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DAILY EARNINGS

AutoZone, Red Hat Net Jump; Bed Bath & Beyond Net Plunges


Author: Mukesh Buch
ticker.com
Last Update: 8:14 AM ET September 22 2016

12:00 PM New York AutoZone fourth-quarter jumped 6% to $427 million. Bed Bath & Beyond second-quarter net plunged 17% to $167 million. Herman Miller first-quarter net jumped 8% to $36 million. Red Hat second-quarter net surged 16% to $59 million. Scholastic first-quarter net loss narrowed to $40 million.

Tollbooth Index increased 85.61 or 0.8% to 11,102.08.

Earnings Review

AutoZone, Inc (AZO), the auto parts retailer and distributor said net sales in the fourth-quarter ending on August 27 advanced 3.3% from a year ago to $3.4 billion.

Same store sales in the quarter increased 1%.

Net income in the quarter jumped 6.4% to $426.8 million or $14.30 per diluted share compared to the $401.1 million or $12.75 per share from the same quarter last year.

Bed Bath & Beyond Inc (BBBY), the home furnishings retailer reported revenues in the second-quarter ending on August 27 rose 0.2% from a year ago to $3 billion.

Comparable store sales in the quarter decreased 1.2%.

Net income in the quarter plunged 17% to $167.3 million or $1.11 per diluted share compared to the $201.7 million or $1.21 per share from the same quarter last year.

The retailer forecasted diluted earnings per share in fiscal 2016 in the range of $4.50 to $5.

Herman Miller, Inc (MLHR), the office furniture maker said net sales in the first-quarter ending on September 3 advanced 5.9% from a year ago to $598.6 million.

Net income in the quarter jumped 8.4% to $36.3 million or 60 cents per diluted share compared to the $33.5 million or 56 per share from the same quarter last year.

The furniture maker forecasted revenues in the second-quarter between $580 million to $600 million and diluted earnings per share in the range of 52 cents to 56 cents.

Jabil Circuit, Inc (JBL), the electronic chip maker stated net revenues in the fourth-quarter ending in August slumped 5.3% from a year ago to $4.43 billion.

Net income in the quarter plummeted 56.5% to $38.1 million or 20 cents per diluted share compared to the $87.7 million or 45 per share from the same quarter last year

Red Hat Inc (RHT), the open source software provider reported revenues in the second-quarter ending in August soared 19% from a year ago to $600 million.

Net income in the quarter surged 15.7% to $59 million or 32 cents per diluted share compared to the $51 million or 28 cents per share from the same quarter last year.

Red Hat forecasted revenues in the third-quarter in the range of $613 million to $623 million and diluted earnings per share of about 34 cents.

In the year, the open source software provider estimated revenues between $2.42 billion and $2.44 billion and diluted earnings per share in the range of $1.35 to $1.37.

Rite Aid Corporation (RAD), the retail drugstore chain said revenues in the second-quarter ending on August 27 increased 4.8% from a year ago to $8 billion.

Same store sales in the quarter fell 2.5%, consisting of 3.6% drop in pharmacy sales and the number of prescriptions filled in same stores decreased 1.8%.
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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