10:45 AM New York – American Software fourth quarter net soared 26%. Carnival Corp. second quarter net tumbled 93.2% to $14 million. Clarcor second quarter nearly flat to $32.9 million. Darden Restaurants fourth quarter net surged 10% to $151.2 million.

Earnings Review

American Software, Inc. (AMSWA), the software company reported total revenues in the fourth quarter ending in April increased 11% to $27.9 million compared to $25.2 million in the same period last year. Net earnings in the quarter soared 26% to $3.48 million or 13 cents per diluted share compared to $2.75 million or 10 cents per share a year ago earlier.

Carnival Corporation (CCL), the cruise company reported total revenues in the second quarter ending in May slid 2.2% to $3.54 billion compared to $3.62 billion in the same period last year. Net income in the quarter tumbled 93.2% to $14 million or 2 cents per diluted share compared to $206 million or 26 cents per share a year ago.

Clarcor Inc. (CLC), the filtration products maker reported total revenues in the second quarter ending on June 2 fell 1% to $284.9 million compared to $288.5 million in the same period last year. Net income in the quarter nearly flat to $32.9 million or 65 cents per diluted share compared to $32.8 million or 64 cents per share a year ago period.

The company lowered its guidance for 2012 for earnings per share to be $2.50 to $2.65 from our previous guidance of $2.55 to $2.70.

Darden Restaurants, Inc. (DRI), the restaurant company reported total revenues in the fourth quarter ending on May 27 rose 3.5% to $2.06 billion compared to $1.99 million in the same period last year. Net income in the quarter surged 10% to $151.2 million or $1.15 per diluted share compared to $137.4 million or 99 cents per share a year ago.

Darden expected earnings per share growth for fiscal 2013 to be between 8% and 12%.

Eagle Bulk Shipping Inc. (EGLE), the ocean transporter said it reached an agreement with its lenders led by Royal Bank of Scotland and will receive new liquidity facility of $20 million and also will get $1.13 billion as term loan maturing at the end of 2015.

Federal Signal Corporation (FSS), the safety and security products maker said it agreed to sell its Federal Signal Technologies, LLC business to 3M Company (MMM) valued $110 million in cash. The transaction is expected to be completed in the second half of this year.

Ryder System, Inc. (R), the transportation company lowered its second quarter comparable earnings forecast to 90 cents to 95 cents from $1.07 to $1.12 and full year profit forecasts to be between $3.65 and $3.85 from $4.02 to $4.12.

Sun Healthcare Group, Inc. (SUNH), the healthcare service provider said that Genesis HealthCare will acquired the company for $8.50 per share in cash resulting deal valued about $275 million and Board of Directors approved the transaction. The closing is expected to occur in fall.