Corning Second Quarter Earnings Call
Aug 31, 4:54 PM EDT |
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| Net income fell 4.9% to $489 million on charges related to an asbestos settlement. |
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| The specialty glass and ceramics producer reported a record 46.5% gross margin. Results include a low effective tax rate caused, by a favorable tax ruling in Taiwan, reducing the tax expense by $17 million. The Environmental Technologies segment had sales of $191 million, a 26% increase, fueled primarily by the continued ramp of heavy-duty diesel products and stronger automotive product sales in the European market. Q3 sales are expected to be in the range of $1.525 billion to $1.575 billion. |
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Del Monte Foods First Quarter Earnings Call
Aug 31, 3:59 PM EDT |
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| Profit fell 44% to $3.5 million from $6.2 million a year earlier, as higher sales were offset by increasing costs. |
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| The Del Monte Foods, producer and distributor of branded food and pet products reported revenue increase of 12% to $753.5 million, driven by strong volume growth and net pricing, partially offset by the volume loss associated with price increases. Selling, general and administrative costs also rose 14% to $141.2 million. The cost of fish, grains, fats and oil has increased due to higher demand for alternative fuels. For Q2, the company predicts earnings of 13 cents to 17 cents per share. |
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Talbots Second Quarter Earnings Call
Aug 31, 1:23 PM EDT |
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| Loss widened to $13.3 million, hurt by weak sales and costs related to acquisition of the J. Jill chain. |
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| Tabots reported revenue of $572.3 million compared with $571.4 million last year, exceeding analysts’ expectations of $574 million. Same-store sales fell 4.8%, including a 4.9% drop at Talbots and a 4.3% decline at J.Jill. There was weak customer response for spring and summer merchandise at both of its brands and shoppers spent less per transaction. The company forecast full-year profit of 27 cents to 33 cents a share as it plans a new marketing campaign to spur demand. |
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Abercrombie & Fitch Second Quarter Earnings Call
Aug 31, 8:12 AM EDT |
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| Profit increased 24% to $81.3 million as a larger number of stores helped offset weakened sales at older outlets. |
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| The company revenue increase of 22% to $804.5 million, above analysts'' average estimate of $772.01 million. The increase was due to mostly because of new-store openings. In March, the company opened its first store outside of North America in London and has since announced plans for a store in Tokyo. Higher mark-downs on slow-selling products pressured profit margins, but they were partially offset by higher initial mark-ups. For 2007, EPS forecast is $5.16 to $5.20. |
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Limited Brands Second Quarter Earnings Call
Aug 31, 6:18 AM EDT |
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| Profit increased to $264.4 million, helped by a $304 million gain from the sale of Express apparel business. |
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| Limited Brands reported revenue increase of 7% to $2.62 billion, while same-store sales rose 2%. In July, Limited Brands transferred 75% ownership of Limited Stores chain to buyout firm Sun Capital Partners Inc. The company let go of 370 employees in New York, Columbus and a handful of other U.S. and international locations as part of a plan to cut $100 million in expenses. For 2007 capital expenditures are expected to be $765 million to $790 million, down $25 million from a prior forecast. |
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Men's Wearhouse Second Quarter Earnings Call
Aug 31, 2:56 AM EDT |
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| Profit increased 52%, driven by the acquisition of formalwear retailer After Hours. |
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| Men’s Wearhouse reported revenue increase of 24% to $569.3 million, helped by 4% increase in apparel sales and the tripling of the company''s tuxedo rental revenue, helped by the After Hours acquisition. Excluding After Hours, tuxedo rental sales increased 16%. Same-store sales for the company''s U.S.-based stores increased 1%, helped by the growth of the company''s tuxedo rental business. For Q3, the company expects earnings per share in the range of 70 cents to 73 cents. |
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Pacific Sunwear of California Second Quarter Earnings Call
Aug 30, 12:52 PM EDT |
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| The company reported a loss of $10.5 million on hefty charges that offset a nearly 10% increase in sales. |
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| The specialty retailer of apparel and footwear catering to teens and young adults reported a loss 15 cents per share compared to profit 14 cents per share a year earlier. Excluding one-time costs to close demonstration stores and impairment charges at other stores, Pacific Sunwear had net income of $4.8 million, or 7 cents per share. Same-store sales rose 1.8%. Q3 earnings are expected to be between 10 cents and 13 cents a share, assuming a 300 to 350 basis point improvement in gross margin. |
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Marvell Technology Group Second Quarter Earnings Call
Aug 29, 11:59 AM EDT |
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| The company reported a loss of $56.5 million as heavy charges offset a boost in revenue. |
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| The semiconductor firm’s revenue increased 14% to $656.7 million, exceeding expectations of $645.5 million. Revenue increase was due to strong sales of communications and applications processors and wireless LAN products. The results included charges totaling $96.2 million, which includes stock-based compensation costs and amortization of acquired assets expenses. In Q3, the company expects gross margin to be over 48% as a result of an increased mix of consumer products and PXA products. |
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American Eagle Outfitters Second Quarter Earnings Call
Aug 29, 9:02 AM EDT |
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| Profit increased 13% to $81.3 million due to strong sales growth. |
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| The company reported revenue increase of 17% to $703.2 million, exceeding analysts’ expectations of $697.8 million. Merchandise margins declined 50 basis points as a result of higher markdowns, which were partially offset by a strong initial mark-up. Store traffic was hurt by later back-to-school starting dates around the US, as well as Florida and Texas shifting tax-free sales days from July to August. Q3 earnings guidance is of 47 cents a share to 48 cents a share. |
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Chesapeake Energy Second Quarter Earnings Call
Aug 23, 9:42 AM EDT |
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| Profit rose 48 to $518.1 million, drive by an increase in natural gas production. |
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| Chesapeake’s revenue increased 33% to $2.10 billion, exceeding analysts’ expectations of $1.63 billion. Profit included an unrealized gain of $98.5 million from marking oil, natural gas and interest rate hedges to market and a $51.3 million gain from selling its investment in Eagle Energy Partners I, L.P. Production averaged 1.868 billion cubic feet of natural gas equivalent a day, up 19% from the year earlier period. Total production is expected to rise between 18% and 22% in 2007. |
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