Perry Ellis International, Inc. (
PERY: chart) announced Friday a 46% rise in its quarterly earnings, helped by the acquisition of Salant Corporation in June 2003 and strong results in its men's apparel division. The apparel company posted a net profit of $8.2 million, or 89 cents per share, for the first quarter of fiscal 2004 ended April 30, compared with a net profit of $5.6 million, or 80 cents per share, in the prior-year period. Miami, Florida-based Perry Ellis delivered record first-quarter revenue of $197 million, up 82% from $108 million, in the same quarter a year earlier.
Company shares rose 3.30% to $25.07 at market close Friday.
Urecoats Industries Inc. (
URT: chart) of Deerfield Beach, Florida, posted after the bell Friday a narrower quarterly loss as the company cut operating expenses by $890,000. The maker of specialty sealant and coating products for the construction industry reported a net loss of $1.69 million, or 6 cents per share, for its fiscal 2004 first quarter, in contrast to a net loss of $2.1 million, or 16 cents per share, in the comparable period of 2003. For the quarter ended March 31, the company said it had revenue of $650,000, down from $1.0 million, last year.
The stock surged 9.09% on Friday to $1.80.
Rothmans Inc. ((ROC.TO)) reported before the bell Friday a drop in its quarterly profits, hurt by weaker sales. The Toronto, Canada-based tobacco company said it earned C$17.2 million ($12.6 million), or 51 Canadian cents a share, in its fourth quarter, down from net earnings of C$20.9 million, or 62 Canadian cents a share, in the year-ago equivalent. Quarterly revenues were down to C$137.6 million from C$145.5 million, last year.
Rothmans shares added 1 Canadian cent on Friday to close at C$32.99 on the Toronto Stock Exchange.
Tomkins PLC (
TKS: chart) on Friday turned in a first-quarter operating profit before items of £69 million ($122 million), a 2.4% increase from an operating profit of £67.4 million, in the 2003 corresponding period. Analysts had expected the U.K. engineering group to earn £66.2 million. The company cited its reorganisation plan and higher prices as main factors for the improvement.
The stock closed Friday up 6 cents, or 0.32%, at $18.60.
FPL Group, Inc. (
FPL: chart) of Juno Beach, Florida, reiterated Friday its earnings guidance for fiscal year 2004. The utility holding company said that it still sees earnings, excluding special items, of $4.95 to $5.20 a share, in 2004. On average, analysts had forecast a 2004 profit of $5.07 per share.
FPL shares inched down 3 cents to $61.40 at market close Friday.