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DAILY EARNINGS

Wells Fargo Net Jumps, Synnex Net Declines


Author: Mukesh Buch
ticker.com
Last Update: 10:15 AM ET January 11 2013

10:45 AM New York Hurco fourth quarter net climbed 52%. Synnex third quarter net declined 13% to $43.6 million. Voxx third quarter net soared 48%. Wells Fargo fourth quarter surged 24% to $5.1 billion.

Earnings Review

Hurco Companies, Inc. (HURC), the technology company reported net sales in the fourth quarter ending in October advanced 15% to $56.1 million from $48.6 million in the same period of last year. Net income in the quarter climbed 52% to $4.1 million or 63 cents per diluted share compared to $2.7 million or 41 cents a share a year ago earlier.

KBR, Inc. (KBR), the oil and construction industries service provider lowered its fiscal 2012 earnings per diluted share guidance to a range $1.95 of $2.10 from the earlier guidance of between $2.60 and $2.80.

Synnex Corporation (SNX), the business service provider stated net sales in the third quarter ending on December 1 slipped 3% to $2.77 billion from $2.84 billion in the same period of last year. Net income in the quarter declined 13% to $43.6 million or $1.16 per diluted share compared to $50.2 million or $1.37 a share a year ago period.

The company expects revenue in the fiscal first quarter in the range of $2.38 billion to $2.48 billion and net income between $32.2 million and $33.4 million and diluted earnings per share in the range of 85 cents to 89 cents.

Voxx International Corporation (VOXX), the consumer electronics products maker reported net sales in the third quarter ending in November climbed 17% to $243 million from $206.8 million in the same period of last year. Net income in the quarter soared 48% to $13.2 million or 56 cents per diluted share compared to $8.9 million or 38 cents a share a year ago period.

Wells Fargo & Company (WFC), the holding company reported total revenue in the fourth quarter ending in December jumped 7% to $21.9 billion from $20.6 billion in the same period of last year. Net income in the quarter surged 24% to $5.1 billion or 91 cents per diluted share compared to $4.1 billion or 73 cents a share a year ago.

For the year, total revenue increased 6% to $86.1 billion from $80.9 billion a year ago. Net income for the year jumped 19% to $18.9 billion or $3.36 per diluted share from $15.9 billion or $2.82 per share in the prior year.
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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