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DAILY EARNINGS

Cummins, Sirius Net Up; Avon, Domino’s Pizza, Pfizer Net Fall


Author: Mukesh Buch
ticker.com
Last Update: 2:49 AM ET May 01 2012

10:45 AM New York – Automatic Data Processing third quarter net rose 6.7% to $452.4 million. Biogen first quarter net fell 3% to $302.6 million. Becton, Dickinson second quarter net slumped 6.7% to $291 million. Domino’s Pizza first quarter net plunged 24% to $20.7 million. Marsh & McLennan first quarter net rose 7% to $347 million.

Earnings Review

Archer-Daniels-Midland-Company (ADM), the food processing company reported third quarter net sales increased 5.4% to $21.16 billion from $20.08 billion in the same quarter last year. Net earnings in the quarter declined 31% to $399 million or 60 cents per diluted share compared to $578 million or 86 cents per share in the year ago earlier.

Avon Products, Inc. (AVP), the beauty products maker reported first quarter total revenue fell 2% to $2.57 billion from $2.63 billion in the same quarter last year. Net income in the quarter tumbled 82% to $26.5 million or 6 cents per diluted share compared to $143.6 million or 33 cents per share in the year ago period.

Automatic Data Processing, Inc. (ADP), the payroll processor reported third quarter revenues rose 6.6% to $2.92 billion from $2.74 billion in the prior year quarter. Net earnings in the quarter rose 6.7% to $452.4 million compared to net earnings of $423.8 million in the same quarter last year.

Earnings per share were 92 cents from 85 cents a year ago on fewer shares outstanding.

Biogen Idec Inc. (BIIB), the biotechnology company reported first quarter revenue increased 7% to $1.3 billion from $1.2 billion in the same quarter last year. Net earnings in the quarter fell 3% to $302.6 million or $1.25 per diluted share compared to $294.3 million or $1.20 per share in the year ago.

Becton, Dickinson and Company (BDX), the medical devices maker reported second quarter revenue rose 3.6% to $1.99 billion from $1.92 billion in the same quarter last year. Net earnings in the quarter slumped 6.7% to $291 million or $1.39 per diluted share compared to $312 million or $1.38 per share in the year ago earlier.

Cummins Inc. (CMI), the diesel engine manufacturer said first quarter net sales grew 16% to $4.47 billion from $3.86 billion in the prior-year quarter. Net profit in the quarter surged 33% to $455 million or $2.38 per diluted share compared to net profit of $343 million or $1.75 per share a year ago.

ConocoPhillips (COP), the energy company said it has completed the spin-off of the downstream businesses to its stockholders and will receive one share of Phillips 66 common stock for every two shares of ConocoPhillips common stock.

Domino’s Pizza, Inc. (DPZ), the pizza restaurant reported first quarter total revenues edged down 1.2% to $384.6 million from $389.2 million in the same quarter last year. Same store sales rose 4.7%. Net income in the quarter plunged 24% to $20.7 million or 35 cents per diluted share compared to $27.1 million or 43 cents per share in the year ago quarter.

Icahn Enterprises, L.P. (IEP), the diversified holding company reported first quarter revenue fell 13% to $2.68 billion from $3.08 billion a year ago. Net income in the quarter slumped 80% to $49 million or 49 cents per diluted LP unit compared to net income of $240 million or $2.65 per diluted LP unit for the year-ago quarter

Legg Mason, Inc. (LM), the investment company reported fourth quarter total revenue decreased 9% to $648.6 million from $713.4 million in the same quarter last year. Net income in the quarter increased 10% to $76.1 million or 54 cents per diluted share compared to $69.0 million or 45 cents per share in the year ago quarter.

For the 2012 revenue slipped 4% to $2.66 billion from $2.78 billion in the last year. Net income in the year slumped 13% to $220.8 million or $1.54 per diluted share compared to $253.9 million or $1.63 per share in the year ago.

Marsh & McLennan Companies, Inc. (MMC), the insurance broker reported first quarter revenue grew 6% to $3.05 billion from $2.88 billion in the same quarter last year. Net income in the quarter rose 7% to $347 million or 63 cents per diluted share compared to $325 million or 58 cents per share in the year ago.

Office Depot, Inc. (ODP), the office products supplier reported first quarter sales fell 3% to $2.87 billion from $2.97 million in the same quarter last year. Net earnings in the quarter swung to $49.5 million or 14 cents per diluted share compared to net loss of $5.4 million or 5 cents per share in the year ago quarter.

Pfizer Inc. (PFE), the biopharmaceutical company reported first quarter revenues fell 7% to $15.4 billion from $16.50 billion in the year-ago quarter. Net income in the quarter dropped 19% to $1.79 billion or 24 cents per diluted share compared to net income of $2.22 billion or 28 cents per share last year.

Sirius XM Radio Inc. (SIRI), the broadcasting company reported first quarter revenues increased 11% to $805 million from $724 million in the same quarter last year. Same store sales rose 4.7%. Net income in the quarter soared 38% to $108 million or 2 cents per diluted share compared to $78 million or 1 cent per share in the year ago period.

Thomson Reuters Corporation (TRI), the provider of information said first quarter revenues edged higher 1% to $3.35 billion from $3.33 billion in the prior-year quarter. Net earnings in the quarter climbed 25.6% to $314 million or 38 cents per diluted share compared to net earnings of $250 million or 30 cents per share a year before.
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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