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DAILY EARNINGS

Barracuda, Schulman Net Surge; Acuity Brands Net Declines


Author: Mukesh Buch
ticker.com
Last Update: 11:51 AM EST January 09 2018

11:45 PM New York Acuity Brands first-quarter net declined 13% to $72 million. Barracuda Networks third-quarter net surged to $8 million. Schulman first-quarter net soared to $13 million. Simply Good Foods first-quarter net jumped 12% to $10 million. Schnitzer Steel Industries first-quarter net swung to profit $18 million.

Tollbooth Index slid 11.70 to 14,289.99.

Earnings Review

Acuity Brands, Inc (AYI), the lighting solutions provider reported net sales in the first-quarter ending in November fell 1% from a year ago to $842.8 million.

Net income in the quarter declined 12.5% to $71.5 million or $1.70 per diluted share from $81.7 million or $1.86 in the same quarter last year.

The lighting fixtures provider said operating profit in the quarter dropped 6.3% to $118.6 million from a year ago period.

Barracuda Networks Inc (CUDA), the security and data protection solutions provider said total revenue in the third-quarter ending in November jumped 7% from a year ago to $94.7 million.

Net income in the quarter surged to $7.8 million or 14 cents per diluted share from $1.8 million or 3 cents in the same quarter last year.

Barracuda said subscription revenue soared 13% to $77.3 million while appliance revenue was $17.5 million declined 14.6% to $17.5 million.

Limoneira Company (LMNR), the agribusiness and real estate developer said revenue in the year ending in October soared 9% from a year ago to $121.3 million.

Net income in the year plunged 18.9% to $6 million or 42 cents per diluted share from $7.4 million or 52 cents in the same quarter last year.

A Schulman Inc (SHLM), the plastic formulation, resins supplier reported net sales in the first-quarter ending in November surged 12.4% from a year ago to $674.6 million.

Net income in the quarter soared to $12.8 million or 43 cents per diluted share from $1.1 million or 4 cents in the same quarter last year.

The Simply Good Foods Co (SMPL), the branded nutritional foods and snacking products provider said net sales in the first-quarter ending on November 25 increased 6.8% from a year ago to $106.6 million.

Net income in the quarter jumped 11.7% to $10.2 million or 14 cents per diluted share from $6.8 million in the same quarter last year.

Schnitzer Steel Industries, Inc (SCHN), the scrap metal recycler reported revenues in the first-quarter ending in November jumped 45% from a year ago to $483 million.

Net in the quarter swung to profit $18 million or 64 cents per diluted share from a loss of $1 million or 5 cents in the same quarter last year.

Target Corporation (TGT), the discount stores operator lifted fourth-quarter same store sales forecast to about 3.4% from the earlier estimate of zero percentage to 2% and same-store sales growth of 1%.

The retailer also lifted fourth-quarter diluted earnings per share forecast between $1.30 and $1.40 from the earlier estimate of $1.05 and $1.25.

In fiscal 2017, Target lifted diluted earnings per share forecast in the range of $4.64 and $4.74 from the earlier estimate of $4.40 and $4.60 and online sales to increase 25%.

The discount stores operator estimated fiscal 2018 diluted earnings per share between $5.15 and $5.45.
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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