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DAILY EARNINGS

Lululemon Net Climbs, Guess, Cato Net Plunge


Author: Mukesh Buch
ticker.com
Last Update: 11:14 AM ET March 21 2013

10:45 AM New York Guess fourth quarter net plunged 11% to $72.6 million. Jabil Circuit second quarter net dropped 9% to $88.5 million. Lululemon fourth quarter net climbed 49% to $109.4 million. Oracle third quarter net flat at $2.50 billion. Cato fourth quarter net plunged 22%.

Earnings Review

Guess, Inc. (GES), the apparel retailer stated net revenue in the fourth quarter ending on February 2 surged 5% to $815.1 million. Comparable sales in the quarter dropped 6.3%.

Net earnings in the quarter plunged 11% to $72.6 million or 85 cents a diluted share compared to $95.9 million or $1.05.

The company added operating income in the quarter declined 11.7% to $120 million.

The apparel retailer expects first quarter consolidated net revenues between $545 million and $560 million and diluted earnings per share in the range of 5 cents to 10 cents.

Herman Miller, Inc. (MLHR), the furnishing designer reported net sales in the third quarter ending on March 2 jumped 6% to $423.5 million. Net income in the quarter climbed 8% to $16.5 million or 32 cents a diluted share compared to $14.9 million or 26 cents.

For fourth quarter, Herman expects diluted earnings per share in the range of 30 cents to 34 cents.

IHS Inc (IHS), the energy company stated revenues in the first quarter ending on February 28 surged 12% to $383 million. Net income in the quarter advanced 5% to $24.7 million or 37 cents a diluted share compared to $23.5 million or 35 cents.

Jabil Circuit, Inc. (JBL), the electronic products maker reported net revenues in the second quarter ending on February 28 advanced 4% to $4.42 billion. Net income in the quarter dropped 9% to $88.5 million or 43 cents a diluted share compared to $97.7 million or 46 cents.

The company said gross profit in the quarter fell 0.7% to $324.5 million.

For the third quarter, company expects net revenue in the range of $4.3 billion to $4.5 billion and diluted earnings per share between 40 cents and 48 cents.

KB Home (KBH), the home builder stated net revenue in the first quarter ending on February 28 jumped 59% to $405.2 million. Net loss in the quarter narrowed to $12.5 million or 16 cents a diluted share compared to $45.8 million or 59 cents.

Lululemon Athletica Inc (LULU), after the athletic and yoga apparel retailer said net revenue in the fourth quarter ending on February 3 soared 31% to $485.5 million. Comparable sales in the quarter surged 10%.

Net income in the quarter climbed 49% to $109.4 million or 75 cents a diluted share compared to $73.5 million or 51 cents.

The company added direct to consumer revenue climbed 56% to $78.3 million and gross profit for the quarter jumped 31% to $274.5 million.

The Lulemon expects first quarter net revenue between $333 million and $343 million and comparable store sales to grow in the range of 5% to 8% and diluted earnings per share between 28 cents and 30 cents.

For year, Lulemon expect net revenue in the range of $1.62 billion to $1.64 billion and diluted earnings per share between $1.95 and $1.99.

The outlook reflects current impact of sheer pants issue including the loss of revenue in the range of $57 million to $67 million. The company also said on a conference call that more sheers pants are on the way from manufacturers in Asia with quality control problems.

Oracle Corporation (ORCL), the database developer stated total revenue in the third quarter ending on February 28 fell 1% to $9 billion. Net income in the quarter was flat at $2.50 billion or 52 cents a diluted share compared to $2.49 billion or 46 cents.

The company added operating income in the quarter rose 0.3% to $3.33 billion.

The Cato Corporation (CATO), the specialty retailer reported stated total revenue in the fourth quarter ending on February 2 advanced 5% to $235 million. Comparable sales in the quarter declined 7%.

Net income in the quarter plunged 22% to $7.94 million or 27 cents a diluted share compared to $10.1 million or 35 cents.

The retailer expects first quarter net income in the range of $30.3 million to $33.3 million and diluted earnings per share between $1.03 and $1.14.
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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