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DAILY EARNINGS

Lennar Net Jumps; Darden Restaurants Net Swings to Profit


Author: Mukesh Buch
ticker.com
Last Update: 11:26 AM ET December 18 2015

12:00 PM New York – BlackBerry second-quarter net swung to a loss $89 million. CarMax third-quarter net dropped 4% to $128 million. Darden Restaurants second-quarter net swung to profit to $43 million. Lennar fourth-quarter net soared 15% to $282 million. Red Hat third-quarter net fell 2% to $47 million.

Tollbooth Index dropped 140.98 or 1.3% to 10,639.62.

Earnings Review

AAR Corp (AIR), the diversified aviation company said sales in the second-quarter ending in November jumped 5.1% from a year ago to $423.8 million.

Net income in the quarter tumbled 47.4% to $8 million or 23 cents per diluted share compared to $15.2 million or 38 cents per share from the same quarter last year.

BlackBerry Ltd (BBRY), the mobile services provider reported revenues in the third-quarter ending on November 28 soared 11.8% from a year ago to $548 million.

Net in the quarter swung to a loss of $89 million or 17 cents per diluted share compared to profit of $51 million or 24 cents per share from the same quarter last year.

CarMax, Inc (KMX), the used vehicles dealer said revenues in the third-quarter ending in November soared 4.1% from a year ago to $3.54 billion.

CarMax stock plunged after the company missed earnings outlook of 65 cents a share and revenues expectations of $3.63 billion.

Used unit sales in comparable stores fell 0.8%, total wholesale unit sales jumped 3.4% and total used unit sales advanced 3.2%.

Net income in the quarter dropped 3.6% to $128.2 million or 63 cents per diluted share compared to $130 million or 60 cents per share from the same quarter last year.

“We had a challenging sales quarter, which together with higher advertising expenses”, said chief executive officer Tom Folliard.

Darden Restaurants, Inc (DRI), the full service restaurant operator stated sales in the second-quarter ending on November 29 increased 3.2% from a year ago to $1.61 billion.

Net in the quarter swung to profit to $43.2 million or 33 cents per diluted share compared to a loss of $32.8 million or 26 cents per share from the same quarter last year.

Lennar Corporation (LEN), the home builder reported revenues in the fourth-quarter ending in November surged 14% from a year ago to $2.9 billion.

Net income in the quarter soared 14.8% to $281.6 million or $1.21 per diluted share compared to $245.3 million or $1.07 per share from the same quarter last year.

Red Hat Inc (RHT), the open source software provider stated revenues in the third-quarter ending in November advanced 15.9% from a year ago to $457.5 million.

Net income in the quarter slipped 2.3% to $46.8 million or 25 cents per diluted share compared to $47.9 million or 26 cents per share from the same quarter last year.

For the fourth quarter, the company forecasted revenues in the range of $535 million to $539 million and earnings per share of about 47 cents.

For the year, the software developer lifted revenues forecast between revenues of $2.04 billion to $2.05 billion from earlier estimated range of $2.03 billion to $2.04 billion and earnings per share of about $1.86.
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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