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DAILY EARNINGS

GMS, KMG Chemicals Net Soar; VeriFone Net Swing to Loss


Author: Mukesh Buch
ticker.com
Last Update: 6:45 AM ET December 13 2016

12:00 PM New York Blue Bird fourth-quarter net plunged 32% to $11 million. GMS second-quarter net surged to $17 million. Investors Real Estate Trust second-quarter net tumbled 37% to $9 million. KMG Chemicals first-quarter net soared 24% to $6 million. VeriFone fourth-quarter net swung to a loss of $5 million.

Tollbooth Index advanced 67.88 or 0.6% to 11,379.59.

Earnings Review

Blue Bird Corporation, formerly Hennessy Capital Acquisition Corp, the privately held school buses manufacturer said net sales in the fourth-quarter ending on October 1, declined 6.9% from a year ago to $286.4 million.

Net income in the quarter plunged 32% to $10.8 million or 39 cents per diluted share compared to the $15.9 million or 63 cents per share from the same quarter last year.

The school buses manufacturer said overall unit sales in the year increased 2% to 10,616, with propane-powered bus sales up 33% to 2,240 vehicles.

Unit sales for the fourth-quarter totalled 3,308, with propane unit sales of 693 vehicles and gross margin of about 13.5% but gross profit slipped 2% to $38.7 million.

GMS Inc (GMS), the wallboard and suspended ceilings systems distributor reported revenues in the second-quarter ending in October soared 29.2% from a year ago to $591.8 million.

Net income in the quarter surged to $17.2 million or 42 cents per diluted share compared to the $2.8 million or 9 cents per share from the same quarter last year.

Investors Real Estate Trust (IRET), the real estate developer stated revenues in the second-quarter ending in October advanced 9.2% from a year ago to $50.6 million.

Net income in the quarter tumbled 36.9% to $8.7 million or 7 cents per diluted share compared to the $13.8 million or 13 cents per share from the same quarter last year.

KMG Chemicals, Inc (KMG), the specialty chemicals manufacturer said revenues in the first-quarter ending in October slid 0.3% from a year ago to $76.5 million.

Net income in the quarter soared 23.9% to $5.7 million or 47 cents per diluted share compared to the $4.6 million or 39 cents per share from the same quarter last year.

VeriFone Systems Inc (PAY), the electronic payment solutions provider reported revenues in the fourth-quarter ending in October plummeted 9.7% from a year ago to $464.2 million.

Net in the quarter swung to a loss of $4.5 million or 4 cents per diluted share compared to the profit of $38.2 million or 33 cents per share from the same quarter last year.

VeriFone forecasted revenues in the fiscal first-quarter of about $446 million and net loss per diluted share of about 8 cents.

In fiscal 2017, the company estimated revenues between $1.90 billion and $1.91 billion and diluted earnings per share in the range of 37 cents to 41 cents.
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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