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DAILY EARNINGS

Heico, Nordson Net Surge; Joy Global Net Loss Narrows


Author: Mukesh Buch
ticker.com
Last Update: 12:13 PM ET December 14 2016

12:00 PM New York ABM Industries fourth-quarter net tumbled 80% to $8 million. Heico fourth-quarter net surged 16% to $44 million. Joy Global fourth-quarter net loss narrowed to $8.4 million. Nordson fourth-quarter net soared 53% to $76 million. Value Line second-quarter net plunged 25% to $2 million.

Tollbooth Index fell 38.25 or 0.3% to 11,346.66.

Earnings Review

ABM Industries, Inc formerly American Building Maintenance Industries, Inc (ABM), the cleaning services provider said revenues in the fourth-quarter ending in October rose 3.5% from a year ago to $1.3 billion.

Net income in the quarter tumbled 79.9% to $7.8 million or 14 cents per diluted share compared to the $38.8 million or 68 cents per share from the same quarter last year.

In the quarter, the cleaning services provider recorded non-cash, pre-tax impairment charge of $22.5 million.

In fiscal 2017, the group forecasted diluted earnings per share between $1.40 and $1.50.

Heico Corporation (HEI), the aerospace and electronics parts maker reported net sales in the fourth-quarter ending in October soared 11% from a year ago to $363.3 million.

Net income in the quarter surged 16% to $44.3 million or 65 cents per diluted share compared to the $38.3 million or 56 cents per share from the same quarter last year.

Joy Global Inc (JOY), the mining equipment manufacturer said net sales in the fourth-quarter ending on October 28, declined 24% from a year ago to $656.6 million.

Net loss in the quarter narrowed to $8.4 million or 9 cents per diluted share compared to the $1.3 billion or $13.49 per share from the same quarter last year.

The mining equipment maker said sales in the original equipment business tumbled 33% while sales in the service segment plunged 21% compared to the prior year.

In fiscal 2015, $1.44 billion included negative impact for charge in restructuring, impairment, mark to market pension, pension curtailment and excess purchase of accounting and acquisition costs in 2015.

Nordson Corp (NDSN), the industrial machinery maker reported net sales in the fourth-quarter ending in October jumped 14% from a year ago to $509.3 million.

Net income in the quarter soared 53% to $75.9 million or $1.31 per diluted share compared to the $49.6 million or 84 cents per share from the same quarter last year.

In first-quarter, Nordson estimated net sales to increase between 4% and 8% and diluted earnings per share in the range of 74 cents to 84 cents compared to the same period a year ago.

Value Line, Inc (VALU), the professional information services provider stated total revenues in the second-quarter ending in October were flat at from a year ago at $8.7 million.

Net income in the quarter plunged 25% to $1.5 million or 15 cents per diluted share compared to the $2 million or 20 cents per share from the same quarter last year.
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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