11:30 AM New York – Clarcor second quarter net increased. IHS and Jabil Circuit revenue jumped but net declined. Micron Tech net swung to profit. Kroger net rose 9.6% to $481 million. Pier 1 net climbed and lifted earnings guidance. Rite Aid net surged and Steelcase profit climbed.
) dropped 5.1% or $2.77 to $51.40 after the filtration products provider stated total revenue in the second quarter ending on June 1 increased 1% to $287.6 million. Net earnings in the quarter rose 1% to $33.1 million or 66 cents a diluted share compared to $32.9 million or 65 cents.
Operating profit in the quarter increased 1% to $49.4 million.
For the year, the company expects diluted earnings per share in the range of $2.45 to $2.55.
) surged 12.1% or $1.77 to $16.28 after the networking products provider reported revenues in the second quarter ending in May rose 5% to $232 million. In the quarter net swung to profit $0.27 million or break even share compared to net loss $6.20 million or 7 cents.
For the third quarter, the company expects revenues in the range of $230 million to $245 million and non-GAAP earnings per diluted share between 14 cents and 18 cents.
) declined 4.6% or $4.92 to $102.88 after the insight information provider said revenue in the second quarter ending in May jumped 8% to $418 million. Net income in the quarter declined 3% to $42.9 million or 65 cents a diluted share compared to $44.2 million or 66 cents.
For the year, IHS expects revenue between $1.66 billion and $1.73 billion and adjusted EBITDA in a range of $540 million to $582 million and Adjusted diluted earnings per share between $4.23 and $4.43.
Jabil Circuit, Inc.
) rose 6 cents to $19.88 after the electronic chip maker stated total revenues in the third quarter ending in May grew 5% to $4.5 billion. Net income in the quarter plunged 51% to $49.6 million or 24 cents a diluted share compared to $101.6 million or 48 cents.
The diversified manufacturing revenue in the quarter increased to $1.8 billion and enterprise and infrastructure revenue was at $1.4 billion and high velocity sector revenue was at $1.3 billion.
For the fourth quarter, Jabil Circuit expects net revenue in the range of $4.45 billion to $4.65 billion and GAAP diluted earnings per share between 4 cents and 12 cents.
Methode Electronics, Inc.
) gained 1.6% or 24 cents to $14.78 after the electronic components maker reported net sales in the fourth quarter ending on April 27 climbed 17.4% to $148.4 million. Net income in the quarter surged 75.9% to $10.2 million or 27 cents a diluted share compared to $5.8 million or 15 cents.
Micron Technology, Inc.
) slipped 1.7% or 24 cents to $13.73 after the device maker said total revenue in the third quarter ending on May 30 advanced 8% to $2.32 billion. In the quarter net swung to profit $43 million or 4 cents a diluted share compared to net loss $320 million or 32 cents.
Gross margin in the quarter surged 138% to $556 million.
The Kroger Co
) dropped 4.9% or $1.72 to $33.40 after the supermarket operator reported total sales in the first quarter ending on May 25 grew 3.4% to $30 billion. Net earnings for the quarter jumped 9.6% to $481 million or 92 per diluted share compared to $439 million or 78 cents.
For the quarter, FIFO gross margin of sales was 20.65% and LIFO charge $17 million.
The company lifted its net earnings guidance for the year and now expects between $2.73 and $2.80 per diluted share.
Pier 1 Imports, Inc
) fell 3.9% or 93 cents to $23.06 after the home furnishings retailer said total sales in the first quarter ending on June 1 jumped 9.3% to $394.9 million. Comparable store sales for the quarter climbed 5.9%
Net income for the quarter climbed 14% to $20.3 million or 19 per diluted share compared to $17.8 million or 16 cents.
Gross profit as a percentage of sales rose 80 basis points to 42.4% to $167.6 million and operating margin advanced 80 basis points to 8.4%.
The retailer lifted its guidance for fiscal year 2014 and now expects earnings per share in the range of $1.27 to $1.32 from earlier forecast of $1.26 to $1.31. Comparable store sales grow in the mid single-digit range.
Rite Aid Corporation
) plunged 6.1% or 19 cents to $2.92 after the drugstore chain reported revenue in the first quarter ending on June 1 slid 2.7% to $6.3 billion. Same store sales for the quarter dropped 2.5%
Net income for the quarter climbed nearly three-fold to $91 million or 9 per diluted share compared to $30.7 million or 3 cents.
Rite Aid confirmed its fiscal 2014 guidance for sales between $24.9 billion and $25.3 billion and same store sales to range from a decrease of 0.75% to an increase of 0.75%.
Red Hat, Inc.
) gained 1.1% or 52 cents to $46.74 after the software solutions provider reported total revenue in the first quarter ending in May soared 15% to $363 million. Net income in the quarter jumped 8% to $43 million or 21 cents a diluted share compared to $37 million or 19 cents.
The company added operating income in the first quarter climbed 11% to $57 million.
) plummeted 6.7% or $1.01 to $14.14 after the workplace services provider stated total revenue in the first quarter ending in May grew 1% to $667.1 million. Net income in the quarter flat to $13.2 million or 10 cents a diluted share compared to $13.2 million or 10 cents.
Gross profit in the quarter advanced 7% to $209.7 million and operating income increased 6% to $20.9 million.
For the second quarter, Steelcase expects diluted earnings per share between 22 cents and 26 cents.