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DAILY EARNINGS

PriceSmart Net Raises; WD-40 Net Declines 10%


Author: Mukesh Buch
ticker.com
Last Update: 12:34 PM ET April 07 2017

12:00 PM New York – Griffin Industrial Realty second-quarter net loss widened but revenues advanced. PriceSmart second-quarter net jumped 5% to $27 million. WD-40 second-quarter net declined 10% to $12 million.

Tollbooth Index dropped 30.98 or 0.3% to 11,551.04.

Earnings Review

Griffin Industrial Realty Inc (GRIF), the real estate developer stated total revenues in the first-quarter ending in February increased 4.5% from a year ago to $7 million.

Net loss in the quarter widened to $0.9 million or 19 cents per diluted share from $0.3 million or 7 cents in the same quarter last year.

Haverty Furniture Companies, Inc (HVT), the residential furniture and accessories retailer said sales in the first-quarter ending in March advanced 3% from a year ago to $200.4 million.

Comparable store sales in the quarter increased 1.6%.

“Our first quarter sales were driven by successful President''s Day and March promotional sales events. The upholstery category remained strong, bolstered by a 10.3% increase in custom order business,” the chairman, president and chief executive officer Clarence H. Smith said.

The retailer schedule to release first-quarter results on May 1 after the market closes.

Intec Pharma Ltd (NTEC), the Israel-based biopharmaceutical drugs maker said net loss in the year ending in December widened to $13.4 million from $7.8 million and diluted loss per share increased to $1.17 to 92 cents.

PriceSmart, Inc (PSMT), the membership discount stores operator reported net sales in the second-quarter ending in February increased 2% from a year ago to $793.3 million.

Net income in the quarter jumped 5% to $27.2 million or 90 cents per diluted share from $25.9 million or 85 cents in the same quarter last year.

The retailer said net warehouse club sales in March advanced 5.3% to $239.9 million, from a year earlier.

WD-40 Company (WDFC), the household products maker said total net sales in the second-quarter ending in February rose 2% from a year ago to $96.5 million.

Net income in the quarter declined 10% to $12.4 million or 87 cents per diluted share from $13.7 million or 94 cents in the same quarter last year.

The household products maker forecasted net sales in fiscal 2017 to grow between 2% and 4% or between $390 million and $395 million and net income in the range of $51.3 million to $52.3 million and diluted earnings per share in the range of $3.64 to $3.71.
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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