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DAILY EARNINGS

J. C. Penney Loss Widens, Nordstrom Net Drop


Author: Mukesh Buch
ticker.com
Last Update: 11:43 AM ET May 17 2013

10:45 AM New York Autodesk first quarter net dropped 30% to $55.6 million. Donaldson third quarter net slid 2% to $70 million. Dell first quarter net plunged 79% to $130 million. J. C. Penney first quarter net loss widened to $348 million. Nordstrom first quarter net slid 3% to $145 million.

Earnings Review

Autodesk, Inc. (ADSK), the software company reported total net revenue in the first quarter ending in April slid 3% to $570.4 million. Net income in the quarter dropped 30% to $55.6 million or 24 cents a diluted share compared to $78.9 million or 34 cents.

The company added gross profit in the quarter declined 5% to $502.9 million.

For the second quarter, Autodesk expects revenue in the range of $550 million to $570 million and diluted earnings per share between 21 cents and 26 cents.

Donaldson Company, Inc. (DCI), the filtration systems maker said net sales in the third quarter ending in April slipped 4% to $619 million. Net earnings in the quarter slid 2% to $70 million or 46 cents a diluted share compared to $71 million or 46 cents.

The company added operating income nearly flat to $99 million.

For the year, the Donaldson expects sales between $2.40 and $2.45 billion and diluted earnings per share in the range of $1.57 to $1.65.

Dell, Inc. (DELL), the information technology company stated net sales in the first quarter ending on May 3 declined 2% to $14.1 billion. Net income in the quarter plunged 79% to $130 million or 7 cents a diluted share compared to $635 million or 36 cents.

Operating income for the quarter declined 73% 226 million and gross margin slumped 10% to 2.75 billion.

In the quarter, enterprise solutions segment group revenue jumped 10% to $3.1 billion and services segment revenue rose 2% to $2.1 billion and software revenue dropped to $295 million.

The company did not provide fiscal 2014 second quarter outlook and said management is preoccupied with the transaction with its founder that may take the company private. Activist investor Carl Icahn and one of the largest investor Southeastern proposed an alternate offer last week.

J. C. Penney Company, Inc. (JCP), the holding company reported total sales in the first quarter ending on April 4 tumbled 16.4% to $.64 billion. Comparable sales for the quarter declined 16.6%.

Net loss in the quarter widened to $348 million or $1.58 a diluted share compared to $163 million or 75 cents.

The company added gross margin slipped 32% to $812 million.

Nordstrom, Inc. (JWN), the specialty retailer said net sales in the first quarter ending on May 4 soared 5% to $2.7 million. Comparable sales for the quarter increased to 2.7%.

Net income in the quarter slid 3% to $145 million or 73 cents a diluted share compared to $149 million or 70 cents.

Stage Stores, Inc. (SSI), the discount retailer reported total sales in the first quarter ending on May 4 rose 4% to $379 million. Comparable store sales for the quarter rose to 0.7%.

Net loss in the quarter widened to $6.86 million or 21 cents a diluted share compared to $0.42 million or 1 cent.

The Stage Stores expects for the year, sales in the range of $1.70 million to $1.73 million and adjusted earnings per share between $1.45 and $1.55.

Sina Corporation (SINA), the online media company stated net sales in the first quarter ending in April climbed 19% to $126 million. Net loss in the quarter narrowed to $13.2 million or 20 cents a diluted share compared to $13.7 million or 21 cents.

For the first quarter, online advertising revenues climbed 20% to $94.3 million and non-advertising total revenues jumped 14% to $31.7 million and mobile value-added services revenues dropped 17% to $15.9 million.

For the second quarter, the Sina expects non-GAAP net revenues between $143 million and $147 million and including advertising revenues in the range of $117 million to $119 million and non-GAAP non-advertising revenues between $26 million and $28 million.

ViaSat, Inc. (VSAT), the mobile broadband services provider reported net sales in the fourth quarter ending in April jumped 28% to $308.7 million. In the quarter net income swung to $1.9 million or 4 cents a diluted share compared to net loss of $7.4 million or 17 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