10:45 AM New York – Advance Auto Parts first quarter net surged 22% to $133.5 million. Computer Sciences fourth quarter net swung to $158 million loss and Precision Castparts fourth quarter net soared 24% to $336.1 million. The Buckle first quarter net increased 11.6% to $37.8 million.

Earnings Review

Advance Auto Parts, Inc. (AAP), the automotive parts retailer reported first quarter net sales grew 3.1% to $1.96 billion compared to $1.90 billion in the same period last year. Comparable store sales increased 2.1%.

Net income in the quarter surged 22% to $133.5 million or $1.79 per diluted share compared to $109.6 million or $1.35 per share a year ago earlier.

Computer Sciences Corporation (CSC), the information technology provider reported fourth quarter revenue fell 2.1% to $4.11 billion compared to $4.20 billion in the same period last year. Net loss in the quarter swung to $158 million or $1.02 per diluted share compared to net income of $171 million or $1.09 per share a year ago earlier.

Revenue for the fiscal 2012 fell 1% to $15.88 billion from $16.04 billion a year ago. Net loss swung to $4.24 billion or $27.37 per share from net income of $740 million or $4.73 per share in the prior year.

Dollar Tree, Inc. (DLTR), the discount retailer reported first quarter net sales increased 11.5% to $1.72 billion compared to $1.55 billion in the same period last year. Comparable store sales increased 5.6%.

Net income in the quarter increased 15% to $116.1 million or $1.0 per diluted share compared to $101.0 million or 82 cents per share a year ago earlier.

The company estimates sales for the second quarter to be in the range of $1.66 billion to $1.70 billion and earnings per share estimated to be in the range of 87 cents to 93 cents. For the year sales are estimated to be in the range of $7.33 billion to $7.46 billion and earnings per share are expected to be $4.74 to $4.94.

Precision Castparts Corp. (PCP), the fabricated products maker reported fourth quarter sales grew 16% to $1.95 billion compared to $1.67 billion in the same period last year. Net income in the quarter soared 24% to $336.1 million or $2.30 per diluted share compared to $271.0 million or $1.87 per share a year ago.

Revenue for the fiscal 2012 fell 1% to $7.21 billion from $6.22 billion a year ago. Net income surged 21% to $1.22 billion or $8.41 per share from $1.01 billion or $7.04 per share in the prior year.

Ross Stores, Inc. (ROST), the off-price retailer reported first quarter sales grew 14% to $2.36 billion compared to $2.07 billion in the same period last year. Comparable store sales increased 9%.

Net earnings in the quarter soared 21% to $208.6 million or 93 cents per diluted share compared to $173.0 million or 74 cents per share a year ago period.

The off-price retailer raised earnings outlook for the year to $3.26 to $3.37 from earlier guidance of $3.12 to $3.27. For the second quarter now forecasts same store sales to increase 3% to 4% and earnings per share of 72 cents to 75 cents above from last year''s 64 cents.

Sears Holdings Corporation (SHLD), the retailer reported first quarter total revenue fell 2.8% to $9.27 billion compared to $9.54 billion in the same period last year. Comparable store sales at Sears Domestic''s edged down 1%, Kmart''s comparable store sales fell 1.6% and Sears Canada''s comparable store sales declined 6.3%.

Net income in the quarter swung to $189 million or $1.78 per diluted share compared to $170 million or $1.58 per share a year ago earlier.

Sears plan to pursue a partial spin-off of its interest in Sears Canada Inc. Sears Holdings currently owns approximately 95% of the common stocks of Sears Canada and will retain approximately 51% of the common stocks of Sears Canada.

The Cato Corporation (CATO), the women’s specialty retailer reported first quarter net sales rose 1% to $272.8 million compared to $270.9 million in the same period last year. Same store sales decreased 2%.

Net earnings in the quarter increased 11.6% to $31.7 million or $1.09 per diluted share compared to $30.5 million or $1.04 per share a year ago period.

The retailer said second quarter remain unchanged and reflect same store sales in the range of slipping 2% to flat and earnings per diluted share in the range of 53 cents to 57 cents and full year earnings are estimated to be between $2.16 to $2.26 versus $2.21 in the last year.