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DAILY EARNINGS

G-III Apparel, IHS Net Jump; McCormick Net Declines


Author: Mukesh Buch
ticker.com
Last Update: 12:45 PM ET March 24 2015

12:30 AM New York G-III Apparel fourth-quarter net surged 139% to $22 million. HD Supply fourth-quarter net widened to $93 million. IHS first-quarter net soared 22% to $40 million. McCormick first-quarter net tumbled 15% to $71 million.

Tollbooth Index increased 0.6% or 62.84 to 10,644.18.

Earnings Review

G-III Apparel Group, Ltd (GIII), the outerwear apparel and accessories maker said net sales in the fourth-quarter ending in January soared 9% to $514.3 million from a year ago period.

Net income in the quarter surged 139% to $22.2 million or 96 cents per diluted share compared to $13.1 million or 62 cents from the same quarter last year.

The apparel and accessories maker forecasted net sales for the first-quarter of about $406 million and net income between $1.1 million and $3.5 million and diluted earnings per share between 5 cents and 15 cents.

The company forecasted net sales for the year of about $2.37 billion and net income between $116 million and $122 million and diluted earnings per share in the range of $5.05 to $5.25.

HD Supply Holdings Inc (HDS), the home contractor supply service provider reported net sales in the fourth-quarter ending on February climbed 6.9% to $2 billion from a year ago period.

Net loss in the quarter widened to $93 million or 48 cents per diluted share compared to $66 million or 34 cents from the same quarter last year.

IHS Inc (IHS), the professional information service provider stated revenues in the first-quarter ending in February jumped 4.1% to $546.3 million from a year ago period.

Net income in the quarter soared 21.9% to $39.5 million or 57 cents per diluted share compared to $32.4 million or 47 cents from the same quarter last year.

The business information services provider revised its revenue forecast for the year in the range of $2.27 billion to $2.31 billion and earnings per share between $5.77 and $5.97.

McCormick & Company, Inc (MKC), the spice maker reported revenues in the first-quarter ending in February jumped 2% to $1.01 billion from a year ago period.

Net income in the quarter tumbled 14.5% to $70.5 million or 55 cents per diluted share compared to $82.5 million or 62 cents from the same quarter last year.

McCormick forecasted adjusted earnings per share in the range of $3.44 to $3.51 and sales to rise between 4% and 6%.
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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