Sysco Corp. (
SYY: chart), a food-service distributor based in Houston, Texas, said earnings in the second quarter were 37 cents a share, up from 31 cents in the year-ago period and two cents above analyst expectations at First Call. Revenue jumped 10.5 percent to $6.97 billion, helped by new technology systems.
Pacific Sunwear of California Inc. (
PSUN: chart), a teen-oriented clothing retailer based in Anaheim, California, posted second-quarter earnings of 26 cents a share, up 84 percent from 15 cents a share in the same period last year, due to a trend in surf-inspired fashion. Revenue rose 23 percent to $234.4 million.
Kia Motors Corp., an affiliate of Hyundai Motor Co. and South Korea’s second largest automobile maker, said net profit in the first half of the year climbed 17 percent to 328.0 billion won ($278.2 million) due to strong sales in Europe. Revenue grew 14 percent to 6.42 trillion won.
Valspar Corp. (
VAL: chart), a chemical company based in Minneapolis, said earnings in the third quarter jumped to 77 cents a share from 74 cents a year earlier, due to its packaging and architectural coatings product lines. Revenue rose four percent to $598.2 million.
Xybernaut Corp. (
XYBR: chart), a mobile computing technology company based in Fairfax, Virginia, posted a second-quarter loss of two cents a share, compared with the year-ago loss of 10 cents a share. Revenue rose 40 percent to $2.8 million due to cost cuts.
CommScope Inc. (
CTV: chart), a maker of broadband coaxial cable based in Hickory, North Carolina, reported a second-quarter net loss of 87 cents a share, compared with 69 cents in the year-ago quarter. Excluding items, the company earned four cents a share due to a gross margin increase. Revenue fell 8.8 percent to $141.4 million on weak demand for broadband and video products.
Martha Stewart Living Omnimedia Inc. (
MSO: chart), a home products seller and media company, reported income of two cents a share in the second quarter, down from 14 cents in the same period last year. Revenue fell 16 percent to $65.8 million. The results exceeded analyst forecasts for a loss of 4 cents a share and revenue of $60.9 million.
The New York company warned that due to legal matters it expects to post a loss of 18 to 20 cents a share for the year.
New York-based life insurer
MetLife Inc. (
MET: chart) adjusted its previously announced second-quarter earnings downward by $31 million after improperly deferred expenses at the New England Financial unit. The adjustment changes net earnings to 79 cents a share, from a previous 84 cents a share.
Axa SA, Europe's second-biggest insurer based in Paris, reported a 75 percent decline in first-half profit, hurt by losses on equity investments and the rise of the euro against the dollar. Net income fell to 209 million euros ($237 million) from 837 million euros a year earlier.
Real estate investment trust
Weingarten Realty Investors (
WRI: chart) said second-quarter funds from operations climbed to 85 cents a share, from 81 cents in the year-ago period and in line with the average analyst forecast at First Call. Revenue rose 14 percent to $103 million, topping analyst forecasts of $98.5 million.
Results were boosted by acquisitions and new development projects, as well as increased rental revenue.