Getty Images Inc. (GYI) reported fourth quarter EPS of $0.46 after the bell on Thursday, which topped the consensus estimate of $0.43. The company expects to report first quarter EPS of $0.51 to $0.54 and full year 2005 EPS of $2.10 to $2.20. The consensus estimates are for EPS of $0.52 and $2.09 respectively.

Getty Images Inc. gapped up sharply Friday morning and has since climbed gradually higher, now up 4.60 at $70.50 on above average volume. The stock has risen above a 6-week range and is now trading at a new high for the year.

Friday morning, Littelfuse Inc. (LFUS), an electronics instruments and controls company, revealed that it has reduced its staff in selling, administrative and other overhead functions due to slow down in sales. The company expects a pre-tax charge of approximately $3.5 million in the first quarter and anticipates annual savings of approximately $5 million.

The Des Plaines, Illinois-based Littelfuse disclosed that the decision was taken in tune with their strategy to reduce overhead expenditures without diluting its efforts on strategic initiatives for new product development and solution selling.

The company's President and CEO, Gordon Hunter, commented, "The recent slowdown in a few of our key markets has caused us to take action to better align expenses with current business levels."

Currently, LFUS is trading $0.15 down at $31.34.

Crude futures fell Friday on speculation that the Organization of Petroleum Exporting Countries, which pumps more than a third of the world's oil, will not cut production at a meeting Sunday.

However, analysts said the market remained jittery amid concerns over the first democratic elections in Iraq since the U.S.-led war, also scheduled for Sunday.

Light, sweet crude for March delivery dropped 42 cents to $48.42 a barrel on the New York Mercantile Exchange in electronic trading in Europe. February heating oil fell by around 1.6 cents to $1.3810 a gallon.

In London, Brent for March delivery fell 54 cents to $45.90 on the International Petroleum Exchange.

"Certainly, the market seems like its holding its breath, waiting for the OPEC meeting," said Victor Shum, oil analyst at Purvin & Gertz, an energy consulting agency.

OPEC agreed in December to cut production by 1 million barrels a day starting this month to bring output closer to its self-imposed target of 27 million barrels a day.

OPEC members have suggested the group may not cut output quotas further because prices are already high enough. Ali Naimi, oil minister for the group's largest producer, Saudi Arabia, said Thursday that members will wait until the March meeting to decide on further cuts.

Yet traders still believed in the possibility that "OPEC could pull a surprise," Shum said.

Traders are anxious too about Iraq's election, fearing that an upsurge in violence could hit southern exports, which have been largely spared the repeated sabotage that has paralyzed northern flows for more than a month.

Around 9,000 Iraqi troops are being dispatched to guard oil pipelines over the election period to stop further attacks.

Insurgents stepped up attacks Thursday against polling centers across Iraq, killing at least a dozen people, including a U.S. Marine, in the rebel campaign to frighten Iraqis away from participating in the poll.

 Buckeye GP LLC, the general partner of Buckeye Partners, L.P (BPL), a petroleum products refinery, announced its fourth quarter financial results reporting earnings that came in below estimates, despite an increase in revenues.

The company posted net income for the quarter at $22.3 million or $0.67 per share, compared to net income of $21.8 million or $0.75 per share in the year-ago quarter. On average, 7 analysts polled by First Call/ Thomson Financial estimated earnings for the quarter at $0.74 per share.

Fourth quarter operating income climbed to $36.5 million from $30.1 million in the corresponding quarter last year.

Quarterly revenues increased to $99.2 million from revenues of $70.1 million in the fourth quarter of 2003.

For the full year 2004, Buckeye recorded net income of $82.9 million or $2.76 per share, compared to net income of $30.2 million or $1.05 per share in 2003.

Fiscal 2004 operating income was $122.1 million, when compared to operating income of $109.3 million recorded in the prior year.

Revenues for 2004 were posted at $323.5 million, increasing from revenues of $272.9 million in the previous year.

The statement revealed that the fourth quarter and full year results reflected the effects of pipelines and terminals acquired from Shell.

In addition, the company declared quarterly partnership cash distribution of $.68 per unit payable on February 28, 2005, to unit holders of record on February 7, 2005.

BPL closed Thursday's regular trading session at $44.40.

