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DAILY EARNINGS

MSC Industrial Direct, SYNNEX Net Jump; Lennar Net Falls


Author: Mukesh Buch
ticker.com
Last Update: 11:57 AM EST January 10 2018

11:45 PM New York Lennar fourth-quarter net fell 1% to $310 million. MSC Industrial Direct first-quarter net jumped 9% to $60 million. Supervalu third-quarter net swung to profit $26 million. SYNNEX Corporation fourth-quarter net surged 7% to $91 million. VOXX International third-quarter net surged 48% to $9 million.

Tollbooth Index edged down 1.11 to 14,266.82.

Earnings Review

Lennar Corporation (LNN), the real estate developer said total revenues said total revenues in the fourth-quarter ending in November soared 12.1% from a year ago to $3.8 billion.

Net income in the quarter fell 1.2% to $309.6 million or $1.29 per diluted share from $313.5 million or $1.31 in the same quarter last year.

On October 30, 2017, CalAtlantic entered into merger agreement with Lennar Corporation pursuant to which each share of CalAtlantic stock will be exchanged for 0.885 shares of Lennar Class A common stock and 0.0177 shares of Lennar Class B common stock.

The merger is subject to approval by the stockholders and the meetings scheduled to be held on February 12, 2018.

MSC Industrial Direct Co Inc (MSM), the industrial machinery services provider reported net sales in the first-quarter ending on December 2 surged 12% from a year ago to $768.6 million.

Net income in the quarter jumped 9.4% to $59.6 million or $1.05 per diluted share from $54.3 million or 96 cents in the same quarter last year.

The industrial machinery services provider forecasted fiscal second-quarter net sales between $761 million and $775 million and diluted earnings per share in the range of $1.93 to $2.03 and average daily sales to increase roughly 9.1%.

Supervalu Inc (SVU), the food wholesale distributor said net sales in the third-quarter ending on December 2 jumped 31% from a year ago to $3.94 billion.

Net in the quarter swung to profit $26 million or 67 cents per diluted share from a loss of $26 million or 69 cents in the same quarter last year.

SYNNEX Corporation (SNX), the computer peripherals provider reported revenues in the fourth-quarter ending in November soared 36.7% from a year ago to $5.3 billion.

Net income in the quarter surged 6.7% to $91.1 million or $2.26 per diluted share from $85.3 million or $2.13 in the same quarter last year.

SYNNEX forecasted fiscal 2018 revenues growth in the range of $4.35 billion to $4.55 billion, net income in the range of $64 million to $67.8 million and diluted earnings per share between $1.58 and $1.68.

VOXX International Corp (VOXX), the audio and consumer accessories maker said net sales in the third-quarter ending in November slid 0.5% from a year ago to $156.6 million.

Net income in the quarter surged 48.3% to $8.6 million or 35 cents per diluted share from $5.8 million or 24 cents in 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