S&P 500 2,441.20 17.28
Gold$1,224.80 $5.30
Nasdaq 6,253.81 61.92
Crude Oil $60,490.00      $-1570.00
DAILY EARNINGS

NGL Energy Net Rises, Smithfield Net Declines


Author: Mukesh Buch
ticker.com
Last Update: 11:32 AM ET June 14 2013

10:45 AM New York – American Superconductor fourth quarter net loss narrowed to $19.8 million. Casey’s General fourth quarter net rose 1% to $23.3 million. Capstone Turbine fourth quarter net widened to $22.6 million. Smithfield Foods fourth quarter net declined 63% to $29.7 million. NGL Energy fourth quarter net surged 60% to $22.3 million.

Earnings Review

American Superconductor Corporation (AMSC), the superconductor wire maker revenues in the fourth quarter ending in March plunged 29% to $20.4 million. Net loss in the quarter narrowed to $19.8 million or 35 cents a diluted share compared to $21.2 million or 42 cents.

For the first quarter, the company expects revenues increase $22 million and net loss less than $15 million, or 26 cents per share.

Casey’s General Stores, Inc (CASY), the grocery supplier said total revenues in the fourth quarter ending in April increased 3% to $1.81 billion. Net income in the quarter rose 1% to $23.3 million or 60 cents a diluted share compared to $23 million or 60 cents.

Capstone Turbine Corporation (CPST), the turbine generator stated net sales in the fourth quarter ending in March advanced 6% to $35.4 million. Net loss in the quarter widened to $22.6 million or 7 cents a diluted share compared to $18.8 million or 7 cents.

Elan Corporation, Plc (ELN), the drugmaker said it has authorized a formal sale process and invited Royalty Pharma to participate.

Earlier Royalty offered to buy Elan for $6.7 billion but the deal was rejected by the Elan managements.

Smithfield Foods, Inc. (SFD), the fresh meat and packaged meats products producer stated sales in the fourth quarter ending on April 28 grew 3% to $3.3 billion. Net income in the quarter declined 63% to $29.7 million or 21 cents a diluted share compared to $79.5 million or 49 cents.

The company added gross profit in the quarter dropped 18% to $281.4 million and operating profit plunged 53% to $72.9 million.

NGL Energy Partners LP (NGL), the vertically-integrated propane business reported total revenues in the fourth quarter ending in March soared 268% to $1.62 billion. Net income in the quarter surged 60% to $22.3 million or 39 cents a diluted share compared to $13.9 million or 47 cents.

Rentrak Corporation (RENT), the media company said revenues in the fourth quarter ending in March jumped 16% to $28.5 million. Net loss in the quarter narrowed to $2.03 million or 17 cents a diluted share compared to $4.62 million or 41 cents.

Restoration Hardware Holdings, Inc. (RH), the home furnishing merchant reported net revenues in the first quarter ending on May 4 climbed 38% to $301.3 million. Comparable store sales surged 41%.

Net loss in the quarter widened to $0.2 million or a break even share compared to $3.7 million or 10 cents.

For the second quarter, the company expects net revenues in the range of $375 million to $380 million and adjusted net income between $15.7 million and $16.5 million and adjusted diluted earnings per share in the range of 40 cents to 42 cents.

For the year, the company estimated net revenues in the range of $1.47 billion to $1.51 billion and adjusted net income between $55.8 million and $58.2 million and adjusted diluted earnings per share in the range of $1.41 to $1.47.

Synutra International, Inc. ((SYUT), the infant formula company said net sales in the fourth quarter ending in March decreased 1% to $72.9 million. In the quarter net swung to profit $3.27 million or 6 cents a diluted share compared to net loss $13.27 million or 23 cents.

The company added gross profit in the quarter tumbled 10% to $28.3 million.
  1
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc