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Earnings Analysis: 
Cost Plus Reports Third-Quarter Net Matching Estimate
Author: Ivaylo Dagnev
123jump.com
Last Update: 9:31 AM EST November 18 2005



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Cost Plus Inc., off-price retailer, reported a Q3 loss of 12 cents a share, down from a profit of a penny a share a year-ago, in line with analyst estimate of a loss of 12 cents a share.

 
Cost Plus’, (CPWM: chart), sales rose 5.4% in Q3 compared to the same period a year ago and same-store sales dropped 4.7%. The company said the results were due to weak customer traffic and its decision not to repeat a promotion that took place in the year-ago period. Cost Plus envisages earnings of 98 cents to $1.08 a share in Q4, topping estimate of $1.06 a share.

Infineon Technologies AG, (IFX: chart), German chipmaker, reversed to a Q4 net loss of 14 euro cents a share, down vs. a net profit of 6 euro cents a share in the year-ago period after booking 64 million euros in charges for the phase-out of its Munich-Perlach plant and impairment charges in its communications business. Sales dropped 13% to 1.73 billion euros but advanced 8% sequentially.

Ann Taylor Stores Corp, (ANN: chart), apparel retailer, announced that Q3 net profit more than doubled to 42 cents a share, from the same period last year, topping analyst forecast for earnings of 37 cents a share. Sales jumped 11.6% and same-store sales were up 0.2%.

Starbucks,(SBUX: chart), high-quality whole bean coffee producer, reported Q4 net earnings of 16 cents a share, up 21% from the 13 cents a share in the year-earlier period on 23% revenue growth and a penny ahead of analyst estimate.

Nordstrom Inc, (JWN: chart), retailer, reported that its Q3 profit advanced 38% to 39 cents a share, up from 27 cents a share a year ago on higher sales, beating analyst estimate of 35 cents a share. In Q4, Nordstrom expects earnings in the range of 60-65 cents a share, on same-store sales growth in a low single-digit percentage range.

Sports Authority Inc., (TSA: chart), retailer, swung in Q3 to net earnings of 13 cents a share, up from a net loss of 11 cents a share in the year-ago period on revenue growth and a 1.2% same-store sales increase.. The company stated it is comfortable with analysts'' estimate for Q4 earnings of $1.07 a share, and forecast Q4 revenue of $730 million to $740 million.

H&R Block Inc., (HRB: chart), financial services provider, reported a Q2 loss of 22 cents a share, down vs. a loss of 15 cents a share, in the same period a year ago. The company reduced its 2006 profit target after competition and rising rates in the mortgage market crimped the performance of the tax preparation company''s home-loan business.

Autodesk Inc., (ADSK: chart), software company, announced that Q3 profit soared 28% to 38 cents a share, up from 30 cents a share in the year-ago period on 26% revenue growth, reflecting strong demand across its product lines and markets. Outside a tax benefit, the company would have gained 31 cents a share, beating analyst expectations by a penny.

Barnes & Noble Inc., (BKS: chart), bookseller, posted Q3 net income of zero cents a share, down from 11 cents a share in the year-earlier period, beating analysts’ forecasts of a net loss of 2 cents a share. Sales advanced 4%.

BEA Systems Inc., (BEAS: chart), software maker, reported net income of 9 cents a share, a penny up vs. 8 cents a share for the same period a year ago. If not for one-time charges, earnings would have been 11 cents a share, topping on that basis analysts’ expectations by a penny.

Hewlett-Packard Co., (HPQ: chart), provider of solutions for individual consumers, posted a Q4 profit of 14 cents a share, down from 37 cents a share in the year-ago period. If not for $1.57 billion in restructuring charges, H-P would have earned 51 cents a share, thus beating analyst estimate of 46 cents a share.

Foot Locker Inc., (FL: chart), retailer, posted Q3 net earnings of 42 cents a share, down 12% from 47 cents a share in the same period last year on revenue and same-store sales growth, missing the analyst forecasts by a penny. The company expects Q4 income from continuing operations in a range of 53 cents to 61 cents a share, and for same-store sales growth in the low-to-mid single-digit range.
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