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DAILY EARNINGS

Schulman, Sonic Net Jump; IHS Net Declines


Author: Mukesh Buch
ticker.com
Last Update: 11:47 AM ET January 07 2014

10:45 AM New York Schulman first-quarter net jumped 28% to $15 million. Commercial Metals net dropped 8% to $46 million. Calavo Growers net flat. IHS net declined 12% to $41 million. Sonic net jumped 34% to $8 million.

Earnings Review

A. Schulman Inc (SHLM), the plastic resins supplier reported net sales in the first-quarter ending in November climbed 10% to $585.4 million.

Net income in the quarter jumped 28% to $15.1 million or 52 cents per diluted share compared to $11.8 million or 40 cents per share.

The company also announced the acquisition of Prime Colorants Inc, a custom colors and additive concentrates maker, for $15.1 million.

Commercial Metals Company (CMC), the steel and metal fabricator said net sales in the first-quarter ending in November dropped 4% to $1.68 million.

Net earnings in the quarter dropped 7.6% to $45.9 million or 39 cents per diluted share compared to $49.7 million or 42 cents per share.

Calavo Growers, Inc (CVGW), the fresh food provider stated revenue in the fourth-quarter ending in October surged 35% to $190.7 million.

Net income in the quarter was flat at $6 million or 40 cents per diluted share compared to $6.2 million or 42 cents per share.

IHS Inc (IHS), the professional information services provider reported revenue in the fourth-quarter ending in November soared 35% to $560 million.

Net income in the quarter declined 12% to $40.8 million or 60 cents per diluted share compared to $46.4 million or 69 cents per share.

IHS expects revenue for the year in a range of $2.17 billion to $2.23 billion and adjusted earnings per diluted share between $5.50 and $5.85.

Synergy Resources Corporation (SYRG), the oil and gas explorer said revenue in the first-quarter ending in November climbed 132% to $19.3 million.

Net income in the quarter soared 173% to $6.1 million or 8 cents per diluted share compared to $2.2 million or 4 cents per share.

Sonic Corporation (SONC), the fast-food restaurants chain operator said total revenue in the first-quarter ending in the November was nearly flat at $126.7 million. System-wide same-store sales for the quarter increased 2.2%.

Net income in the quarter jumped 34.4% to $8.2 million or 14 cents per diluted share compared to $6.1 million or 11 cents per share.
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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