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DAILY EARNINGS

Red Hat Net Soars, General Mills Net Drops; BlackBerry Net Loss Widens


Author: Mukesh Buch
ticker.com
Last Update: 11:44 AM EST December 20 2017

11:45 PM New York BlackBerry third-quarter net loss widened to $275 million. General Mills second-quarter net declined 11% to $431 million. Micron Technology first-quarter net soared to $2.7 billion. Red Hat third-quarter net soared 49% to $101 million. Rev Group fourth-quarter net jumped 88% to $23 million.

Tollbooth Index increased 16.92 to 13,849.99.

Earnings Review

Actuant Corporation (ATU), the industrial products maker said revenues in the first-quarter ending in November jumped 9% from a year ago to $289 million.

Net income in the quarter jumped 4.6% to $5.2 million or 9 cents per diluted share from $4.9 million or 8 cents in the same quarter last year.

In the second-quarter, Actuant estimated sales in the range of $265 million to $275 million and diluted earnings per share in the range of 10 cents to 15 cents.

Actuant reaffirmed fiscal 2018 sales forecast in the range of $1.10 billion to $1.13 billion and diluted earnings per share between $1.05 and $1.15.

BlackBerry Ltd (BB), Canada-based mobile communication provider said revenues in the third-quarter ending in November plunged 21.8% from a year ago to $226 million.

Net loss in the quarter widened to $275 million or 52 cents per diluted share from $117 million or 22 cents in the same quarter last year.

General Mills, Inc (GIS), the branded consumer foods manufacturer reported net sales in the second-quarter ending on November 26 increased 2% from a year ago to $4.2 billion.

Net income in the quarter declined 10.6% to $430.5 million or 74 cents per diluted share from $481.8 million or 80 cents in the same quarter last year.

The consumer foods manufacturer lifted net sales forecast between flat and fall of 1% from the earlier estimate of decline of 1% to 2%.

Micron Technology, Inc (MU), the memory chip maker said revenues in the first-quarter ending in November surged 71.3% from a year ago to $6.8 billion.

Net income in the quarter soared to $2.7 billion or $2.19 per diluted share from $180 million or 16 cents in the same quarter last year.

""Micron''s strong results were driven by double-digit sequential revenue growth in mobile, server and SSD applications, with expanded gross margins and improved profitability,"" said president and chief executive officer Sanjay Mehrotra.

Red Hat Inc (RHT), the open source software developer said revenues in the third-quarter ending in November surged 22% from a year ago to $748 million.

Net income in the quarter soared 48.5% to $101 million or 54 cents per diluted share from $68 million or 37 cents in the same quarter last year.

Red Hat forecasted full-year revenues in the range of $2.906 billion to $2.911 billion and diluted earnings per share of about $2.02.

Rev Group Inc (REVG), the specialty vehicles maker said revenues in the fourth-quarter ending in October soared 25.5% from a year ago to $683.9 million.

Net income in the quarter jumped 87.6% to $22.7 million or 35 cents per diluted share from $12.1 million or 24 cents in the same quarter last year.

The specialty vehicles maker reaffirmed fiscal 2018 revenues between $2.4 billion and $2.7 billion and net income to be in the range of $85 million to $100 million.
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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