Integrated Silicon Solution, (Nasdaq: ISSI) $7.49. Announced Monday after market close its financial guidance for the second fiscal quarter ending March 31, 2010. During the March quarter to date, the Company has experienced better than expected end market demand and pricing, primarily for its DRAM products. As a result, the company is increasing its revenue and margin guidance for the quarter. In addition, due to higher than expected new product mask costs and non-executive employee compensation, the Company now expects its operating expenses to be higher than previously expected. The Company also expects its net income and earnings per share to be higher than its prior guidance. ISSI's updated guidance for the March quarter is as follows:
Revenue to be between $54 million and $56 million compared to previous guidance of $48 million to $52 million. Gross margin to be between 34 percent and 38 percent compared to previous guidance of between 28 percent and 32 percent. Operating expenses to be in a range of $14.0 million to $14.6 million compared to previous guidance of $12.4 million to $13.0 million. Net income to be between $0.20 and $0.24 per fully diluted share compared to previous guidance of between $0.08 and $0.12 per share.
What They Do: ISSI is a fabless semiconductor company that designs and markets high performance integrated circuits for the following key markets: Digital consumer electronics, Networking, Mobile communications, Automotive electronics, and Industrial. The Company's primary products are high speed and low power SRAM and low and medium density DRAM.
Jones Soda Co. (Nasdaq: JSDA) $0.52. Announced Monday after market close that it has terminated the exclusivity provisions of the letter of intent with Reed’s, Inc. in order to explore an unsolicited, nonbinding transaction proposal submitted by another third party. The company announced on March 9, 2010 that the company and Reed’s had entered into a letter of intent regarding a potential merger transaction. The company has informed Reed’s that it continues to be interested in discussing a transaction with Reed’s, but the Board of Directors also intends to investigate the third party proposal and any other strategic alternatives presented to the Board. In accordance with the letter of intent with Reed's, the company will reimburse Reed's for its third party out-of-pocket expenses (not to exceed $75,000). Jones Soda has not entered into a letter of intent with respect to the unsolicited transaction proposal, and there can be no assurance that a transaction with the third party will be consummated. The company does not intend to disclose developments with respect to evaluation of these or any other potential transactions unless and until its Board of Directors deems it appropriate.
What They Do: Jones Soda Co. markets and distributes premium beverages under the Jones Soda, Jones Pure Cane Soda, Jones 24C, Jones GABA, Jones Organics, Jones Naturals and Whoopass Energy Drink brands and sells through its distribution network in markets primarily across North America.
Raven Industries, Inc. (Nasdaq: RAVN) Announced Monday after market close that its board of directors approved a 14 percent increase in the company's regular quarterly cash dividend to 16 cents per share. The dividend is payable April 15, 2010, to shareholders of record on March 31, 2010. This is the company's 24th consecutive annual cash dividend increase.
"Despite the weak economy, Raven has retained its strong balance sheet and operating cash flows," said Ronald Moquist, president and chief executive officer. "Our shareholders expect solid cash returns on their investment in Raven and we are pleased to increase our dividend payout. Although we believe the tough marketplace will continue throughout this year, we plan to deliver solid growth via new products and geographic expansion. Based on this strategy we remain confident in our ability to sustain this increased dividend level."
What They Do: Raven is an industrial manufacturer that provides electronic precision-agriculture products, reinforced plastic sheeting, electronics manufacturing services and specialty aerostats and sewn products to niche markets.
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