By William Trent, CFA of Stock Market Beat
Clean water enabler Dionex (DNEX) Reported Record Net Sales and Earnings for the Third Quarter:
For the third quarter of fiscal 2007, sales were $85.0 million, an increase of 15% compared with the $73.7 million reported in the third quarter of last year. Currency fluctuations increased sales by $2.5 million, or 3%, for the third quarter compared with the same period last year. Diluted earnings per share were $0.59 for the third quarter, an increase of 18%, compared with the $0.50 reported in the third quarter of last year.
Analysts were expecting $0.55 on $80 million in sales. For next quarter, the expectations of $0.56 on $82 million in sales were within the guidance range issued:
We believe that our strong performance in the third quarter leaves us well positioned for good sales and earnings growth in the fourth quarter. We estimate that net sales will be in the range of $79-$83 million in the fourth quarter and that diluted earnings per share will be in the range of $0.54-$0.58 per share. We are increasing our sales and EPS guidance for the full year. For the full year, we estimate that sales will be in the range of $320-$324 million and diluted earnings per share will be $2.24-$2.28.
Shares traded off somewhat after market hours, as it is probably due for a breather after its 40% run since September 2006. Longer term, the increasing concern over rocket fuel in the water supply presents an opportunity.
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