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DAILY EARNINGS

Monsanto Net Slips, General Mills Net Plunges


Author: Mukesh Buch
ticker.com
Last Update: 10:33 AM ET June 26 2013

10:45 AM New York Apollo Group third quarter net plummeted 40% to $80 million. General Mills fourth quarter net tumbled 70% to $1.86 billion. Lindsay third quarter net surged 39% to $26.1 million. Monsanto third quarter net slid 3% to $909 million. Smith & Wesson fourth quarter net surged 61% to $28.6 million. Synnex second quarter net tumbled 10% to $30.8 million.

Earnings Review

AeroVironment, Inc. (AVAV), the aerospace company reported revenue in the fourth quarter ending in April plunged 51% to $54.1 million. In the quarter net swung to loss $0.8 million or 4 cents a diluted share compared to net profit $17.8 million or 80 cents.

In the quarter, unmanned aircraft systems revenue declined to $55.0 million and efficient energy systems revenue decreased to $1.6 million.

The company added gross margin tumbled 64% to $17.7 million.

For the year, the company expects revenue in the range of $230 million to $250 million and diluted earnings per share from operations between 35 cents and 50 cents.

Apollo Group, Inc. (APOL), the private education provider stated revenue in the third quarter ending in May declined 14% to $946.8 million. Net income in the quarter plummeted 40% to $80 million or 71 cents a diluted share compared to $134 million or $1.13.

For the year, the company expects net revenue in the range of $3.65 billion to $3.70 billion.

General Mills, Inc. (GIS), the consumer foods maker reported net sales in the fourth quarter ending on May 26 advanced 8% to $4.4 billion. Net earnings in the quarter tumbled 70% to $1.86 billion or $2.79 a diluted share compared to $1.58 billion or $2.35.

The company added operating profit climbed 11% to $2.85 billion.

For the year, the company expects net sales to increase $18 billion and adjusted diluted earnings per share in the range of $2.87 to $2.90.

Lindsay Corporation (LNN), the water management products provider stated revenues in the third quarter ending in May jumped 28% to $219.1 million. Net earnings in the quarter surged 39% to $26.1 million or $2.01 a diluted share compared to $18.8 million or $1.47.

Gross profit for the company climbed 29% to $63 million and operating income jumped 38% to $39.6 million.

Monsanto Company (MON), the agricultural products provider said net sales in the third quarter ending in May down 0.7% to $4.25 billion. Net earnings in the quarter slid 3% to $909 million or $1.68 a diluted share compared to $937 million or $1.74.

Gross profit in the quarter declined 4% to $2.26 billion.

For the year, the company expects diluted earnings per share in the range of $4.50 to $4.55.

Park Electrochemical Corp. (PKE), the circuit materials maker reported sales in the first quarter ending on May 27 advanced 6% to $43.4 million. Net income in the quarter was flat at $4.93 million or 24 cents a diluted share compared to $4.93 million or 24 cents.

Smith & Wesson Holding Corporation (SWHC), the firearms maker said net sales in the fourth quarter ending in April soared 38% to $178.7 million. Net income from continuing operation in the quarter surged 61% to $28.6 million or 44 cents a diluted share compared to $17.8 million or 27 cents.

Gross profit for the fourth quarter climbed 46% to $68.5 million.

For the first quarter, the company expects net sales in the range of $162 million and $167 million and GAAP earnings per share from continuing operations between 34 cents and 37 cents.

For the year, the company anticipates net sales between $605 million and $615 million and GAAP diluted earnings per share from continuing operations in the range of $1.30 to $1.35.

Synnex Corporation (SNX), the business service provider reported net sales in the second quarter ending in May increased 4% to $2.59 billion. Net income in the quarter tumbled 10% to $30.8 million or 81 cents a diluted share compared to $34.4 million or 90 cents.

For the third quarter, Synnex expects revenue in the range of $2.65 billion to $2.75 billion and net income between $34.3 million to $35.5 million and diluted earnings per share in the range of 91 cents to 95 cents.

Synaptics Inc (SYNA), the electronic devices maker expects to report net revenue in the range of $227 million to $230 million for the fourth quarter of fiscal 2013 and increase at the mid-point of approximately 66% year-over-year and 40% sequentially.

The company will release fourth quarter results on August 1 for the quarter ending June 30.
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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