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DAILY EARNINGS

Nike, Paychex Profit Soar; Micron Technology Net Tumbles


Author: Mukesh Buch
ticker.com
Last Update: 11:12 AM ET December 23 2015

12:00 PM New York CalAmp third-quarter net dropped 4% to $4 million. Micron Technology first-quarter net tumbled 79% to $206 million. Nike second-quarter net surged 20% to $785 million. Paychex second-quarter net jumped 9% to $189.2 million.

Tollbooth Index gained 35.10 or 0.3% to 10,803.96.

Earnings Review

Bed Bath & Beyond Inc (BBBY), the home furnishings retailer lowered net sales forecast for the third-quarter to edge up 0.3% from a year ago to $3 billion while comparable sales to decrease 0.4%.

The home furnishings retailer also lowered its diluted earnings per share forecast in the range of $1.07 to $1.10 compared to earlier estimated range between $1.14 and $1.21 per share.

CalAmp Corp (CAMP), the wireless communication services provider said total revenues in the third-quarter ending in November surged 18% from a year ago to $74.7 million.

Net income in the quarter dropped 3.7% to $3.9 million compared to $4 million and diluted earnings per share were flat at 11 cents from the same quarter last year.

For the fourth-quarter, the company forecasted revenue in the range of $73 to $78 million and diluted earnings per share in the range of 9 cents to 13 cents.

Lindsay Corporation (LNN), the irrigation systems and infrastructure product provider reported revenues in the first-quarter ending in November plunged 9.8% from a year ago to $121.6 million.

Net income in the quarter declined 9.2% to $6.9 million compared to $7.6 million and diluted earnings per share were flat at 62 cents from the same quarter last year.

Micron Technology, Inc (MU), the memory chips maker reported revenues in the first-quarter ending on December 3 plummeted 27% from a year ago to $3.35 billion.

Net income in the quarter tumbled 79.4% to $206 million or 19 cents per diluted share compared to $1 billion or 84 cents per share from the same quarter last year.

Nike Inc (NKE), the athletic footwear, apparel, equipment maker reported revenues in the second-quarter ending in November jumped 4% from a year ago to $7.69 billion.

Net income in the quarter surged 20% to $785 million or 90 cents per diluted share compared to $655 million or 74 cents per share from the same quarter last year.

Nike said revenues in China soared 24% while revenues in North American jumped 9.4%.

Paychex, Inc (PAYX), the outsourcing services provider said revenues in the second-quarter ending in November soared 7% from a year ago to $722.4 million.

Net income in the quarter jumped 9% to $189.2 million or 52 cents per diluted share compared to $173 million or 47 cents per share from the same quarter last year.

The company said revenue in payroll service segment rose 4% to $427.4 million and revenue in human resource services business increased 11% to $283.9 million

Paychex forecasted total service revenue for the year to jump between 7% and 8% and net income to increase in the range of 8% to 9%.
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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