Astec Industries Inc, (
ASTE: chart), stated that Q4 showed seasonal weakness, but added the work backlog is considerably higher than last year. Astec also made it clear that, during its annual audit, it identified significant internal control deficiencies related to inventory controls and accounting system access controls. Despite the weaknesses, the company remains confident in the reliability of its financial statement.
Overseas Shipholding Group, (
OSG: chart), provider of energy transportation services, reported Q4 earnings of $2.88 a share, down from a profit of $5.35 a share a year-ago. If not for gains on vessel sales and securities transactions, the company earned $2.79 a share in Q4, still missing analyst estimate of $3.63 a share. In addition, the company announced it plans to increase the quarterly dividend by 43% to 25 cents a share, effective with its next payout.
H.J. Heinz Co, (
HNZ: chart), maker of sauces, condiments and packaged foods, reported Q3 net income of 35 cents a share,. down from 43 cents in the same period last year. Quarterly sales shot up 5.7% to nearly $2.19 billion, from $2.07 billion, but gross profit dropped to $780.7 million from $784.7 million. Sales grew 9.4% on a constant-currency basis. Earnings from continuing operations, aside from special items, would have been 50 cents.The company missed analysts view for earnings of 56 cents a share.
Innkeepers USA Trust, (
KPA: chart), real estate investment trust, reported a Q4 breakeven on a per-share basis, up from a loss of 6 cents a share, a year earlier. Funds from operations grew to 21 cents a share from 15 cents a year ago. The company missed analysts’ estimates for earnings of 23 cents a share. Revenue increased to $60.9 million from $50.5 million.
Staples Inc, (
SPLS: chart), office products retailer, reported Q4 earnings of 39 cents a share, up from a profit of 33 cents a share a year-ago on sales and 3% same-store sales growth in Q4, topping analyst estimate by a penny.