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DAILY EARNINGS

ConAgra, IHS Net Soar; Cato, Scholastic Net Fall


Author: Mukesh Buch
ticker.com
Last Update: 11:52 AM ET March 20 2014

10:45 AM New York Cato fourth-quarter net plunged 23% to $4 million. ConAgra third-quarter net surged 95% to $234 million. IHS first-quarter net climbed 31% to $32 million. Lennar first-quarter net jumped 36% to $78 million. Scholastic third-quarter net tumbled 40% to $12 million.

Earnings Review

The Cato Corporation (CATO), the specialty retailer said sales in the fourth-quarter ending on February 1 dropped 7% to $215.2 million. Same store sales in the quarter fell 3%.

Net income in the quarter plunged 22.7% to $3.8 million or 13 cents a diluted share compared to $7.9 million or 27 cents.

For fiscal 2014, the retailer estimated same-store sales in a range of down 2% to flat and net income between $43.1 million and $48.5 million, a decrease of 21% to 11% from 2013.

The company estimates diluted earnings per share in a range of $1.47 to $1.66, a decrease of 21% to 11% compared to $1.86 of 2013.

The Cato forecast net income in the first quarter in a range of $26 million to $27.7 million, or 89 cents to 95 cents per diluted share, a decrease of 15% to 10% compared to $1.05 in first quarter 2013.

ConAgra Foods Inc (CAG), the packaged food company reported total sales in the third-quarter ending on February 23 climbed 14.5% to $4.39 billion.

Net income in the quarter surged 95.2% to $234.3 million or 55 cents a diluted share compared to $120 million or 29 cents.

IHS Inc (IHS), the professional information services provider stated revenue in the first-quarter ending in February surged 37% to $524 million.

Net income in the quarter climbed 31% to $32.4 million or 47 cents a diluted share compared to $24.7 million or 37 cents.

Lennar Corporation (LEN), the homebuilder said revenue in the first-quarter ending in February soared 33% to $1.36 billion.

Net earnings in the quarter jumped 35.8% to $78.1 million or 35 cents a diluted share compared to $57.5 million or 26 cents.

Scholastic Corp (SCHL), the educational books publisher stated revenue in the third-quarter ending in February slid 1.3% to $373.5 million.

Net income in the quarter tumbled 39.8% to $12.1 million or 38 cents a diluted share compared to $20.1 million or 63 cents.
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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