Jefferies puts SFBC at buy

SFBC International, Inc. was given a buy rating by Jefferies & Co., Inc. analyst David Windley. The company reported GAAP earnings per share of ($0.23), with non-GAAP of $0.13. Jefferies estimated non-GAAP earnings per share of $0.30. SFBC had total revenue for the first quarter of $80.1 million, higher than the analyst's estimate of $78.9 million. Management lowered its 2006 guidance to $0.73-$0.85 (non-GAAP), from $1.44-$1.58. Shares of the Princeton, N.J., drug development services company were down $6.43 or 27.07%, at $17.32 on volume of 6,179,559 shares versus the three-month running average of 906,700 shares. (Nasdaq: SFCC)

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