Earnings: ChinaEdu, Smart Modular, Luby's, Worldspace
Mar 22, 12:59 AM EDT |
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| Luby's operator of 122 restaurants in Texas and other states reported same store sales fell 1.6% as customers cut spending in the second quarter. |
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| ChineEdu fourth quarter revenue increased 37.6% and net income in the quarter rose 220%. Total revenue in fiscal year increased 24% but net income decreased 90%. Home-style cooking restaurant chain Luby''s reported revenue in the second quarter fell 1% and net income per share plunged 85%. Worldspace, digital radio services provider, fourth quarter revenue plunged and losses soared. |
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Worthington Earnings Soar
Mar 22, 12:27 AM EDT |
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| Worthington repurchased 2.27 million shares in the quarter and paid out $13.9 million in dividend. |
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| Wothington Industries Inc, a diversified steel processor with a market of $1 billion, reported third quarter revenue increase of 7% to $725.7 million, earnings surge of 245% to $18.3 million and earnings per share increased 283% to 23 cent. For the nine months, sales increaesed 1% and earnings declined 30% and earnings per share 27%. |
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Carnival Lowers Guidance, Rising Fuel Costs
Mar 21, 6:06 PM EDT |
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| Carnival managed to carry 1.9 million passengers in the first fiscal 2008 quarter, 150,000 more than a year ago, despite economic slow down. |
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| Carnival Corp, the largest cruise liner reported first quarter 2008 revenue increase of 17% to $3.15 billion and net income decline of 17% to $236 million. Earnings per share declined to 30 cents compared to 35 cents a year ago. Carnival lowered its earnings guidance to between 42 cents and 44 cents from 48 cents in the second quarter. Higher fuel costs are taking a big bite out of the rising berth yields on weak dollar. |
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China Mobile Earnings Up 32%
Mar 21, 12:04 AM EDT |
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| China Mobile reported 2007 revenue rise of 21% and earnings gain of 32% as it adds new subscribers in rural China. |
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| The largest mobile phone carrier in the world reported 21% increase in revenue to Rmb 356 billion ($50 billion) after it added 5.7 million new subscribers a month in 2007. The company increased its market share to 69% in 2007 from 68% in 2006 as it added subscribers in the rural area. Monthly churn rate in 2007 fell to 2.64% from 2.73% in 2006. China Mobile plans to spend Rmb 127 billion in network infrastructure in 2008 and Rmb 119 billion in 2009. China Mobile has 384 million subscribers. |
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Morgan Stanley Net Falls
Mar 19, 4:49 PM EDT |
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| Morgan Stanley stock rose 5% after it reported lower earnings but beat the analysts estimates. |
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| Morgan Stanley reported revenue decline of 17% to $8.3 billion and earnings fall of 35% to $1.55 billion. Earnings per share declined to $1.45 from $2.17 in the first quarter of previous fiscal year. In the quarter Morgan wrote down $1.1 billion of sub-prime loans. Asset management group reported 5% increase in assets to $722 billion. Average broker at Morgan had $85 million of client assets and generated $761,000 in commissions. |
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Goldman Sachs Earnings Lift Stocks
Mar 18, 12:40 AM EDT |
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| Goldman Sachs reported lower revenue and earnings but still beat the expectations set by analysts. Higher fund flows to asset managements helped. |
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| Goldman Sachs reported first quarter revenue decline of 35% to $8.34 billion and net income fell 53% to $1.47 billion. Weaknesses were in investment banking and trading gains using its own capital. Asset management and trading execution revenue edged higher on rising net fund flows. |
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Lehman Net Declines 57%
Mar 18, 12:40 AM EDT |
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| Lehman asserted that it has $34 billion in liquid pool of assets, $64 billion in unencumbered assets and $99 billion at regulated entities. |
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| Lehman Brothers reported a decline in revenue of 31% to $3.5 billion and net income fall of 57% to $489 million. Earnings per share declined to 81 cents from $1.96 a year ago. Steady rise in asset management, equity offering fees and prime brokerage services helped the bank to overcome losses in fixed income related revenues. Lehman has been a subject of intense speculation in the last few days after a sudden demise of Bear Stearns as it lacked liquidity. |
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Superior Well Earnings Down 28%
Mar 13, 12:17 AM EDT |
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| Superior Well Services reported a drop in in earnings in the fourth quarter on the rising revenue from the well services. |
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| Superior Well Services reported fourth quarter revenue increased 26% to $94.9 million and net income fell 28% $7 million. For the year 2007 revenue increased 43% to $350.8 million and earnings increased 19% to $37.8 million. Superior stock in the last 52 weeks has traded between $17 and $28. |
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Earnings: Global Source, IDT, Princeton Review
Mar 12, 12:05 AM EDT |
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| Global Source rebounded after it reported a decline in earnings. IDT fell 30% after it reported wider loss than a year ago. |
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| Global Source, B2B media company in China, revenue rose 16% to $60.8 million and net income declined 50% to $8.1 million. IDT Corp revenue in the fourth quarter declined 6% to $476 million. The Princeton Review revenue in the fourth quarter rose 7%. |
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Earnings: J Crew, Payless, Stage Stores
Mar 12, 11:36 PM EDT |
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| Retailers reported declining sales and earnings in the fourth quarter. Collective Brands, J Crew and Stage Stores sales and earnings declined. |
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| Collective Brands, operator of Payless ShoeSource reported fourth quarter loss of $46.6 million compared to a profit of $24.6 million. J Crew apparel retailer reported net income of $25 million compared to $44 million a year ago. Stage Stores reported fourth quarter sales declined 4% to $473 million. |
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