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DAILY EARNINGS

BlackBerry, Darden Restaurants Net Jump; IHS Net Drops


Author: Mukesh Buch
ticker.com
Last Update: 12:40 PM ET June 23 2015

12:30 AM New York BlackBerry first-quarter net soared 196% to $68 million. Darden Restaurants fourth-quarter net surged 80% to $130 million. IHS first-quarter net dropped 8% to $51 million. Park Electrochemical first-quarter net plummeted 42% to $5 million. Sonic third-quarter net soared 15% to $20 million.

Tollbooth Index edged up 2.30 to 10,861.96.

Earnings Review

BlackBerry Ltd (BBRY), the Canada-based mobile devices maker said revenues in the first-quarter ending in May plunged 31.9% to $658 million from a year ago period.

Net income in the quarter soared 195.7% to $68 million compared to $23 million and diluted loss per share narrowed to 10 cents from 37 cents from the same quarter last year.

The company said software and technology licensing revenue surged 150% to $137 million while hardware revenue declined 30.6% to $263 million and service revenue tumbled 51.4% to $252 million from a year ago period.

BlackBerry added smart-phone revenue in the quarter dropped 30.6% to $263 million as an average selling price of $240.

Darden Restaurants, Inc (DRI), the full service restaurant operator reported total sales in the fourth-quarter ending in May soared 13.9% to $1.88 billion from a year ago period.

Same-restaurant sales in the quarter jumped 3.8%.

Net income in the quarter surged 79.5% to $129.7 million or $1.01 per diluted share compared to $72.3 million or 54 cents from the same quarter last year.

The company forecasted diluted earnings per share for the year between $3.05 and $3.20 and same-restaurant sales in the range of 2% to 2.5%.

Separately the company plans to separate a portion of its real estate assets to a new real estate investment trust and transfer about 430 owned restaurants.

The company expects to complete the REIT transaction by the end of this year.

IHS Inc (IHS), the analytical information provider reported revenues in the first-quarter ending in May jumped 4.1% to $591.4 million from a year ago period.

Net income in the quarter dropped 8.3% to $50.9 million or 74 cents per diluted share compared to $55.5 million or 81 cents from the same quarter last year.

Park Electrochemical Corp (PKE), the integrated circuits maker stated net sales in the first-quarter ending in May declined 22.5% to $37.8 million form a year ago period.

Net income in the quarter plummeted 41.5% to $4.8 million or 23 cents a diluted share compared to $8.2 million or 39 cents from the same quarter last year.

Sonic Corporation (SONC), the drive-in fast food restaurant operator said net sales in the third-quarter ending in May jumped 8.2% to $164.7 million from a year ago period.

System-wide same-store sales in the quarter increased 6.1% and increased 5.5% at company owned drive-ins.

Net income in the quarter soared 15% to $20.4 million or 38 cents per diluted share compared to $16.8 million or 30 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