SITE SEARCH | NEWS | EARNINGS | CALENDARS | MUTUAL FUNDS
Sector Tables: Energy - Retail - Utilities - REIT - Banks - Brokerage - ETFs | Oil Data
Login | Subscribe to Ticker

Earnings Analysis: 
Big Lots Profit Jumps on Sales
Author: George Shopov
123jump.com



Email article | Print article

Big Lots, the U.S. top closeout retailer, reported that its fourth-quarter earnings soared 29% from a year earlier, driven by solid growth in sales. Results were well ahead of analysts’ expectations.

 
Big Lots, Inc. (BLI: chart) announced before the bell Wednesday a 29% increase in its quarterly profit, bolstered by rising sales. The U.S. largest closeout retailer said it had net earnings of $85.3 million, or 73 cents per share, in its fiscal 2003 fourth quarter, in contrast to net earnings of $66.2 million, or 57 cents per share, generated in the prior-year period. Excluding items, the company reported earnings from continuing operations of $82.6 million, or 70 cents a share, up from $66.2 million, or 57 cents a share, last year, and ahead of the mean estimate of analysts for a profit of 65 cents a share. Columbus, Ohio-based Big Lots said sales rose to $1.33 billion in the quarter ended January 31, from $1.22 billion a year ago. Same-store sales improved 4.7% in the quarter. For all of 2003, Big Lots rolled out a profit of $81.2 million, or 69 cents a share, on sales of $4.17 billion, compared with $76.5 million, or 66 cents a share, on sales of $3.87 billion, a year earlier.

Company shares closed Wednesday down 38 cents, or 2.57%, at $14.42.

The TJX Companies, Inc. (TJX: chart) of Framingham, Massachusetts, said before market open Wednesday that its fourth-quarter net income soared 55% to $238.7 million, or 47 cents a share, from a year-earlier net income of $154.3 million, or 29 cents a share. The discount apparel and home-goods retailer attributed the results to higher sales, which jumped 17% to $4.11 billion, from $3.51 billion a year earlier. TJX said it also benefited from the weak dollar.

The stock gained 10 cents on Wednesday to $23.78.

Tiffany & Co. (TIF: chart) reported Wednesday that its quarterly earnings rose 24% from last year, driven by solid sales. The New York-based jewelry retailer posted a profit of $110.5 million, or 74 cents per share, for its fourth quarter, compared with earnings of $89.3 million, or 60 cents per share, in the prior-year equivalent. Analysts were looking for earnings of 70 cents per share, on average. Quarterly sales advanced 18% to $731.59 million.

Tiffany shares surged 6.36% to $39.48 at market close Wednesday.

The Men's Wearhouse, Inc. (MW: chart) of Houston, Texas, posted Wednesday fourth-quarter net income of $20.8 million, or 55 cents a share, up 5% from net income of $19.9 million, or 50 cents a share, in the comparable period a year earlier. The retailer said the 5.8% growth in U.S. same-store sales helped boost the results. Total net sales climbed 8% to $422.7 million from $390.1 million, in the year-ago quarter.

The stock rose 2.16% to close Wednesday at $26.00. Company shares gained 83 cents to $26.83 in after-hours trading.

United Rentals, Inc. (URI: chart) announced Wednesday a wider quarterly loss, hurt by restructuring charges. The Greenwich, Connecticut-based equipment rental company said its fourth-quarter net loss was $305.1 million, or $3.96 cents a share, in contrast to a loss of $209.0 million, or $2.33 a share, in the 2002 corresponding period. Fourth-quarter adjusted income came in at 15 cents a share, a penny short of the consensus estimate of analysts.

Company shares plummeted 18.34% on Wednesday to $16.38.

Veritas DGC Inc. (VTS: chart) of Houston, Texas, said Wednesday its second-quarter earnings more than tripled from last year, citing strong demand for its services. The oil services company announced a profit of $14.2 million, or 42 cents a share, for its second quarter, up from a profit of $4.5 million, or 14 cents a share, in the same quarter last year. Revenue rose to $147.8 million from $125.3 million.

The stock edged up 29 cents to close Wednesday at $14.19. Veritas shares surged 6.69% to $15.14 in after-market trade.

Eaton Vance Corp. (EV: chart) reported Wednesday that its first-quarter net profit increased 19% to $30.8 million, or 44 cents per share, from a year-earlier net profit of $25.9 million, or 37 cents per share. The Boston, Massachusetts-based investment services company recorded revenue of $157.0 million in the quarter, a 26% rise from $124.9 million, last year. Eaton Vance said its new closed-end funds and the improved stock prices drove the results.

Company shares closed Wednesday down 15 cents, or 0.40%, at $37.82.

Midway Games Inc. (MWY: chart) of Chicago, Illinois, posted Wednesday a wider quarterly loss as revenue dropped from a year ago, hurt by strong competition. The video game publisher announced a net loss of $28.6 million, or 52 cents per share, for the fourth quarter of fiscal 2003, against a year-earlier net loss of $25 million, or 54 cents per share. Revenue tumbled to $30.1 million from $80.2 million, last year.

The stock shed 12 cents on Wednesday to $5.12. Company shares plunged 9.57% to $4.63 in after-hours trading.

Nordson Corporation (NDSN: chart), the Westlake, Ohio-based maker of precision dispensing equipment, said Wednesday it earned $9.7 million, or 27 cents a share, in the first quarter, up from a profit of $5 million, or 15 cents a share, a year earlier. Results were 3 cents a share higher than the average analysts’ estimate. Nordson said the rise in sales boosted the results.

Nordson shares rose 3.35% to $35.15 at market close Wednesday. The stock added 8 cents to $35.23 in after-market trade.

The Nasdaq Stock Market, Inc. (NDAQ: chart) posted Wednesday a fourth-quarter net loss applicable to common shareholders of $23.5 million, or 30 cents per share, compared with a loss of $2.1 million, or 3 cents per share, in the same period a year earlier. The New York-based electronic stock market said quarterly revenue dropped 23.5% to $138.0 million from $180.3 million, last year.

The stock closed Wednesday unchanged at $9.00.
  1 More: Earnings Archive

 

 
About Us | Contact Us | Privacy Policy | Disclaimer

©1999-2008 123jump.com. All rights reserved