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DAILY EARNINGS

PriceSmart Net Surges 43%, Texas Ind Loss Narrows


Author: Mukesh Buch
ticker.com
Last Update: 1:48 AM ET January 10 2013

10:45 AM New York – Emmis Communications third quarter net plunged 92%. MSC Indl. first quarter net up 6% to $63.2 million. PriceSmart first quarter net surged 43%. Ruby Tuesday net loss widened. Supervalu third quarter net swung to profit. Texas Ind. second quarter net loss narrowed.

Earnings Review

Astral Media Inc. , the Canada based media company said revenues in the first quarter ending in November grew 1% to $274.5 million from $271.1 million in the same period of last year. Net earnings in the quarter climbed 6% to $59.1 million or $1.04 per diluted share compared to $55.8 million or $1 a share a year ago earlier.

Emmis Communications Corporation (EMMS), the diversified media company stated net revenue in the third quarter ending in November was nearly flat to $53.5 million from $53.4 million in the same period of last year. Net income in the quarter plunged 92% to $4.60 million or 10 cents per diluted share compared to $57.6 million or $1.26 a share a year ago period.

Fisher Communications, Inc. (FSCI) climbed 15.8% or $4.51 to $33 after the media company’s boards explore and evaluate potential strategic alternatives.

MSC Industrial Direct Co., Inc. (MSM), the metalwork distributor said net sales in the first quarter ending on December 1 increased 6% to $577.5 million from $545.7 million in the same period of last year. Net income in the quarter advanced 6% to $63.2 million or $1 per diluted share compared to $59.8 million or 95 cents a share a year ago earlier.

The company expects second quarter net sales between $563 million and $575 million and adjusted diluted earnings per share in the range of 86 cents to 90 cents.

NuVasive, Inc. (NUVA), the medical devices maker anticipates fiscal 2012 revenue of nearly $619 million from earlier guidance of $601 million to $606 million.

For the fiscal 2013, NuVasive expects revenue of approximate $655 million.

PriceSmart, Inc. (PSMT), the warehouse club operator reported net sales in the first quarter ending in November climbed 12% to $535.3 million from $477.5 million in the same period of last year. Net income in the quarter surged 43% to $20 million or 66 cents per diluted share compared to $14 million or 47 cents a share a year ago earlier.

PriceSmart said net sales for the month of December 2012, increased 11.6% to $253.7 million and comparable warehouse sales increased 13.7%.

Ruby Tuesday, Inc. (RT), the restaurants operator reported net sales in the second quarter ending on December 4 slid 1% to $304.2 million from $307.4 million in the same period of last year. Net loss in the quarter widened to $15.1 million or 24 cents a diluted share compared to $2 million or 3 cents a share a year ago quarter.

Supervalu Inc. (SVU), the grocery retailer stated net sales in the third quarter ending on December 1 slipped 5% to $7.91 billion from $8.33 billion in the same period of last year. Net earnings in the quarter swung to $16 million or 8 cents per diluted share compared to net loss of $0.75 million or $3.54 a share a year ago period.

Separately the grocery retailer today announced sale of five retail grocery banners to Cerberus-Led Investor Group in a transaction valued at $3.3 billion. Tender offer for 30% or $4 per share represents a 50% premium to Supervalu’s closing share price as of January 9.

Texas Industries, Inc. (TXI), the heavy construction material supplier reported net sales in the second quarter ending in November jumped 11% to $167.7 million from $146.2 million in the same period of last year. Net loss in the quarter narrowed to $11.1 million or 40 cents a diluted share compared to $21 million or 75 cents a share a year ago quarter.

The company added net sales for cement jumped 20%, the growth of sixth consecutive quarter and aggregate and ready-mix net sales climbed 32% and 18% respectively compared to a year ago.
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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