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DAILY EARNINGS

Burlington Stores, H & R Block Net Loss Widen


Author: Mukesh Buch
ticker.com
Last Update: 11:38 AM ET December 09 2014

12:30 AM New York AutoZone first-quarter net jumped 9% to $238 million. Argan third-quarter net rose 4% to $12 million. Burlington Stores third-quarter net loss widened to $34 million. Conn''s third-quarter net swung to a loss but revenues surged 19%. H & R Block second-quarter net loss widened to $112 million.

Tollbooth Index fell 0.5% or 51.57 to 9,869.08.

Earnings Review

AutoZone, Inc (AZO), the auto parts retailer and distributor said net sales in the first-quarter ending on November 22 soared 8% to $2.3 billion from a year ago period. Domestic same-store sales in the quarter climbed 4.5%.

Net income in the quarter jumped 9.3% to $238.3 million or $7.27 a diluted share compared to $218.1 million or $6.29 from a same quarter last year.

Argan, Inc (AGX), the engineering construction company said revenues in the third-quarter ending in October more than doubled to $127.6 million form a year ago period.

Net income in the quarter increased 4.2% to $12.4 million or 84 cents a diluted share compared to $11.9 million or 83 cents from a same quarter last year.

Burlington Stores Inc (BURL), the discount retailer reported net sales in the third-quarter ending on November 1 advanced 8.7% to $1.17 billion from a year ago period. Comparable store sales in the quarter surged 5.2%.

Net loss in the quarter widened to $34.2 million compared to $16.9 million and adjusted diluted earnings per share increased to 16 cents from 5 cents a same quarter last year.

Conn''s, Inc (CONN), the specialty retailer stated revenues in the third-quarter ending in October surged 19% to $370.1 million form a year ago period. Same-store sales in the quarter slipped 1.0%.

Net in the quarter swung to a loss of $3.1 million or 8 cents a diluted share compared to profit of $24.4 million or 66 cents from a same quarter last year.

H & R Block Inc (HRB), the tax and banking service provider reported revenues in the second-quarter ending in October edged up 0.7% to $134.6 million form a year ago period.

Net loss in the quarter widened to $112 million or 41 cents a diluted share compared to $104.9 million or 39 cents from a same quarter last year.

Verizon Communications Inc (VZ), the wireless communication service provider forecasted stronger than expected wireless customer growth in the fourth-quarter.

Verizon estimated 9.5% current post-paid subscriber will upgrade to a new device in the fourth quarter compared to an upgrade rate of 7.4% in the same period a year ago.

The company reiterated capital spending for 2014 is estimated to be about $17 billion.
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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