Helix Technology Corp. (HELX) reported fourth quarter net income, excluding adjustments, of $2.5 million or $0.10 per share, compared to net income of $0.8 million or $0.03 per share in the prior year quarter.

On average, 7 analysts polled First Call/ Thomson Financial estimated earnings for the quarter at $0.11 per share.

Sales for the fourth quarter was posted at $34.9 million, compared to $31.7 million in the year-ago quarter.

Eli Lilly and Company (LLY), an innovation-driven pharmaceutical company and Boehringer Ingelheim Pharmaceuticals Inc. jointly announced that following discussions with the officials of the U.S. Food and Drug Administration (FDA), Eli Lilly has withdrawn its new drug application for duloxetine hydrochloride for the treatment of stress urinary incontinence, or SUI.

The companies, which signed a global long-term agreement to jointly develop and commercialize duloxetine hydrochloride for the treatment of stress urinary incontinence (SUI), depression and diabetic peripheral neuropathic pain (DPNP), revealed that the FDA is not prepared at this time to grant approval for duloxetine for the treatment of SUI patient population based on the data package submitted.

While conforming that the ongoing trials for duloxetine SUI would continue, the two companies stated that they would evaluate all options for further steps after fully understanding the FDA's perspective in this regard.

Stress urinary incontinence, or SUI, is the accidental leakage of urine during physical activities such as sneezing, coughing, laughing, lifting or exercising.

The companies revealed that withdrawal of NDA does not affect the marketing status of duloxetine for the indication of depression and diabetic peripheral neuropathic pain in the U.S. or the SUI and depression indications outside of the United States.

Duloxetine for the treatment of SUI, marketed as Yentreve and AriClaim outside of the United States, has been deemed safe and effective by regulatory authorities that have granted its approval in 27 countries throughout the world.

The stock of Eli Lilly is currently trading at $54.72, down $0.85.

Stewart Enterprises, Inc. (STEI) lowered its first quarter earnings outlook due to a 5% decline in the number of events performed by its funeral homes and cemeteries during the first two months of its fiscal year. However, the company did not change its fiscal 2005 guidance.

For the first quarter, the company now expects adjusted earnings per share from continuing operations to be in the range of $0.09 to $0.11, compared to its prior guidance of $0.11 to $0.13 per share. On average, 4 analysts polled by First Call/Thomson Financial expect first quarter earnings of $0.13 per share.

The company's first quarter earnings forecast excludes $2.7 million ($1.7 million after tax, or $0.02 per share) charge for early extinguishment of debt related to the refinancing of its credit facility in November 2004.

As per its previous announcement, the company recently began a tender offer for all $300 million of its outstanding 10 3/4% senior subordinated notes due in 2008, as part of a plan to refinance these notes.

Assuming the refinancing is completed as currently anticipated, the notes would be refinanced about five months earlier than previously forecasted. This would reduce its forecasted 2005 interest expense, which would create a corresponding positive impact on its forecast for adjusted earnings from continuing operations for fiscal year 2005, the company noted.

Meanwhile, the company still expects 2005 adjusted earnings from continuing operations of $0.44 to $0.48, excluding any charges for early extinguishment of debt and any potential gains or losses from asset dispositions. On average, 4 analysts expect 2005 EPS of $0.46 per share.

Stewart Enterprises 2005 forecast excludes interest savings of $0.02 to $0.03 per share, which would result from the anticipated refinancing, if it is successfully completed, depending on the final terms of the new debt. Assuming the purchase of all notes in the tender offer and based on financial market conditions at the time of commencement of the offer, the company anticipates an early extinguishment of debt charge of about $29 million, higher than its prior estimate of about $20 million. The earlier forecast was based on the assumption that it would redeem the notes on July 1, 2005, the company said.

The company further noted that the actual charge related to the tender offer would depend on the actual results of the tender offer.

STEI is currently trading at $6.72.

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1/28/2005 10:09:46 AM Oshkosh Truck Corp. (OSK) has been climbing to the upside for the majority of Friday morning and is now higher by 2.53 at $72.51.

Oshkosh Truck Corp. has risen to a new 52-week high.

