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Source: seekingalpha.com --- 6 days ago
John C. Lee submits: On Thursday August 28, before the market open, Del Monte Foods Co. (DLM) reported a Q1 loss of $0.05 per share ($0.04 from continuing operations) or $10.1 million on $726.2 million in revenue vs. Earnings of $0.02 or $3.5 million on $626.8 million in revenue a year ago (see conference call transcript ). Revenue increased by 15.9% due to price hikes, volume growth, and new products. Discontinued operations added a $0.01 per share loss to the results. Analysts were expecting a loss of $0.03 per share, missing expectations by $0.01 per share. The stock gapped up and opened at $8.98, sold off throughout the day, and closed at $8.60 on 1.83 million shares, up $0.01 from Wednesday’s close of $8.59. DLM’s Consumer Products division increased sales 20.6% to $383.5 million vs. $317.9 million a year ago. Price hikes and volume growth contributed to the increase; however, the division’s operating income was flat at $9.8 million due to higher costs. The company’s general and administrative (G&A) expenses increased due to “centralization” of marketing and other functions. Headquartered in San Francisco, CA, DLM built a new plant in Pittsburg in 2006, but moved over 100 employees to its headquarters this year. Whether it was necessary or not, if DLM did not move the employees, G&A expenses would not be at $146.1 million, up from $132.8 million a year ago. Complete Story » ... Source: www.streetinsider.com --- 6 days ago
Visit StreetInsider.com at http://www.streetinsider.com/Guidance/Omnivision+Technologies+%28OVTI%29+Reports+Mixed+Q1+Earnings%3B+Guides+Q2+Below+the+Street/3949268.html for the full story. ... Source: www.streetinsider.com --- 1 day ago
Visit StreetInsider.com at http://www.streetinsider.com/Earnings/Casella+Waste+Systems+%28CWST%29+Reports+Higher+Q1+Earnings/3960810.html for the full story. ... Source: www.streetinsider.com --- 1 day ago
Visit StreetInsider.com at http://www.streetinsider.com/Earnings/Culp+%28CFI%29+Reports+Mixed+Q1+Earnings%3B+Guides+Q2/3960799.html for the full story. ... Source: www.streetinsider.com --- 9 days ago
Visit StreetInsider.com at http://www.streetinsider.com/Earnings/Kewaunee+Scientific+%28KEQU%29+Reports+Q1+Earnings/3943395.html for the full story. ... Source: www.topix.com --- 7 days ago
Gerber Scientific, Inc. Q1 2009 Earnings Call August 28, 2008 10:00 am ET Executives Marc T. Giles - President and Chief Executive Officer Michael R. Elia - Executive Vice President and Chief Financial Officer ... ... Source: www.alacrastore.com --- 2 days ago
...Good day and welcome to the Ashtead first quarter results conference call. Today's conference is being recorded. At this time we have Geoff Drabble, CEO, and Ian Robson, Finance Director, on the conference today. I would like to turn the conference over to Geoff Drabble. Please go ahead, sir. ... ... Source: www.marketwatch.com --- 9 days ago
WASHINGTON (MarketWatch) -- Banks had the second worst Earnings in the since 1991, the Federal Deposit Insurance Corporation said Tuesday. Earnings for the quarter totaled just $5.0 billion compared to $36.8 billion a year ago, a decline of 86.5%, the FDIC said in its second-quarter banking profile. Higher loss provisions were the main reason for the drop. "The results are pretty dismal," said FDIC chairman Sheila Bair at a press conference. The FDIC's "problem list" grew to 117 financial institutions from 90 at the end of the first quarter. Total assets of problem institutions increased to $78 billion from $26 billion at the end of Q1. Bair said the FDIC will move to replenish the deposit insurance fund in early October. Banks will likely have to pay an increased premium into the fund, she said. ... Source: network.nationalpost.com --- 1 day ago
Garda World Security Corp. is on the upswing, says Desjardins Securities Martin Landry. In a report to clients this week, Mr. Landry said Garda is in the middle of an Earnings recovery, and its current valuation "does not reflect the ongoing turnaround in Earnings." With the stock trading at around $12, it "presents investors with a good entry point.” Desjardins has a target price of $20 per share on the stock, using a 7x multiple applied to Mr. Landry's 2010 EBITDA forecast. When the company releases its second quarter results on Sept. 15, Mr. Landry expects Earnings per share of 18¢, a big jump from the adjusted loss of 1¢ per share for the same period in 2007. The positive EPS can be attributed to a tax-friendly “double-dip structure” that means the company will likely pay little to no income tax for the quarter. However, as its cash logistics segment passes the US$35-million annual tax shelter threshold, Garda will likely start incurring income tax expenses, Mr. Landry said. As well, there are several other factors that Mr. Landry is keeping an eye on ahead of Garda's results. Of key concern is whether Garda will meet its EBITDA targets of $33-million to $34-million for the quarter and $155-million for the year. Another lingering problem is a fuel surcharge that the company forgot to pass on to its clients, costing Garda $2-millon in Q1. The company predicts a further $1-million hit to their coffers in Q2, but Landry would not be s ...
