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DAILY EARNINGS

Dril-Quip Net Surges, Salesforce Loss Widens


Author: Mukesh Buch
ticker.com
Last Update: 12:38 PM ET February 28 2014

10:45 AM New York Arena Pharma fourth-quarter net loss widened to $24 million. Dril-Quip fourth-quarter net jumped 57% to $47 million. J.C. Penney fourth-quarter net swung to a profit $35 million. NRG Energy fourth-quarter net swung to a loss $395 million. Salesforce fourth-quarter net loss widened $117 million.

Earnings Review

Arena Pharmaceuticals, Inc. (ARNA), the biopharmaceutical company stated total revenues in the fourth-quarter ending in December surged 242% to $6.5 billion.

Net loss in the quarter widened to $24 million or 11 cents a diluted share compared to $21 million or 10 cents.

Dril-Quip, Inc (DRQ), the offshore drilling equipment maker said revenue in the fourth-quarter ending in December climbed 23.3% to $232.5 million.

Net income in the quarter jumped 57.4% to $47.1 million or $1.15 a diluted share compared to $31 million or 76 cents.

The company said its backlog at year end was about $1.2 billion compared to $881 million a year ago.

Dril-Quip expects diluted earnings per share for the year in the range of $5 to $5.20 and for the first-quarter diluted earnings per share between $1.10 and $1.20.

J.C. Penney Company, Inc (JCP), the department stores operator reported sales in the fourth-quarter ending on February 1 dropped 2.6% to $3.78 billion. Comparable store sales in the quarter jumped 2%.

Net in the quarter swung to a profit $35 million or 11 cents a diluted share compared to a loss of $552 million or $2.51.

The retailer expects comparable store sales in the first-quarter to increase between 3% and 5% and earnings for the year to increase in mid-single digits.

NRG Energy, Inc. (NRG), the electricity producer reported total revenues in the fourth-quarter ending in December surged 36% to $11.3 billion.

Net in the quarter swung to a loss $395 million or $1.22 a diluted share compared to a profit of $286 million or $1.23.

Salesforce.com, Inc (CRM), the cloud computing service provider stated revenue in the fourth-quarter soared 37% to $1.15 billion.

Net loss in the quarter widened $116.6 million or 19 cents a diluted share compared to $20.8 million or 4 cents.

The company forecasted revenue for the first-quarter in the range of $1.205 billion to $1.210 billion, an increase of 35% to 36% and for the year revenue between $5.25 billion and $5.30 billion, an increase of 29% to 30% from a year earlier.

Southwestern Energy Company (SWN), the oil and gas explorer said net sales in the fourth-quarter ending in December soared 17% to $907 million.

Net in the quarter swung to a profit $144 million or 41 cents a diluted share compared to a loss of $356 million or $1.02.
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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