1/28/2005 10:06:42 AM Packeteer Inc. (PKTR) reported fourth quarter EPS of $0.14 after the close on Thursday, compared to the $0.10 reported last year.

Packeteer Inc. gapped open higher Friday morning and has since climbed to the upside on above average volume, now up 1.43 at $15.65. The stock has risen above over a 5-week range and is trading at nearly a 7-month high.

Commerce Group Inc. (CGI) reported fourth quarter EPS of $2.14 after the close on Thursday, compared to the $1.65 reported last year.

Commerce Group Inc. gapped up Friday morning and has since climbed higher on above average volume, now up 3.09 at $62.11. The stock is now challenging resistance at the highs of the year, trading at a 5-week high.

 Hologic Inc. (HOLX) has been climbing to the upside for the majority of Friday's session and is now higher by 1.59 at $35.31.

Hologic Inc. has been heading higher for the last 2 weeks and is now trading at a new 52-week high.

IDEXX Laboratories, Inc. (IDXX), a Maine-based biotechnology firm, announced its fourth quarter earnings that rose on higher revenues over last year.

Idexx revealed its fourth quarter net income of $16.9 million, or $0.49 per share, compared to net income of $12.4 million, or $0.34 per share, in the year-ago quarter. The year-ago earnings per share reflect a negative effect of $0.12 per share, resulting from the write-down of fixed assets, and a positive effect of $0.03 per share as a result of a reduction of an estimated liability for a third party claim and revision of an estimate of collectability.

On average, 4 analysts polled by First Call/Thomson Financial had expected the fourth quarter earnings to be at $0.48 per share.

The company's revenues for the quarter rose 16% to $144.3 million from $124.8 million last year.

Full year results:

For the full year, Idexx reported a net income of $78.3 million, up 37% from $57.1 million in 2003. On a per share basis, the earnings, including items, were $2.19 and $1.59, respectively.

Revenues for the year 2004 grew 15% to $549.2 million from $476.0 million in the previous year.

Outlook for First Quarter 2005:

Looking ahead, the company said its sees its earnings for the first quarter to be in the range of $0.47-$0.48, including about $0.03 of anticipated acquisition integration costs, on revenues of $152-$154 million. The current consensus of analysts polled by First Call/Thomson Financial on the first quarter earnings and revenues are $0.53 per share and $143.71 million, respectively.

Forecast for full year 2005:

Further, Idexx said it expects its full year earnings to range at about $2.20-$2.25 per share, with revenues expected to be at about $630-$640 million. Analysts surveyed by Thomson First Call currently expect the full year earnings and revenues to average at $2.27 per share and $599.59 million, respectively.

IDXX is currently trading at $55.81, down $1.27.

ITT Industries, (ITT) announced its fourth quarter financial reports, reporting increased net income after adjustments of special items, from last year, on the back of higher revenues. Additionally the company confirmed its full year out look for the FY2005 projected earnings and revenues.

The White Plains, New York-based provider of advanced technology products and services in fluid and water management market, stated that the adjusted net income from continuing operations rose to $121.6 million or $1.28 per share from $108.1 million or $ $1.06 per share in the previous year. These earnings came in above the consensus $1.25 per share of 15 analysts polled by First call/Thomson Financial for the quarter.

The company's unadjusted net income for the quarter was $121.6 million or $1.29 per share, compared to $108.1 million or $1.15 per share in the year-ago quarter.

Quarterly revenues rose to $1.9 billion or $1.5 billon in the prior year quarter, in comparison to the analysts' expectations of $1.82 billion.

For the full fiscal 2004,the company reported an adjusted net income of $432.3 million, which rose from $403.9 million in the prior year. Earnings improved to $4.58 per share from $4.29 per share last year in comparison to the analysts expectation of $4.50 per share for the full year.

Driven by increased sales in all the segments, full year revenues jumped to $6.8 billion from $5.6 billion, while the analysts expected the company's full year revenues at $6.65 billion.

Looking ahead, the company said it is maintaining its next year's outlook on earnings and revenues and reiterated its earlier guidance of earnings range of $5.00 - $5.15 per share with revenue of $7.15 - $7.43 billion. The analysts expect the company to earn $5.13 per share for the next year on revenues of $7.42 billion.

ITT is currently down $0.70 and trading at $83.35.