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Market Update

BlackBerry Net Swings to Profit; Finish Line, GameStop Drop


Author: Mukesh Buch
ticker.com
Last Update: 12:56 PM ET March 27 2015

12:50 PM New York BlackBerry net swung to profit but revenues declined 32%. Finish Line profit declined 5% while revenues climbed 6%.GameStop profit surged 11% but sales dropped 6%. Restoration Hardware net climbed 60% on 24% increase in revenues.

Tollbooth Index slid 0.02% or 1.82 to 10,414.32.

Earnings Review

BlackBerry Ltd (BBRY) jumped 3% or 29 cents to $9.59 after the Canada-based mobile phone maker reported revenues in the fourth-quarter ending in February plunged 32.4% to $660 million from a year ago period.

Net in the quarter swung to a profit $28 million compared to a loss of $423 million and diluted earnings per share swung to 5 cents from a diluted loss per share of 80 cents.

Finish Line Inc (FIVE) slipped 1.7% or 55 cents to $23.69 after the athletic footwear, apparel and accessories retailer said net sales in the fourth-quarter ending in February climbed 6.3% to $551.3 million from a year ago period.

Comparable store sales in the quarter jumped 2.6%.

Net income in the quarter declined 5.1% to $40.8 million compared to $43 million and diluted earnings per share were flat at 87 cents from the same quarter last year.

GameStop Corp (GME) decreased 1.5% or 60 cents to $38.19 after the consumer electronics and wireless services retailer reported totalsales in the fourth-quarter ending in January dropped 5.6% to $3.48 billion from a year ago period.

Comparable store sales in the quarter slipped 1.8%.

Net income in the quarter surged 10.7% to $244.1 million or $2.23 per diluted share compared to $220.5 million or $1.89 from the same quarter last year.

GameStop forecasted comparable store sales for the first-quarter to increase in the range of 2.5% to 5.5% and net income between $58 million and $65 million and diluted earnings per share to increase between 53 cents to 60 cents.

Restoration Hardware Holdings Inc (RH) increased 1.5% or $1.45 to $94.59 after the home furnishings retailer said net revenues in the fourth-quarter ending in January surged 24% to $582.7 million from a year ago period.

Comparable brand revenues in the quarter soared 24%.

Net income in the quarter climbed 59.8% to $42.5 million or $1.02 per diluted share compared to $26.6 million or 65 cents from the same quarter last year.

The company forecasted revenues for the fiscal first-quarter in the range of $415 million to $420 million and adjusted diluted earnings per share between 18 cents and 20 cents.

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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