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DAILY EARNINGS

Adobe Net Climbs, FedEx Net Swings to Loss


Author: Mukesh Buch
ticker.com
Last Update: 11:27 AM ET June 17 2015

12:30 AM New York Actuant third-quarter net tumbled 25% to $38 million. Adobe second-quarter net soared 67% to $148 million. Bob Evans fourth-quarter net plunged 57% to $6 million. FedEx fourth-quarter net swung to a loss of $895 million. La-Z-Boy fourth-quarter net soared 66% to $20 million.

Tollbooth Index gained 0.3% or 34.18 to 10,750.44.

Earnings Review

Actuant Corporation (ATU), the industrial products maker said total sales in the third-quarter ending in May plunged 15% to $320.10 million from a year ago period.

Net income in the quarter tumbled 24.9% to $38 million or 63 cents per diluted share compared to $50.6 million or 70 cents from the same quarter last year.

The company forecasted revenues for the fourth-quarter between $290 million and $300 million and diluted earnings per share in a range of 26 cents to 31 cents.

For the year, the company lowered its revenue forecast in the range of $1.24 billion to $1.25 billion from earlier guidance between $1.25 billion and $1.27 billion and diluted earnings per share in a range of $1.55 to $1.60.

Adobe Systems Inc (ADBE), the software company reported total revenues in the second-quarter ending on May 29 climbed 8.4% to $1.17 billion from a year ago period.

Net income in the quarter soared 66.7% to $147.5 million or 29 cents per diluted share compared to $88.5 million or 17 cents from the same quarter last year.

Bob Evans Farms Inc (BOBE), the full-service restaurant operator said net sales in the fourth-quarter ending on April 24 increased 1.8% to $332.4 million from a year ago period.

Same store sales in the quarter jumped 2.1%.

Net income in the quarter plunged 56.9% to $5.6 million or 24 cents per diluted share compared to $13 million or 40 cents 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 2.5% to $12.1 billion from a year ago period.

Net in the quarter swung to a loss of $895 million or $3.16 per diluted share compared to profit of $780 million or $2.62 from the same quarter last year.

The company said revenues in FedEx express segment dropped 4% to $6.70 billion while revenues in FedEx ground business climbed 19% to $3.57 billion from a year ago period.

Revenues for FedEx freight segment rose 1% to $1.6 billion and services revenues increased 1% to $407 million compared to same period a year ago.

La-Z-Boy Inc (LZB), the furniture products maker said sales in the fourth-quarter ending on April 25 climbed 6.2% to $374.9 million from a year ago period.

Net income in the quarter soared 65.6% to $20.2 million or 39 cents per diluted share compared to $12.2 million or 23 cents from the same quarter last year.
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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