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DAILY EARNINGS

Costco Net Rises 2%, H & R Block Net Loss Narrows


Author: Mukesh Buch
ticker.com
Last Update: 11:04 AM ET December 11 2013

10:45 AM New York Costco first-quarter net rose 2% to $425 million. H & R Block second-quarter net loss narrowed to $105 million. Joy Global fourth-quarter net soared 87% to $27 million. Smith & Wesson second-quarter net plunged 19.8% to $17 million.

Earnings Review

Costco Wholesale Corporation (COST), the discount stores reported net sales in the first-quarter ending on November 24 advanced 5% to $24.4 billion. Comparable store sales in the quarter increased 3%.

Net income in the quarter rose 2% to $425 million or 96 cents a diluted share compared to $416 million or 95 cents.

H & R Block, Inc. (HRB), the tax preparation provider revenues in the second-quarter ending in October fell 2% to $3 billion. Net loss in the quarter narrowed to $104.9 million or 39 cents a diluted share compared to $105.2 million or 39 cents.

Joy Global Inc (JOY), the mining equipment maker said net sales in the fourth-quarter ending on October 25 surged 26% to $1.18 billion. Net income in the quarter soared 87% to $26.8 million or 25 cents a diluted share compared to $212.6 million or $1.99.

Laboratory Corporation of America Holdings (LH), the clinical laboratory company lowered the bottom-end of its full year 2013 earnings outlook.

For the year, the company expects earnings in the range of $6.90 and $7.05 a share compared to its earlier guidance of $6.95 to $7.05 a share.

Smith & Wesson Holding Corp (SWHC), the rifles and gun maker said net sales in the second-quarter ending in October rose 2% to $139.3 million.

Net income in the quarter plunged 19.8% to $17 million or 28 cents a diluted share compared to $21.2 million or 31 cents.

The company estimated net sales for the third-quarter between $140 million and $145 million and diluted earnings per share from continuing operations in the range of 28 cents to 30 cents.

For the year, the company forecasted net sales in the range of $610 million to $620 million and diluted earnings per share from continuing operations between $1.30 and $1.35.
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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