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DAILY EARNINGS

FactSet Net Climbs, Motorcar Parts Net Loss Widens


Author: Mukesh Buch
ticker.com
Last Update: 7:49 AM ET June 18 2013

10:45 AM New York FactSet Research third quarter net climbed 11% to $53.4 million. Korn/Ferry fourth quarter net nearly flat to $12.2 million. Motorcar Parts of America fourth quarter net loss widened to $73.7 million. Mechel OAO first quarter net swung to loss $320.6 million.

Earnings Review

FactSet Research Systems Inc. (FDS), the integrated financial information provider stated revenues in the third quarter ending in May jumped 6% to $214.6 million. Net income in the quarter climbed 11% to $53.4 million or $1.20 a diluted share compared to $48 million or $1.05.

The company added operating income increased 5% to $71.6 million.

For the fourth quarter, the company expects revenues in the range of $218 million to $221 million and GAAP diluted earnings per share between $1.18 and $1.21 or increase 11%.

Hormel Foods Corporation (HRL), the food products maker lowered its earnings outlook for fiscal 2013 and expects between $1.88 and $1.96 from earlier guidance of $1.93 to $2.03 on weak sales in its refrigerated foods and pork segment unit.

Korn/Ferry International (KFY), the recruitment company reported total revenues in the fourth quarter ending in April jumped 15% to $238.6 million. Net income in the quarter nearly was flat at $12.2 million or 25 cents a diluted share compared to $12 million or 25 cents.

For the first quarter, the company expects revenue between $215 million and $227 million and diluted earnings per share in the range of 19 cents to 27 cents.

Motorcar Parts of America, Inc (MPAA), the automobile manufacturer said total revenues in the fourth quarter ending in March increased 3% to $89.3 million. Net loss in the quarter widened to $73.7 million or $5.09 a diluted share compared to $12.9 million or $1.03.

Gross profit in the quarter plunged 61% to $2.85 million operating loss widened to $94.3 million.

Mechel OAO (MTL), the Russia based integrated mining and steel producer reported revenue in the first quarter ending in March declined to $2.48 billion from $2.95 billion a year earlier. In the quarter net swung to a loss $320.6 million compared to profit of $218 million.
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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