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DAILY EARNINGS

Daktronics, Tech Data Net Jump; Best Buy Net Tumble


Author: Mukesh Buch
ticker.com
Last Update: 12:11 PM ET August 26 2014

12:30 AM New York Best Buy second-quarter net tumbled 45% to $146 million. Bank of Montreal third-quarter net was flat at $1.2 billion. DSW second-quarter net rose 2% to $34 million. Sanderson Farms third-quarter net jumped 12% to $76 million. Tech Data second-quarter net soared 167% to $39 million.

Tollbooth Index gained 0.4% or 36.04 to 9,560.62.

Earnings Review

Best Buy Co Inc (BBY), the electronics products retailer reported revenue in the second-quarter ending on August 3 declined 4% to $8.90 billion from a year ago period. Comparable store sales in the quarter slipped 2% while and online comparable sales surged 22%.

Net income in the quarter tumbled 45.1% to $146 million or 42 cents a diluted share compared to $266 million or 77 cents from a same quarter last year.

Bank of Montreal (BMO), the diversified financial services provider said revenue in the third-quarter ending in June jumped 4.2% to $4.21 billion from a year ago period.

Net income in the quarter was flat at $1.2 billion from a year earlier and diluted earnings per share edged up to $1.67 from $1.60 in the same quarter last year.

DSW Inc (DSW), the footwear and accessories retailer reported net sales in the second-quarter ending on August 2 jumped 4.5% to $587 million from a year ago period.

Net income in the quarter rose 1.8% to $34.3 million or 38 cents a diluted share compared to $33.7 million or 37 cents from a same quarter last year.

Daktronics, Inc (DAKT), the electronic scoreboards and display systems maker said net sales in the second-quarter ending on August 2 surged 20.1% to $166.6 million from a year ago period.

Net income in the quarter climbed 53% to $8.75 million or 20 cents a diluted share compared to $5.72 million or 13 cents from a same quarter last year.

Movado Group, Inc (MOV), the watches maker stated net sales in the second-quarter ending in July grew 3.8% to $143.6 million from a year ago period.

Net income in the quarter fell 2.4% to $12.2 million or 47 cents a diluted share compared to $12.5 million or 48 cents from a same quarter last year.

Sanderson Farms, Inc (SAFM), the poultry processing company reported net sales in the third-quarter ending in July advanced 4% to $768.4 million from a year ago period.

Net income in the quarter jumped 12% to $76.1 million or $3.30 a diluted share compared to $67.9 million or $2.92 from a same quarter last year.

Tech Data Corp (TECD), the electronics products wholesaler stated net sales in the second-quarter ending in July soared 8% to $6.8 billion from a year ago period.

Net income in the quarter soared 167% to $39.3 million or $1.03 a diluted share compared to $14.7 million or 38 cents from a 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