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DAILY EARNINGS

Kroger, Red Hat Net Jump, Jabil Circuit Net Drops


Author: Mukesh Buch
ticker.com
Last Update: 11:39 AM ET June 20 2013

10:45 AM New York IHS second quarter net slid 3% to $42.9 million. Jabil Circuit third quarter net plunged 51% to $49.6 million. Micron Tech net swung to $43 million profit. Kroger first quarter net jumped 10% to $481 million. Rite Aid first quarter net surged to $91 million. Red Hat first quarter net jumped 8% to $43 million.

Earnings Review

Clarcor Inc. (CLC), the filtration products provider stated total revenue in the second quarter ending on June 1 increased 1% to $287.6 million. Net earnings in the quarter rose 1% to $33.1 million or 66 cents a diluted share compared to $32.9 million or 65 cents.

Operating profit in the quarter increased 1% to $49.4 million.

For the year, the company expects diluted earnings per share in the range of $2.45 to $2.55.

Finisar Corporation (FNSR), the networking products provider reported revenues in the second quarter ending in May rose 5% to $232 million. In the quarter net swung to profit $0.27 million or break even share compared to net loss $6.20 million or 7 cents.

For the third quarter, the company expects revenues in the range of $230 million to $245 million and non-GAAP earnings per diluted share between 14 cents and 18 cents.

IHS Inc. (IHS), the insight information provider said revenue in the second quarter ending in May jumped 8% to $418 million. Net income in the quarter declined 3% to $42.9 million or 65 cents a diluted share compared to $44.2 million or 66 cents.

For the year, IHS expects revenue between $1.66 billion and $1.73 billion and adjusted EBITDA in a range of $540 million to $582 million and Adjusted diluted earnings per share between $4.23 and $4.43.

Jabil Circuit, Inc. (JBL), the electronic chip maker stated total revenues in the third quarter ending in May grew 5% to $4.5 billion. Net income in the quarter plunged 51% to $49.6 million or 24 cents a diluted share compared to $101.6 million or 48 cents.

The diversified manufacturing revenue in the quarter increased to $1.8 billion and enterprise and infrastructure revenue was at $1.4 billion and high velocity sector revenue was at $1.3 billion.

For the fourth quarter, Jabil Circuit expects net revenue in the range of $4.45 billion to $4.65 billion and GAAP diluted earnings per share between 4 cents and 12 cents.

Methode Electronics, Inc. (MEI), the electronic components maker reported net sales in the fourth quarter ending on April 27 climbed 17.4% to $148.4 million. Net income in the quarter surged 75.9% to $10.2 million or 27 cents a diluted share compared to $5.8 million or 15 cents.

Micron Technology, Inc. (MU), the device maker said total revenue in the third quarter ending on May 30 advanced 8% to $2.32 billion. In the quarter net swung to profit $43 million or 4 cents a diluted share compared to net loss $320 million or 32 cents.

Gross margin in the quarter surged 138% to $556 million.

The Kroger Co (KR), the supermarket operator reported total sales in the first quarter ending on May 25 grew 3.4% to $30 billion. Net earnings for the quarter jumped 9.6% to $481 million or 92 per diluted share compared to $439 million or 78 cents.

For the quarter, FIFO gross margin of sales was 20.65% and LIFO charge $17 million.

The company lifted its net earnings guidance for the year and now expects between $2.73 and $2.80 per diluted share.

Pier 1 Imports, Inc (PIR), the home furnishings retailer said total sales in the first quarter ending on June 1 jumped 9.3% to $394.9 million. Comparable store sales for the quarter climbed 5.9%

Net income for the quarter climbed 14% to $20.3 million or 19 per diluted share compared to $17.8 million or 16 cents.

Gross profit as a percentage of sales rose 80 basis points to 42.4% to $167.6 million and operating margin advanced 80 basis points to 8.4%.

The retailer lifted its guidance for fiscal year 2014 and now expects earnings per share in the range of $1.27 to $1.32 from earlier forecast of $1.26 to $1.31. Comparable store sales grow in the mid single-digit range.

Rite Aid Corporation (RAD), the drugstore chain reported revenue in the first quarter ending on June 1 slid 2.7% to $6.3 billion. Same store sales for the quarter dropped 2.5%

Net income for the quarter climbed nearly three-fold to $91 million or 9 per diluted share compared to $30.7 million or 3 cents.

Rite Aid confirmed its fiscal 2014 guidance for sales between $24.9 billion and $25.3 billion and same store sales to range from a decrease of 0.75% to an increase of 0.75%.

Red Hat, Inc. (RHT), the software solutions provider reported total revenue in the first quarter ending in May soared 15% to $363 million. Net income in the quarter jumped 8% to $43 million or 21 cents a diluted share compared to $37 million or 19 cents.

The company added operating income in the first quarter climbed 11% to $57 million.

Steelcase Inc. (SCS), the workplace services provider stated total revenue in the first quarter ending in May grew 1% to $667.1 million. Net income in the quarter flat to $13.2 million or 10 cents a diluted share compared to $13.2 million or 10 cents.

Gross profit in the quarter advanced 7% to $209.7 million and operating income increased 6% to $20.9 million.

For the second quarter, Steelcase expects diluted earnings per share between 22 cents and 26 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