10:45 AM New York – American Greetings first quarter net tumbled 78% to $7.3 million. Family Dollar third quarter net increased 5.3% to $124.5 million. MSC Industrial third quarter net increased 13% to $70.2 million. Shaw Communications third quarter net soared 23% to $248 million.

Earnings Review

American Greetings Corporation (AM), the greeting cards maker reported total revenue in the first quarter ending on May 25 fell 3% to $393.1 million compared to $403.7 million in the same period last year. Net earnings in the quarter tumbled 78% to $7.3 million or 20 cents per diluted share compared to $32.6 million or 78 cents per share a year ago earlier.

CoreLogic, Inc. (CLGX), the provider of financial, property and consumer information raised its 2012 outlook and estimated full-year revenue between $1.45 billion and $1.48 billion and adjusted earnings per share in the range of $1.15 to $1.20.

Family Dollar Stores, Inc. (FDO), the retail discount stores operator reported net sales in the third quarter ending on May 26 grew 9.6% to $2.36 billion compared to $2.15 billion in the same period last year. Comparable store sales increased 5%.

Net income in the quarter increased 5.3% to $124.5 million or $1.06 per diluted share compared to $111.1 million or 91 cents per share a year ago.

For the fourth quarter the stores operator expects comparable store sales will grew in the range of 5% to 7% and earnings per share will increase between 71 cents and 81 cents and for the full year will be between $3.60 and $3.70. For the full year net sales increase between 9% and 10%

Herman Miller, Inc. (MLHR), the furniture and fixtures maker reported net sales in the fourth quarter ending on June 2 decreased 4.7% to $420.7 million compared to $441.5 million in the same period last year. Net earnings in the quarter declined 32% to $11.7 million or 20 cents per diluted share compared to $17.1 million or 30 cents per share a year ago earlier.

MSC Industrial Direct Co., Inc. (MSM), the metalwork distributor reported net sales in the third quarter ending on May 26 soared 15% to $612.0 million compared to $532.4 million in the same period last year. Net income in the quarter increased 13% to $70.2 million or $1.10 per diluted share compared to $62.1 million or 97 cents per share a year ago.

Omnova Solutions Inc. (OMN), the emulsion polymers provider reported net sales in the second quarter ending in May decreased 1.7% to $307.5 million compared to $312.8 million in the same period last year. Net income in the quarter surged 13% to $7.0 million or 15 cents per diluted share compared to $6.2 million or 14 cents per share a year ago period.

Paychex, Inc. (PAYX), the outsourcing solution provider reported total revenues in the fourth quarter ending in May grew 6% to $551.5 million compared to $522.7 million in the same period last year. Net income in the quarter increased 4% to $123.3 million or 34 cents per diluted share compared to $118.9 million or 33 cents per share a year ago.

Progress Software Corporation (PRGS), the enterprise software maker reported revenue in the second quarter ending in May declined 15% to $114.6 million compared to $134.7 million in the same period last year. Net loss in the quarter swung to $1.9 million or 3 cents per diluted share compared to net income of $18.2 million or 15 cents per share a year ago quarter.

Shaw Communications Inc. (SJR), the Canadian communications company reported total revenues in the third quarter ending in May nearly flat to $1.28 billion compared to in the same period last year. Net income in the quarter soared 23% to $248 million or 53 cents per diluted share compared to $201 million or 45 cents per share a year ago.

Schnitzer Steel Industries, Inc. (SCHN), the metal scrap recycler reported total revenues in the third quarter ending in May slumped 10% to $879.9 million compared to $981.1 million in the same period last year. Net income in the quarter declined 66% to $11.2 million or 40 cents per diluted share compared to $33.0 million or $1.18 per share a year ago period.

The Greenbrier Companies, Inc. (GBX), the car equipments maker said net sales in the third quarter ending in May surged 60% to $507.8 million compared to $317.3 million in the same period last year. Net income in the quarter swung to $19.1 million or 61 cents per diluted share compared to net loss of $3.3 million or 14 cents per share a year ago earlier.

Worthington Industries, Inc. (WOR), the metals processing company reported net revenues in the fourth quarter ending in May increased 12% to $755.4 million compared to $675.7 million in the same period last year. Net income in the quarter edged up to $52.1 million or 75 cents per diluted share compared to $51.9 million or 70 cents per share a year ago earlier.