Wynn Resorts Misses Estimate, Shares Slid (WYNN, REN, SSNC, DNDN)
Wynn Resorts, Limited (NASDAQ:WYNN) shares declined 1.53% to $123.27 in the pre-market sessions after the company reported first-quarter net income of $146 million or $1.23 per share, as compared to $174 million or $1.39 per share last year. Adjusted earnings for the quarter were $152 million or $1.33 per share, compared to $173.4 million or $1.38 per share last year. Net revenue for the quarter was $1.31 billion, compared to $1.26 billion last year. Analysts expected earnings of $1.41 per share on revenue of $1.33 billion for the quarter.
Resolute Energy Corp (NYSE:REN) reported a first quarter net loss of $0.7 million, or $(0.01) per share, on revenue of $63.5 million, including unrealized losses on derivative instruments of $5.3 million. This compares to a net loss of $16.8 million, or ($0.32) per share in the first quarter of 2011, which included unrealized losses on derivative instruments of $34.6 million.
SS and C Technologies Holdings Inc (NASDAQ:SSNC) reported first-quarter net income of $17.9 million or $0.22 per share, as compared to $9.8 million or $0.12 per share last year. Adjusted earnings for the quarter were $23 million or $0.28 per share. Revenue for the quarter was $93.7 million, compared to $89 million last year. Analysts expected earnings of $0.28 per share on revenue of $95.55 million for the quarter.
Looking forward, the company expects second quarter revenue in the range of $95.5 – $97.5 million and adjusted net income of $24.0 – $24.8 million. For fiscal 2012, the Company expects revenue in the range of $392.0 – $400.0 million and adjusted net income in the range of $99.0 million to $103.5 million.
Dendreon Corporation (NASDAQ:DNDN) shares declined 10.18% to $10.50 in the pre-market hour after the company reported a first-quarter loss of $103.9 million or $0.70 per share, narrowed from $112.8 million or $0.78 per share in the prior-year period, helped mainly by higher revenues. Adjusted loss for the period was $87.1 million or $0.59 per share. Revenues surged to $82.1 million from $27.0 million in the same quarter last year. Analysts expected the company to report a loss of $0.63 per share on revenues of $81.23 million for the quarter.