2013 07:01AM

Donaldson Co., Inc. (NYSE: DCI) reported Q3 EPS of $0.46, $0.03 worse than the analyst estimate of $0.49. Revenue for the quarter came in at $619 million versus the consensus estimate of $659.41 million.

Donaldson Co., Inc. sees FY2013 EPS of $1.57-1.65, versus the consensus of $1.69. Donaldson Co., Inc. sees FY2013 revenue of $2.40-2.45 billion, versus the consensus of $2.51 billion.

For earnings history and earnings-related data on Donaldson Co., Inc. (DCI) click here.


iSoftStone Holdings (ISS) Tops Q1 EPS by 1c; Guides Q2, FY13 May 17, 2013 06:43AM

iSoftStone Holdings (NYSE: ISS) reported Q1 EPS of $0.10, $0.01 better than the analyst estimate of $0.09. Revenue for the quarter came in at $95.9 million versus the consensus estimate of $93.93 million.

Sees Q2 non-GAAP earnings of at least $0.14 per ADS and revs of at least $108. The Street is looking for earnings of $0.17 per ADS and revs of $111 million.

Sees FY13 adjusted earnings of at least $0.68 per ADS and revs of $467 million or better. The Street sees earnings of $0.67 per ADS and revs of $463.3 million.

For earnings history and earnings-related data on iSoftStone Holdings (ISS) click here.


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