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DAILY EARNINGS

Analog Devices, Dollar Tree Net Jump; Movado, Tech Data Net Drop


Author: Mukesh Buch
ticker.com
Last Update: 7:07 AM ET November 22 2016

12:00 PM New York Analog Devices fourth-quarter net surged 208% to $296 million. Burlington Stores third-quarter net surged 114% to $32 million. Dollar Tree third-quarter net jumped 110% to $172 million. DSW third-quarter net fell 1% to $39 million. Tech Data third-quarter net plummeted 13% to $37 million.

Tollbooth Index gained 33.69 or 0.3% to 11,098.34.

Earnings Review

Analog Devices, Inc (ADI), the integrated circuit maker reported sales in the fourth-quarter ending on October 29 rose 3% from a year ago to $1 billion.

Net income in the quarter surged 208% to $296.2 million or 95 cents per diluted share compared to the $96.3 million or 30 cents per share from the same quarter last year.

The chip maker forecasted revenues in the fiscal first-quarter in the range of $840 million to $900 million and non-GAAP gross margin between 65.5% and 66.0% and non-GAAP diluted earnings per share in the range of 68 cents to 78 cents.

Barnes & Noble, Inc (BKS), the bookseller said total sales in the in the second-quarter ending on October 29 dropped 4% from a year ago to $858.5 million.

Comparable store sales in the quarter slumped 3.2%.

Net loss in the quarter narrowed to $20.4 million or 29 cents per diluted share compared to the $39.2 million or 52 cents per share from the same quarter last year.

Barnes & Noble estimated comparable store sales in fiscal 2017 to decline in the low single digits and operating profit in the range of $200 million to $250 million but retail store operating profit between $240 million and $280 million.

Burlington Stores Inc (BURL), the discount stores operator reported net sales in the third-quarter ending on October 29 advanced 9.1% from a year ago to $1.3 billion.

Comparable store sales in the quarter jumped 3.7%.

Net income in the quarter surged 114% to $32.4 million or 45 cents per diluted share compared to the $41.9 million from the same quarter last year.

Chico''''s FAS, Inc (CHS), the specialty retailer stated net sales in the third-quarter ending on October 29 declined 7.5% from a year ago to $596.9 million.

Comparable store sales in the quarter dropped 4.9%.

Net in the quarter swung to profit $23.6 million or 18 cents per diluted share compared to the loss of $11.6 million or 9 cents per share from the same quarter last year.

Dollar Tree, Inc (DLTR), the discount variety retailer reported net sales in the third-quarter ending on October 29 rose 1.1% from a year ago to $5 billion.

Comparable store sales in the quarter increased 1.7%.

Net income in the quarter vaulted 109.5% to $171.6 million or 72 cents per diluted share compared to the $81.9 million or 35 cents per share from the same quarter last year.

Dollar Tree forecasted net sales in the fourth-quarter between $5.59 billion and $5.69 billion, based on low single-digit increases in same-store sales for the Dollar Tree and Family Dollar segments.

The discount retailer lifted diluted earnings per share forecast in the fourth-quarter in the range of $1.24 to $1.33 from prior guidance of $1.21 to $1.30.

DSW Inc (DSW), the footwear retailer said sales in the third-quarter ending on October 29 increased 4.7% from a year ago to $697 million.

Comparable store sales in the quarter decreased 2%.

Net income in the quarter fell 0.8% to $38.9 million or 47 cents per diluted share compared to the $39.3 million or 44 cents per share from the same quarter last year.

Movado Group, Inc (MOV), the watches maker said net sales in the third-quarter ending in October slipped 3.1% from a year ago to $179.8 million.

Net income in the quarter declined 6% to $20.2 million or 87 cents per diluted share compared to the $21.5 million or 92 cents per share from the same quarter last year.

Tech Data Corp (TECD), the technology products wholesale distributor stated net sales in the third-quarter ending in October rose 1% from a year ago to $6.5 billion.

Net income in the quarter plummeted 13% to $36.5 million or $1.03 per diluted share compared to the $41.9 million or $1.18 per share 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