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DAILY EARNINGS

Olympic Steel Net Swing to Profit; Pure Storage Net Swing to Loss


Author: Mukesh Buch
ticker.com
Last Update: 11:01 AM EST March 05 2018

11:45 PM New York Olympic Steel fourth-quarter net swung to profit and revenues soared 21%. Pure Storage fourth-quarter net loss narrowed to $12 million. Reata Pharmaceuticals fourth-quarter net loss narrowed and revenues plunged 11%.

Tollbooth Index slumped 66.79 or 0.5% to 14,309.52.

Earnings Review

Olympic Steel, Inc (ZEUS), the specialty metal service provider said net sales in the fourth-quarter ending in December soared 21% from a year ago to $308 million.

Net in the quarter swung to profit $4.2 million or 37 cent per diluted share from a loss of $2.1 million or 19 cents in the same quarter last year.

Pure Storage Inc (PSTG), the storage systems provider reported revenues in the fourth-quarter ending in January surged 48% from a year ago to $338.3 million.

Net loss in the quarter narrowed to $11.9 million or 5 cent per diluted share from $42.9 million or 21 cents in the same quarter last year.

Pure Storage forecasted fiscal 2019 total revenues in the range of $1.31 billion to $1.36 billion and gross margin in the range of 63.5% to 66.5%.

Reata Pharmaceuticals Inc (RETA), the clinical-stage biopharmaceutical products maker reported total revenues in the fourth-quarter ending in December plunged 11.2% from a year ago to $39 million.

Net loss in the quarter narrowed to $1.7 million or 10 cent per diluted share from $6.8 million or 43 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