Source: seekingalpha.com --- 3 days ago
John C. Lee submits: On Tuesday August 26, before the market open, Corinthian Colleges Inc. (COCO) reported a Q4 loss (see conference call transcript ) of $0.01 per share or $620,000 on $274 million in revenue vs. a loss of $0.10 per share or $8.756 million on $231.62 million in revenue a year ago. Excluding charges, COCO would have earned a profit of $0.11 per share. For the full fiscal 2008 year, COCO earned $0.25 per share or $21.3 million on $1.07 billion in revenue. Shares gapped down opening at $15.58 and sold off throughout the day to close at $13.09, down 19.3% on 11.16 million shares COCO expects Q1 2009 Earnings of $0.06 - $0.08 on revenue of $285 million - $290 million. Analysts expect Earnings in the high range of $0.8 and below the company’s forecast at $283.3 million. For the full fiscal 2009 year, COCO expects Earnings of $0.58 - $0.63 per share on $1.21 billion - $1.25 billion in revenue. Analysts expect Earnings below the company’s guidance at $0.55 on $1.22 billion in revenue. Complete Story » ...
Source: seekingalpha.com --- 1 day ago
John C. Lee submits: Yesterday, September 3 after-hours, H&R Block Inc. (HRB) reported a Q1 ‘09 loss of $0.41 per share or $132.7 million on $339.6 million in revenue vs. a loss of $0.93 per share or $302.6 million on $381.2 million in revenue a year ago (see conference call transcript ). Analysts expected a loss of $0.35 per share on $378.3 - $381.2 million in revenue, missing both Earnings estimates and revenue targets. Tax Services increased 7.7% to $75.3 million vs. $69.9 million a year ago. Shares were down about 3.5% after-hours and the previous session’s close marked the highest that HRB’s stock traded at since November 23, 2005 when it hit $26.66. Shares should see some weakness in today’s morning trading. Revenue dropped 11% mostly due to the off tax season. Loss from continuing operations was $0.40 per share or $129.4 million vs. a loss of $0.34 per share a year ago, up 15%. Loss from discontinued operations was $3.4 million vs. a loss of $192.8 million a year ago due to ending operations in the subprime market. Income was offset by $20.4 million in loss reserves and write-downs at H&R Bank. The effects of the subprime crisis can still be seen as H&R Bank reported a loss of $14.1 million vs. Earnings of $4.8 million a year ago. Complete Story » ...
Source: www.paidcontent.org --- 9 days ago
One of the more unexpected M&A deals closed today, as United Online ( NSDQ: UNTD ) completed the acquisition of floral company FTD for $754 million in cash and stock. The deal, which gives FTD shareholders 15 percent of the combined company, was originally valued around $800 million . The company says the combined company has trailing twelve month revenue of $1.14 billion, and op income of $169.1 million. Release . The deal's closing comes one day after FTD reported Q4 Earnings: Revenue was up 3 percent to $174.9 million. Excluding a gain in the last quarter, net income was basically flat, $12.6 million vs. $12.5 million. Release . United Online, meanwhile, continues to ride the surprising growth of its Classmates.com unit . Although the company failed to spin it off, company recently announced that the social division would be moving from Renton, WA to fresh digs on Seattle's waterfront . Related United Online To Acquire Floral Company FTD For $800 Million; Guides Up For Q1 Check out the best business jobs in digital media. Go here for paidContent.org Job Board. ...
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Sramana Mitra submits: Dell (DELL) and rival HP (HPQ) continue to jockey over market share. As per the market intelligence firm IDC , Dell increased its market share from 15.5% last quarter to 16.4% versus HP’s 18.9%. It has grown 21.4% y-o-y compared with the industry growth rate of 15.3%. However, this growth has apparently come at the cost of profit: on Thursday, Dell reported a 17% drop in Q2 profit to $616 million or $0.31 per share. It also missed Earnings estimates. However, the company did beat the analyst revenue estimate of $15.9 billion, with Q2 revenue up 11% to $16.4 billion driven by a 19% increase in worldwide product shipments. EPS excluding charges was $0.33, missing the analyst estimate of $0.36. Earnings beat analyst estimates last quarter . Shares plunged, as the miss was not taken well by the market. Gross margin was 17.2% versus 19.9% last year; margin was adversely affected by price cuts ahead of cost improvements in EMEA. Operating expenses were 12.2% of revenue, 1.6 percentage points and the lowest in six quarters. Dell reduced its headcount by 1,500 in the quarter and by 8,500 from Q1 last year. It plans to reach its goal of 8,900 layoffs by next quarter. Complete Story » ...
Hickey and Walters ( Bespoke ) submit: Year over year Earnings for the S&P 500 declined by a little more than 23% in Q2 '08 versus Q2 '07. Expectations at the start of Earnings season based on cumulative analyst estimates were -11%, so actual numbers were more than twice as bad. This brings us to Earnings expectations for the next few quarters. Currently, bottoms up estimates are looking for S&P 500 Earnings to decline by 0.2% from Q3 '07 to Q3 '08. Q4 '08 estimates are looking for growth of 43.6%, and Q1 '09 estimates are at 28.1%. These high numbers are due to the extremely weak readings we got in Q4 '07 and Q1 of this year. Only time will tell if these estimates are too lofty, but based on the last few quarters, they most likely are. Complete Story » ...
Davy Bui submits: A brief rundown of American Capital's (ACAS) Q2 Earnings report (all figures US$ unless noted): After last quarter’s negative cash figure (-$10M OCF), Q2 saw several encouraging developments on the cash flow statement. ACAS is once again cash flow positive, generating $141M OCF during the 1st 6 months. This is a 26% decline from last year but with the difficult environment we’re facing, that might be expected. Another possible positive sign is the decline in accrued PIK income in Q2 2008, down to 25% of net operating income — compare that to the 6 month ratio of 32% of NOI. However, collection of PIK income was markedly lower for the quarter and basically flat for the 6 months. So it is unclear to me whether this new trend is a result of better company performance, stronger collection of accrued PIK or possible restructuring in some portfolio companies. Parsing through the 10Q, I saw a handful of companies that seemed to have restructured their capital base and possibly, that could have led to the numbers we’re seeing. The company’s balance sheet held up better this quarter than in Q1. Net asset value [NAV] was marked down $264M, mainly due to devaluation in their private equity portfolio as comp multiples compress and lower cash flows. The debt-equity ratio is hovering around 0.8, leaving roughly $1.1B in debt capital available to the company. The company listed $455M of investments at face value as currently no ...
Amit Chokshi submits: Priceline.com ("PCLN" or the "Company") reported Earnings in early August, exceeding Street estimates and raising guidance for the year. On the surface, those results would usually lead to a strong rally in the stock, but PCLN shares instead fell by over 10% after Earnings. Even with the stock under $100 and over 30% off its peak, shares in PCLN may still be overvalued given the headwinds currently facing the Company. Smaller "Beat" Rates: PCLN has benefited from good execution by management and management's ability to outperform not only its own expectations, but Street expectations as well. However, the Company's Q2 beat was its smallest in six quarters, beating Street estimates by just 9.9%. With the exception of the Company's Q1 08, the trend in terms of the size of the EPS beat has been declining over the past several quarters. PCLN has been a classic "beat and raise" story for the past few years, but the level of both the "beat and raise" is decreasing. As PCLN's Earnings growth decelerates, PCLN's valuation multiples could experience compression, further pressuring shares. TABLE I: PCLN ACTUAL VS. CONSENSUS ESTIMATES Complete Story » ...
Filed under: Earnings reports , Estee Lauder (EL) , Revlon (REV) , Procter and Gamble (PG) , Technical Analysis , Stocks to Buy Estée Lauder Companies (NYSE: EL ) is a leading manufacturer and marketer of skin care, makeup, fragrance and hair care products. These are sold in over 140 countries under a variety of established brands, including Estée Lauder, Aramis, Clinique, Bobbi Brown, American Beauty and Grassroots. The firm also operates as a licensee for such fragrance and cosmetic names as Tommy Hilfiger, Kiton, Donna Karan, Daisy Fuentes and Mustang. Estée Lauder sells its products through department stores, specialty retailers, pharmacies and salons, as well as company-owned stores, spas and Web sites. Elizabeth Arden (NASDAQ: RDEN ), Procter & Gamble (NYSE: PG ) and Revlon (NYSE: REV ) are major competitors. The firm pleased investors earlier in the month, when it reported fiscal Q4 EPS of 61 cents and revenues of $2.01 billion. Analysts had been looking for 56 cents and $1.93 billion. The CEO noted that strategic investments have enabled the company to continue building worldwide share, as it leverages opportunities in emerging markets. Management also guided Q1 EPS to 18-25 cents (24 cent consensus), FY09 EPS to $2.57-$2.72 ($2.66 consensus) and FY09 revenues to about $8.38-$8.54 billion ($8.38B consensus). The EL share price popped on the news and then moved into a bullish "flag" consolidation pattern. Stocks frequently exit ...