Energizer Holdings (ENR) reported results for the fourth quarter with earnings of 53 cents per share. Earnings were well below the Zacks Consensus Estimate of $2.01 and were down 68% year-over-year. Total sales declined 3.9% year over year to $1.1 billion, primarily due to sales declines in Household Products and the unfavorable impact of foreign exchange. Net sales in the Household Products category fell 14.0%, as prior-year shipments due to hurricanes and early holiday shipments ahead of announced price increase did not repeat in the current year quarter. Further, currency also impacted the top line unfavorably by $25 million. However, net sales in the Personal Care segment increased 12% primarily from the shave preparation acquisition. Gross margin for the quarter contracted 371 basis points (bps) to 43.9% versus 47.6% in the prior-year quarter. The decline was attributable to the unfavorable impact of currency and inventory ...

For the second quarter of fiscal 2010, Audiovox Corp. (VOXX) reported net income of $2.8 million or earnings per share of 12 cents, compared to a net loss of $2.3 million or a loss per share of 10 cents in the corresponding prior-year period. This exceeded the Zacks Consensus Estimate of 2 cents per share. Net sales for the quarter were $124.9 million, compared to net sales of $147.2 million in the prior-year period, a decrease of 15.2%. Accessories sales were $45.9 million, an increase of 29% compared to $35.5 million in the same quarter, a year ago. This increase is primarily due to the addition of new customers and higher sales of antennas as a result of the switch from analog to digital TV, remote controls and other accessory lines under Terk, Acoustic Research and RCA. Electronics sales, which include both mobile and consumer ...

[Editor's Note: As someone who is primarily a believer in fundamental analysis, I must say this article, and this author, really seem to have struck a chord for rationale of technical analysis].

October 5, 2009

By Elliott Wave International

As the major stock markets turned down in late 2007 and then started to rally in March 2009, many people who believed in fundamental analysis have begun to question its validity.

Famed technical analyst and Elliott wave expert Robert Prechter has long called for the bear market we are now in the midst of. (He views the rally of 2009 to be a bear-market rally not the beginning of a new bull market.) But over the years, his methods of technical analysis have been criticized. Here are his most succinct arguments as to why wave analysis outdoes competing forms of analysis….

ICP Solar Technologies Inc., a developer and marketer of innovative, proprietary solar panels and products, announced that it anticipates introducing its line of iSun(R)-branded portable solar chargers before the end of next month.

The chargers, which are being targeted to road warriors and urban explorers who are always “on the go,” have been designed to easily power most cell phones and PDAs while retaining scalability, modularity, pocketablity, and attractiveness. According to the press release, they will be sold through distributors worldwide as well as over the company’s website.

“We are excited to finally bring to market these fresh, cutting-edge solar chargers designed specifically for today’s huge portable communication market,” said Sass Peress, Chairman and CEO. “Our iSun(R) products — offered in sleek, user-friendly applications that are as attractive as they are practical — represent the next generation of innovation at ICP Solar and are designed for the billions of cell

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Energizer Holdings (ENR) reported strong results for the third quarter with operating earnings (excluding one-time charges) of $1.13 per diluted share. Earnings were $0.09 above expectations.

Total sales declined 6.5% year over year to $998 million, primarily due to sales declines in Household Products and the unfavorable impact of foreign exchange. Net sales in the Household Products category fell 13.0%, attributable to a reduction in Energizer Max premium alkaline batteries and low margin non-Energizer branded products volume. Net sales in the Personal Care segment were flat year over year as increases in wet shave, infant care and feminine care were offset by lower sales of Gentle Glide.

Interest expense declined $9.3 million for the quarter due to lower average interest costs on variable debt and lower average borrowings.

The battery category has been experiencing declines recently. Therefore, the company's Board of Directors approved a restructuring plan designed to

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• Corning (NYSE:GLW) reported second quarter earnings of 39 cents a share that beat estimates by 7 cents a share, on in-line revenues of $1.4 billion, down 17.6%

• Honeywell (NYSE:HON) reported in-line second quarter earnings of 60 cents a share, as revenues increased 22% to $7.6 billion versus estimates of $7.73 billion.  The firm cautioned "Economic conditions, however, remain challenging and we are not planning for any recovery in 2009." It expects second quarter earnings of $2.85 a share, up from the consensus estimates of $2.82

• Verizon (NYSE:VZ) reported in-line quarterly numbers at 63 cents a share, on revenues of $26.9 billion versus projections of $26.85 billion

• Tellabs (NASDAQ:TLAB) posted second quarter at 7 cents, 1 penny above estimates, as revenues fell 11% to $385 million

• Aetna (NYSE:AET) disappointed with its second quarter posting of 68 cents, a dime under expectations, as revenues increased 10.3% to $8.7 billion, versus estimates

...

Energizer Holdings (ENR), which ranks second after Procter & Gamble (PG) in men's shave products, in June acquired the Edge and Skintimate shave preparation business from Johnson & Johnson (JNJ) for an aggregate purchase price of $275 million. Through the acquisition, ENR will be adding shaving creams and gels to its Schick-Wilkinson Sword razor business.P&G is leader in the U.S. market for men's pre-shave products such as creams and gels, with a 39.2% share, followed by Edge with a 21.5% market share, according to Euromonitor International. In women's pre-shave products, Skintimate leads the market with a 65.7% share, followed by a 25.6% share of Gillette Satin Care, according to Euromonitor. Therefore, we believe the acquisition to be a strategic fit to the existing portfolio of ENR, enabling ENR to compete better with P&G.The global shaving products ...

ICP Solar Technologies Inc., a developer, manufacturer and marketer of proprietary solar panels and products, announced this morning the signing of a global licensing agreement with Energizer (NYSE: ENR). As terms of the agreement, Energizer will give ICP Solar the global rights to its trade name for solar-powered chargers and related products. The 3-year agreement has already taken effect.

“Teaming with Energizer is a very significant achievement for ICP Solar and speaks to both the high quality of our products as well as our reputation for technology innovation,” said Sass Peress, CEO. “Energizer is a leader in providing portable power for numerous applications worldwide, and we are proud to be working with such an esteemed organization going forward.”

He continued, “We will begin rolling out products in North America as soon as the third quarter and anticipate these sales will further bolster our financial performance heading into 2010. We plan to

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MONTREAL, QUEBEC, CANADA - July 2, 2009 - ICP Solar Technologies Inc. (OTCBB: ICPR.OB, FRANKFURT: K1U.F), a developer, manufacturer and marketer of proprietary solar panels and products, today announced that it has signed a global licensing agreement with Energizer (NYSE: ENR).

Energizer Holdings Inc. (ENR) announced first-quarter earnings of $1.12 per share, excluding items, which beat the consensus estimate of by 4 cents.

The stock has declined almost 4% today accompanied by volume of almost 670,000, compared to the average volume of 627,000.

The maker of batteries was hurt by weak consumer spending amid this recession, which caused revenues to decline 7% year over year to $880.4 million.

The fiscal 2009 earnings consensus is down 2 cents over the past 30 days to $5.47, as 2 out of 11 analysts lowered expectations.

ENR is a Zacks #3 Rank ("Hold") company.

"ENR" Free Stock Analysis: Buy? Sell? Hold?Zacks Investment Research