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DAILY EARNINGS

SYNNEX Net Soars 37%; Supervalu Net Swing to Loss


Author: Mukesh Buch
ticker.com
Last Update: 6:39 AM ET January 11 2017

12:00 PM New York Exfo first-quarter net soared 83% to $3 million. MSC Industrial Direct first-quarter net fell 2% to $54 million. Limoneira third-quarter net swung to a loss but revenues jumped 37%. Supervalu third-quarter net swung to a loss of $26 million. SYNNEX fourth-quarter net surged 37.3% to $85 million.

Tollbooth Index gained 18.28 or 0.2% to 11,326.42.

Earnings Review

Exfo Inc (EXFO), the Canada-based communications service provider said revenues in the first-quarter ending in November advanced 11.9% from a year ago to $61.8 million.

Net income in the quarter soared 83.3% to $3.3 million or 6 cents per diluted share compared to the $1.8 million or 3 cents per share in the same quarter last year.

General Motors Company (GM), the automaker lifted fiscal 2017 diluted earnings per share forecast in the range $6 of $6.50 from its estimated range for fiscal 2016 between $5.50 and $6.

GM said it generate about $6 billion of automotive-adjusted free cash flow and will buy back additional shares worth $5 billion and the board authorized to buy back additional $14 billion.

The automaker is scheduled to release its quarterly result on February 7.

MSC Industrial Direct Co Inc (MSM), the maintenance and repairing services provider reported revenues in the first-quarter ending on December 3 dropped 2.9% from a year ago to $686.3 million.

Net income in the quarter fell 1.7% to $54.1 million or 95 cents per diluted share compared to the $55 million or 89 cents per share in the same quarter last year.

The maintenance services provider forecasted net sales in the second-quarter between $688 million and $701 million and diluted earnings per share in the range of 86 cents to 90 cents.

Limoneira Company (LMNR), the agribusiness and real estate developer stated total revenues sales in the third-quarter ending in October jumped 37.3% from a year ago to $19.5 million.

Net in the quarter swung to a loss of $0.1 million or 1 cent per diluted share compared to the profit $0.5 million or 4 cents per share in the same quarter last year.

Supervalu Inc (SVU), the grocery retailer and distributor said total net sales in the third-quarter ending on December 3 fell 1.4% from a year ago to $3 billion.

Same-store sales in the quarter declined 5.7%.

Net in the quarter swung to a loss of $26 million or 10 cents per diluted share compared to the profit $34 million or 13 cents per share in the same quarter last year.

SYNNEX Corporation (SNX), the computer peripherals provider said revenues in the fourth-quarter ending in November jumped 9.5% from a year ago to $3.9 billion.

Net income in the quarter surged 37.3% to $85.3 million or $2.13 per diluted share compared to the $62.2 million or $1.56 per share in the same quarter last year.

In the fiscal first quarter, SYNNEX forecasted revenues in the range of $3.40 billion to $3.60 billion and net income in the range of $52.6 million to $55.8 million and diluted earnings per share in the range of $1.31 to $1.39.
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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