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DAILY EARNINGS

Adobe, KB Home Net Jump; FedEx Net Loss Narrows


Author: Mukesh Buch
ticker.com
Last Update: 12:45 PM ET June 22 2016

12:00 PM New York Actuant third-quarter net plunged 44% to $21 million. Adobe second-quarter net surged 66% to $244 million. FedEx fourth-quarter net loss narrowed to $70 million. KB Home second-quarter net soared 63% to $16 million. SiteOne Landscape first-quarter net loss narrowed to $6 million.

Tollbooth Index gained 44.14 or 0.4% to 10,579.50.

Earnings Review

Actuant Corporation (ATU), the industrial products maker reported sales in the third-quarter ending in May slumped 5% from a year ago to $305.3 million.

Net income in the quarter plunged 44.2% to $21.2 million or 36 cents per diluted share compared to $37.9 million or 63 cents per share from the same quarter last year.

Actuant forecasted net sales in the fourth-quarter in the range of $270 million to $280 million and earnings per share between 28 cents and 33 cents.

In the year, the company estimated sales of about $1.15 billion and earnings per share in the range of $1.20 to $1.25.

Adobe Systems Inc (ADBE), the application software company stated revenues in the second-quarter ending on June 3 soared 20% from a year ago to $1.40 billion.

Net income in the quarter surged 65.5% to $244.1 million or 48 cents per diluted share compared to $147.5 million or 29 cents per share from the same quarter last year.

FedEx Corporation (FDX), the air freight and logistics company reported revenues in the fourth-quarter ending in May jumped 7.4% from a year ago to $13 billion.

Net loss in the quarter narrowed to $70 million or 26 cents per diluted share compared to $895 million or $3.16 per share from the same quarter last year.

KB Home (KBH), the home-builder stated revenues in the second-quarter ending in May surged 30% from a year ago to $811.1 million.

Net income in the quarter soared 63% to $15.6 million or 17 cents per diluted share compared to $9.6 million or 10 cents per share from the same quarter last year.

SiteOne Landscape Supply Inc (SITE), the wholesale distributor said net sales in the first-quarter ending on April 3 surged 43% from a year ago to $328.5 million.

Net loss in the quarter narrowed to $5.6 million or 85 cents per diluted share compared to $9.8 million or $1.23 per share from the same quarter last year.

The company forecasted operating profit in the year in the range of $132 million to $140 million.
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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