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DAILY EARNINGS

Adobe, FedEx Net Surge, La-Z-Boy Net Drops


Author: Mukesh Buch
ticker.com
Last Update: 12:58 PM ET June 18 2014

10:45 AM New York Actuant third-quarter net swung to profit $51 million. Adobe second-quarter net soared 16% to $89 million. FedEx fourth-quarter net surged 141% to $730 million. JTH Holding fourth-quarter net climbed 14% to $30 million. La-Z-Boy fourth-quarter net declined 74% to $12 million.

Earnings Review

Actuant Corporation (ATU), the diversified company said total sales in the third-quarter ending in March climbed 10% to $378 million.

Net in the quarter swung to profit $50.6 million or 70 cents a diluted share compared to a loss of $93 million or $1.24.

On June 16, the company completed the sale of its recreational vehicle business having annual revenues of about $30 million to Drew Industries Inc.

Adobe Systems Inc (ADBE), the diversified software company reported total revenue in the second-quarter ending in May advanced 5.9% to $1.07 billion.

Net income in the quarter soared 15.7% to $88.5 million or 17 cents a diluted share compared to $76.5 million or 15 cents.

FedEx Corporation (FDX), the air-freight and logistic company reported revenue in the fourth-quarter ending in May rose 3.5% to $11.8 billion.

Net income in the quarter surged 140.9% to $730 million or $2.46 a diluted share compared to $303 million or 95 cents.

The company forecasted diluted earnings per share for the fiscal 2015 between $8.50 and $9 and capital spending to increase to about $4.2 billion.

JTH Holding Inc (TAX), the accounting services provider said total revenue in the fourth-quarter ending in April jumped 10.9% to $103.6 million.

Net income in the quarter climbed 14% to $30.05 million or $2.18 a diluted share compared to $26.39 million or $2.01.

La-Z-Boy Inc (LZB), the furniture products maker stated sales in the fourth-quarter ending on April 26increased 2.1% to $353 million.

Net income in the quarter declined 73.8% to $12.2 million or 23 cents a diluted share compared to $18.3 million or 33 cents.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc