1:10 PM New York – Alere said net loss in the quarter widened. Bob Evans net surged on the sale of restaurant unit. CSW Industrials net soared 42%. Jabil Circuit net swung to a loss. Kroger tumbled after profit declined 56% and the retailer lowered earnings forecast.
Tollbooth Index slipped 112.78 or 0.9% to 12,034.56.
) rose 20 cents to $50.15 after the diagnostics products maker reported total revenues in the first-quarter ending in March edged up 0.2% from a year ago to $588 million.
Net loss in the quarter widened to $69.6 million or 80 cents per diluted share from $11.4 million or 13 cents in the same quarter last year.
On June 8, Alere was informed by the U.S. Department of Justice that it is closing the investigation of the operations at its pain management laboratory in Austin, Texas without taking any action against the company.
Bob Evans Farms Inc
) declined 5.4% or $3.91 to $68.15 after the frozen food producer said total net sales in the fourth-quarter ending on April 28 dropped 9.3% from a year ago to $313.4 million.
Net income in the quarter surged to $108.9 million or $5.39 per diluted share from $0.6 million or 3 cents in the same quarter last year.
The refrigerated food products distributor said growth in the profit primarily reflects a $155.7 million gain on the sell the operations of Bob Evans Restaurants.
CSW Industrials Inc
) slumped 2.9% or $1.15 to $38.65 after the diversified industrial products maker stated revenues in the fourth-quarter ending in March advanced 14.5% from a year ago to $87.3 million.
Net income in the quarter soared 42.1% to $2.7 million or 17 cents per diluted share from $1.9 million or 12 cents in the same quarter last year.
Jabil Inc., formerly Jabil Circuit, Inc.
) dropped 2.5% or 78 cents to $29.85 after the electronic chip maker said net revenues in the third-quarter ending in May increased 4.2% from a year ago to $4.5 billion.
Net in the quarter swung to a loss of $25.3 million or 14 cents per diluted share from profit of $5.2 million or 3 cents in the same quarter last year.
Jabil Circuit forecasted fiscal fourth-quarter revenues in the range of $4.7 billion to $5.1 billion and operating profit between $95 million and $165 million and diluted earnings per share in the range of 13 cents to 48 cents.
The Kroger Co
) tumbled 18.7% or $5.63 to $24.60 after the largest independent grocery store chain reported sales in the first-quarter ending on May 20 jumped 4.9% from a year ago to $36.3 billion.
Net income in the quarter plunged 56.4% to $303 million or 32 cents per diluted share from $696 million or 71 cents in the same quarter last year.
Kroger lowered fiscal 2017 diluted earnings per share forecast in the range of $1.74 to $1.79 from the earlier estimated range of $2.21 to $2.25.
This assumes an $80 million inventory charge compared to its original estimate of $25 million.
In 2017, the grocery chain reaffirmed its capital investment plan in the range of $3.2 billion to $3.5 billion.
Over the long term, Kroger said it is committed to achieve net diluted earnings per share increase in the range of 8% to 11%.