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DAILY EARNINGS

Roper Net Climbs; Laboratory Corp, Tenneco Net Drop


Author: Mukesh Buch
ticker.com
Last Update: 3:43 AM ET April 27 2015

12:30 AM New York Laboratory Corp first-quarter net tumbled 99% but sales soared 24%. Mercury General first-quarter net plunged 64% to $26 million. Roper Ind first-quarter net soared 6% to $156 million. Tennant first-quarter net declined 13% to $5 million. Tenneco first-quarter net dropped 4% to $54 million.

Tollbooth Index edged up 0.02% or 2.33 to 10,920.56.

Earnings Review

Laboratory Corp. of America Holdings (LH), the clinical laboratory services provider said net revenues in the first-quarter ending in March soared 23.9% to $1.77 billion from a year ago period.

Net income in the quarter tumbled 99.4% to $0.7 million or 1 cent per diluted share compared to $113.1 million or $1.31 from the same quarter last year.

Mercury General Corporation (MCY), the automobile insurer reported total revenues in the first-quarter ending in March dropped 2.4% to $744.55 million from a year ago period.

Net income in the quarter plunged 64% to $26.2 million or 47 cents per diluted share compared to $72.7 million or $1.32 from the same quarter last year.

Roper Industries, Inc (ROP), the medical and scientific imaging products maker reported revenues in the third-quarter ending in March climbed 3.7% to $865.3 million from a year ago period.

Net income in the quarter soared 5.8% to $155.8 million or $1.54 per diluted share compared to $147.2 million or $1.46 from the same quarter last year.

Roper forecasted adjusted earnings for the second-quarter in a range of $1.59 to $1.64 per share.

The company lifted adjusted earnings per share forecast for the fiscal 2015 between $6.75 and $6.95 from earlier range of $6.70 to $6.94 per share.

Tennant Company (TNC), the cleaning products provider said net sales in the first-quarter ending in March increased 0.8% to $185.7 million from a year ago period.

Net income in the quarter declined 13.3% to $5 million or 27 cents per diluted share compared to $5.8 million or 31 cents from the same quarter last year.

Tenneco Inc (TEN), the clean air products maker stated total revenues in the first-quarter ending in March slipped 3.3% to $2.02 billion from a year ago period.

Net income in the quarter dropped 3.6% to $54 million or 88 cents per diluted share compared to $56 million or 91 cents from the same quarter last year.

For the fiscal 2015, Tenneco reaffirmed revenue guidance between 5% and 8%.
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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