Market Overview

Earnings Roundup

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Best Buy Co Inc (NYSE: BBY) reported a drop in its fiscal first-quarter profit. Best Buy's quarterly profit declined to $158 million, or $0.46 per share, from $212 million, or $0.53 per share, in the year-ago period. On an adjusted basis, Best Buy earned $0.72 per share. Best Buy's revenue rose to $11.61 billion, from $11.37 billion. However, analysts were expecting earnings of $0.59 per share on revenue of $11.50 billion.

AutoZone Inc (NYSE: AZO) posted an increase in its third-quarter profit. AutoZone's domestic same-store sales surged around 4%. AutoZone's quarterly net income surged to $248.6 million, or $6.28 per share, versus $227.4 million, or $5.29 per share, in the year-ago period. Its sales gained 7%to $2.11 billion.

Medtronic Inc (NYSE: MDT) reported a rise in its fiscal fourth-quarter profit. Medtronic's quarterly profit climbed to $991 million, or $0.95 per share, versus $776 million, or $0.73 per share, in the year-earlier period. Its net sales rose to $4.30 billion, from $4.17 billion. Medtronic adjusted quarterly profit came in at $0.99 per share. However, analysts were expecting earnings of $0.98 per share on revenue of $4.23 billion.

Ralph Lauren Corp (NYSE: RL) reported a 29% rise in its fourth-quarter profit. Ralph Lauren's quarterly profit climbed to $94.4 million, or $0.99 per share, versus $73.2 million, or $0.74 per share, in the year-earlier period. Its net revenue gained 13.7% to $1.62 billion. However, analysts were expecting earnings of $0.85 per share on revenue of $1.6 billion. Ralph Lauren also lifted its quarterly dividend to $0.40 per share.

Cracker Barrel Old Country Store Inc (NASDAQ: CBRL) reported better-than-expected third-quarter adjusted earnings. Cracker Barrel lifted its full-year earnings forecast to between $4.35 and $4.45 per share, versus $4.20 to $4.35 per share. However, analysts were expecting earnings of $4.31 per share. Cracker Barrel's quarterly earnings climbed to $19.0 million, or $0.81 per share, versus $15.2 million, or $0.64 per share, in the year-ago period. Excluding charges, Cracker Barrel earned $0.86 per share, versus analysts' estimates of $0.75 per share. Its sales climbed 4.5% to $608.5 million, while comparable store restaurant sales gained 3.1% in the quarter.

Williams-Sonoma Inc (NYSE: WSM) reported a 2.8% drop in its fiscal first-quarter earnings. Williams-Sonoma expects current-quarter earnings of $0.38 to $0.41 per share, on revenue of $850 million to $870 million. However, analysts were expecting earnings of $0.40 per share on revenue of $865 million. For the year, it raised profit forecast to $2.42 to $2.49 per share, from its prior forecast of $2.37 to $2.47 per share. Williams-Sonoma's quarterly profit fell to $30.7 million, from $31.6 million, in the year-ago period. On a per-share basis, Williams-Sonoma's earnings gained to $0.30 from $0.29. Excluding items, Williams-Sonoma earned $0.34 per share. Its revenue climbed 6.1% to $818 million. The company in March had expected earnings of $0.29 to $0.32 per share on revenue of $800 million to $820 million.

Express Inc (NYSE: EXPR) reported a 20% rise in its fiscal first-quarter earnings. Express cut its full-year earnings forecast to $1.79 to $1.89 a share, versus its March view of $1.84 to $1.97 per share. It expects current-quarter earnings of $0.15 to $0.18 per share, versus analysts' estimates of $0.20 per share. Express posted its quarterly profit at $42.1 million, or $0.47 per share, versus $35 million, or $0.39 per share, in the year-ago period. Excluding items, Express earned $0.42 per share. The company in March expected earnings of $0.46 to $0.49 per share. Its sales climbed 6.1% to $496 million, versus analysts' estimates of $503 million.

DSW Inc (NYSE: DSW) posted a profit in the fiscal first quarter. DSW lifted its earnings view for the year by $0.05 per share to $3.25 to $3.40 per share. It expects comparable sales rising 3% to 5%, versus its earlier forecast of 2% to 4%. It also lifted its quarterly dividend by 20% to $0.18 per share. DSW's quarterly profit came in at $39.9 million, or $0.89 per share, versus a year-ago loss of $23.4 million, or $1.74 per share. Excluding special items, DSW earned $0.98 per share. Its sales climbed 11% to $558.6 million. However, analysts were expecting earnings of $0.90 per share on revenue of $548 million.

Tata Communications Ltd (NYSE: TCL) posted a wider consolidated net loss for the fiscal fourth quarter. Tata Communications posted a quarterly consolidated net loss of INR2.61 billion, versus a loss of INR1.57 billion, in the year-ago period. Its total revenue surged 29% to INR39.61 billion from INR30.69 billion.

Vodafone Group PLC (NASDAQ: VOD) reported a 13% drop in its net profit for the year ended March 31. Its net profit declined to GBP6.96 billion, versus GBP7.97 billion, in the year-ago period. Earnings before interest, tax, depreciation and amortization dropped 1.3% to GBP14.48 billion, from GBP14.67 billion, versus analysts' estimates of GBP14.5 billion. Vodafone's annual revenue climbed 1.2% to GBP46.42 billion, versus analysts' estimates of GBP46.2 billion.

Silvermere Energy PLC posted a wider pretax loss for 2011. It posted a 2011 pretax loss of GBP1.4 million, versus a year-ago pretax loss of GBP152,826. Its administration costs for the year came in at GBP786,603, versus GBP152,826 in 2010. Its diluted loss per share came in at 13.7 pence, versus a year-ago loss of 16.9 pence.

China Sunergy Co Ltd (NASDAQ: CSUN) swung to a loss in the first quarter. It also expects to post a net loss in the current quarter. China Sunergy posted a quarterly net loss of $9.5 million, or 71 cents per American Depositary Share (ADS), versus a year-ago profit of $3.5 million, or 27 cents per ADS. Its revenue dropped 59% to $68.5 million.

Posted-In: Earnings RoundupEarnings News Pre-Market Outlook Markets

 

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