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DAILY EARNINGS

Paychex Net Climbs; Lindsay, Steelcase Net Drop


Author: Mukesh Buch
ticker.com
Last Update: 1:06 PM ET March 25 2015

12:30 AM New York – Apollo Education second-quarter net swung to a loss of $34 million. Christopher & Banks first-quarter net tumbled 22% to $32 million. Lindsay second-quarter net plunged 33% to $9 million. Paychex third-quarter net jumped 4% to $169 million. Steelcase fourth-quarter net declined 5% to $23 million.

Tollbooth Index declined 1.1% or 121.61 to 10,477.70.

Earnings Review

Apollo Education Group Inc (APOL), the educational services provider said revenues in the second-quarter ending in February declined 14% to $578.6 million from a year ago period.

Net in the quarter swung to a loss of $33.6 million or 31 cents per diluted share compared to profit of $14.6 million or 13 cents from the same quarter last year.

The company forecasted net revenue for the fiscal 2015 in the range of $2.63 billion to $2.68 billion from previous guidance between $2.74 billion and $2.80 billion.

Christopher & Banks Corporation (CBK), the women’s apparel retailer stated net sales in the first-quarter ending in January slumped 6.6% to $98 million from a year ago period.

Net income in the quarter tumbled 22% to $32.2 million or 86 cents per diluted share compared to $41.3 million or $1.10 from the same quarter last year.

Lindsay Corporation (LNN), the agricultural equipment maker said revenues in the second-quarter ending in February dropped 7.7% to $141.1 million from a year ago period.

Net income in the quarter plunged 33.3% to $9 million or 75 cents per diluted share compared to $13.5 million or $1.04 from the same quarter last year.

Lexmark International Inc (LXK), the printing and imaging products distributor plans to acquire privately held Kofax Ltd, applications software provider for about $1 billion.

Paychex, Inc (PAYX), the payroll services provider reported total revenues in the third-quarter ending in February climbed 8% to $704.3 million from a year ago period.

Net income in the quarter jumped 4% to $169.4 million or 46 cents per diluted share compared to $160.1 million or 44 cents from the same quarter last year.

The company forecasted total service revenue for the fiscal 2015 to increase between 8% and 10% and net income to grow in the range of 6% to 8%.

Steelcase Inc (SCS), the office furniture maker stated revenues in the fourth-quarter ending on February 27 dropped 3.8% to $749.9 million from a year ago period.

Net income in the quarter declined 4.6% to $22.8 million or 18 cents per diluted share compared to $23.9 million or 19 cents from the same quarter last year.

For the fiscal first-quarter, the company forecasted revenues in the range of $690 million to $715 million and adjusted earnings per share between 13 cents and 17 cents.
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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