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DAILY EARNINGS

ConAgra Net Swings to Profit, Apollo Education Net Declines


Author: Mukesh Buch
ticker.com
Last Update: 12:38 PM ET June 30 2015

12:30 AM New York Apollo Education third-quarter net plummeted 27% to $48 million. ConAgra fourth-quarter net swung to profit $209 million. OMNOVA Solutions second-quarter net soared 15% to $4 million.

Tollbooth Index gained 0.3% or 28.81 to 10,609.86.

Earnings Review

Apollo Education Group Inc (APOL), the private education services provider said net revenues in the third-quarter ending in May declined 14.1% to $681.5 million from a year ago period.

Net income in the quarter plummeted 27.1% to $48.1 million or 44 cents per diluted share compared to $66 million or 59 cents from the same quarter last year.

The company lowered its revenue forecast for the fiscal 2015 in the range of $2.60 billion to $2.62 billion from earlier estimate between $2.63 billion and $2.68 billion.

ConAgra Foods Inc (CAG), the packaged food maker reported net sales in the fourth-quarter ending in May jumped 3.7% to $4.10 billion from a year ago period.

Net in the quarter swung to profit $209.2 million or 48 cents per diluted share compared to a loss of $324.2 million or 77 cents from the same quarter last year.

The company said sales in consumer foods in the quarter jumped 4.5% to $1.86 billion and revenues in commercial foods segment climbed 6.6% to $1.23 billion while revenues in private brands business fell 1% to $1.02 billion from a year ago period.

OMNOVA Solutions Inc (OMN), the emulsion polymers provider said net sales in the second-quarter ending in May plunged 17.3% to $220.2 million from a year ago period.

Net income in the quarter soared 14.7% to $3.9 million or 9 cents per diluted share compared to $3.4 million or 7 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