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DAILY EARNINGS

General Mills, Nike, Red Hat Profit Jump; Fred's Net Loss Narrows


Author: Mukesh Buch
ticker.com
Last Update: 12:08 PM ET March 23 2016

12:00 PM New York Cintas third-quarter net soared 24% to $117 million. General Mills third-quarter net jumped 5% to $362 million. Neogen third-quarter net surged 12% to $8 million. Nike third-quarter net jumped 20% to $950 million. Red Hat fourth-quarter net soared 11% to $53 million.

Tollbooth Index slid 13.94 to 10,645.77.

Earnings Review

Cintas Corporation (CTAS), the business services provider said revenues in the third-quarter ending in February advanced 9.7% from a year ago to $1.2 billion.

Net income in the quarter soared 23.7% to $117.3 million or $1.05 per diluted share compared to $94.9 million or 80 cents per share from the same quarter last year.

Fred''s, Inc (FRED), the general merchandise stores operator stated sales in the fourth-quarter ending in January jumped 10% from a year ago to $554.6 million.

Comparable store sales in the quarter increased 1.7%, the best sales performance since 2010.

Net loss in the quarter narrowed to $3.9 million or 11 cents per diluted share compared to $8.2 million or 22 cents per share from the same quarter last year.

Fred estimated total sales in the first-quarter to soar in the range of 8% to 12% and comparable store sales to increase between 1% and 3% and diluted earnings per share to be in the range of flat to 3 cents.

General Mills, Inc (GIS), the branded consumer foods maker reported net sales in the third-quarter ending in February slumped 8% from a year ago to $4 billion.

Net income in the quarter jumped 5.4% to $361.7 million or 59 cents per diluted share compared to $343.2 million or 56 cents per share from the same quarter last year.

Neogen Corporation (NEOG), the diagnostic test kits maker reported revenues in the third-quarter ending in February soared 12% from a year ago to $76.7 million.

Net income in the quarter surged 12% to $8.3 million or 22 cents per diluted share compared to $7.4 million or 20 cents per share from the same quarter last year.

Nike Inc (NKE), the athletic footwear, apparel, equipment maker reported revenues in the third-quarter ending in February advanced 8% from a year ago to $8 billion.

Net income in the quarter jumped 20% to $950 million or 55 cents per diluted share compared to $791 million or 45 cents per share from the same quarter last year.

Red Hat Inc (RHT), the open source software developer said total revenues in the fourth-quarter ending in February jumped 17% from a year ago to $543.5 million.

Net income in the quarter soared 11.1% to $53 million or 29 cents per diluted share compared to $47.7 million or 26 cents per share from the same quarter last year.

In the first-quarter, the software company estimated revenues between $558 million and $566 million while diluted earnings per share of about 28 cents.

Red Hat forecasted revenues in the year in the range of $2.38 billion to $2.42 billion and diluted earnings per share between $1.30 and $1.34.
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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