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IBA completes iSoft takeover
The saga of IBA Health's acquisition of iSoft has now been concluded, following the completion of legal manoeuvres which allow the takeover to go ahead. The London Stock Exchange suspended trading of UK healthcare software company iSoft shares on 25 October, after the High Court of Justice of England and Wales approved healthcare vendor IBA's revised scheme to take over the company from that day. IBA shareholders were formally notified on the following day that the acquisition would be effective as of 30 October, coming in at a total cost of 166m. IBA will be holding its annual general meeting on 30 November, when it is expected that its directors will announce a recommendation to change its name to IBA Health Group Ltd, according to a statement released on Wednesday.
Citrix Systems Tops Estimates
The Fort Lauderdale, Fla., software developer reported revenue of $399.6 million, up 24.5% from a top line of $321 million a year ago. Revenue was also 5% above analysts' estimates of $380.4 million, according to Thomson Financial. Net income rose 19%, to $62.8 million, or 33 cents a share, from $52.9 million, or 29 cents a share, in the year-ago period. Excluding items, EPS was 49 cents, well ahead of analysts' expectations for 43 cents a share. The stock was up $3, or 9.4%, to $35 in after-hours trading. The board added $300 million to its share-repurchase program Wednesday. Citrix retired about 5.4 million shares during the quarter at a cost of $213 million, CFO David Henshall said on a conference call. Citrix forecast first-quarter revenue of $367 million to $377 million and EPS, less items, of 33 cents to 35 cents.
Apple earns $1.58 billion in first quarter but stock falls on outlook
Apple beat Wall Street expectations with its earnings report Tuesday, but shares of its stock fell more than 11 percent in after-hours trading as investors fretted over its future. Apple earned $1.58 billion, or $1.76 per diluted share, in the first quarter of fiscal 2008, compared to $1 billion, or $1.14 a share, in the same period in 2007. Revenue was $9.6 billion, up from $7.1 billion. But while Apple executives touted those as record-setting figures, investors focused on projections for the next quarter which were lower than what analysts had expected. Apple said it expected revenue of about $6.8 billion for the second quarter, or diluted earnings of 94 cents a share. Peter Oppenheimer, Apple's chief financial officer, gave two reasons for the lower forecast: a decline in software sales and the normal slowdown in business after Christmas.
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