Macy’s First Quarter Earnings Call
May 16, 4:08 AM EDT |
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| The company posted a $59 million loss, reflecting the cost of a companywide restructuring |
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| Sales declined to $5.7 billion from $5.9 billion last year. Operating income included $87 million in division consolidation costs and a $23 million reserve for the potential litigation settlement. The gross margin rate declined by 120 basis points primarily because of a higher level of merchandise clearance. The company repurchased no shares of its common stock. Annual guidance for year-over-year change in comparable store sales remains minus 1% to plus 1.5%. |
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K-Swiss First Quarter Earnings Call
May 16, 4:07 AM EDT |
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| The company posted lower profit of $7.1 million, as rise in international sales couldn't offset a drop in domestic sales and rising costs. |
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| Sales declined 16 % to $102.9 million from $122.6 million last year. Selling, general and administrative costs rose 16% to $42.6 million. Domestic revenue declined 33.6% to $41.4 million, while international sales rose 2.1% to $61.5 million. For the K-Swiss brands, the overall, the average wholesale price per pair increased to $28.65 compared with $27.63 in the prior year period. The company expects revenues for Q2 2008 to be approximately $70 million to $80 million. |
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Deere & Company Second Quarter Earnings Call
May 16, 3:18 AM EDT |
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| Profit increased to $763.5 million as soaring crop prices boosted global demand for agricultural equipment. |
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| Revenue increased 18% to $8.1 billion from $6.88 billion. Equipment sales were below the Deere''s forecast for the April quarter, coming in at 19% growth vs. an expected 23%. Operating profit from Deere''s construction and forestry equipment unit slipped 14% to $166 million as sales declined 7% to $1.35 billion. Deere reaffirmed projections calling for income of $2.2 billion for the full fiscal year on equipment sales growth of 20%. |
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Starbucks Second Quarter Earnings Call
May 15, 5:11 PM EDT |
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| The firm is focusing on re-energizing and sharpening the focus on the brand and business as it takes decisive steps towards transformation. |
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| The coffe maker reported earnings of $108.7 million or 15 cents a share, down 27.9% from $150.8 million or 19 cents a share in 2007, as revenues were up 12% to $2.5 billion, with the softness driven by a decline in U.S. comparable store sales, driven by decreased traffic, which is related to the challenging economic environment. Starbucks has evaluated the business to assess the opportunities to better leverage resources and gain efficiencies in the cost structure. |
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Marchex First Quarter Earnings Call
May 15, 12:35 PM EDT |
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| The company is well positioned to be a leader in the local advertising and search ecosystems, aided by focus on strategic links and product milestones |
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| The online search and advertising company reported revenues of $37 million compared with $34.2 million in the same period last year. The GAAP net loss to common shareholders was $1.2 million or 3 cents per share versus GAAP net income to common shareholders of $548,000 or 1 cent per share for the first quarter of 2007. The management now anticipates full year revenue to be approximately $152 million or more. |
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Erie Indemnity First Quarter Earnings Call
May 15, 12:10 PM EDT |
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| The net operating income per share decreased 9.7% to 78 cents in the first quarter compared to 86 cents per share in last year. |
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| The insurance services company reported that the management fee revenue was 25% in the quarter, flat compared to the prior year. During the quarter, the net income fell by 46.8% to 30 million from $56.4 million in the prior year quarter, driven by net realized losses on investments due to changes in fair value in the firm’s common stock since it adopted FAS-159. In Q1, the realized losses on investments from changes in the fair value of the common stock were $13.7 million. |
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OfficeMax First Quarter Earnings Call
May 15, 4:38 AM EDT |
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| Profit rose to $63.3 million from $58.5 million a year earlier. |
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| Sales declined to $2.3 billion, reflecting the weaker US economy, deliberate focus on profitable sales and the negative impact of the Easter holiday shifting to Q1 2008 from Q2 last year. Bottom line net income increased to $63.3 million or 81 cents per share. Retail operating income was reduced by about $10 million from the 77 stores opened last year due to occupancy and operating costs on lower sales. Capital expenditures for 2008 are expected to total between $200 million and $220 million. |
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FPL Group First Quarter Earnings Call
May 15, 3:55 AM EDT |
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| Earnings rose to $249 million, helped by strong results at its FPL energy unit. |
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| Adjusted earnings were 76 cents a share, up from 70 cents a share a year earlier. FPL Energy’s net income included a net unrealized after-tax loss of $56 million associated with the mark-to-market effect of non-qualifying hedges and OTTI. Customer growth in Florida Power & Light slowed because of economic conditions in Florida, especially those related to the housing market. FPL Group reaffirmed its target for 2008 adjusted earnings of $3.83 to $3.93 a share and $4.15 to $4.35 a share for 2009. |
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Cummins First Quarter Earnings Call
May 15, 3:38 AM EDT |
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| Net profit increased to $190 million as stronger international demand helped offset rising commodity prices. |
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| Sales grew 23% to $3.47 billion. Strong performance in international markets helped offset rising commodity prices and weakness in some U.S. consumer-related markets. Demand was strong for medium-duty truck engines in the U.S. and for commercial generator sets in India, Great Britain, Asia and the Middle East. The company''s joint venture earnings jumped 86%, boosted by emerging markets such as China and India, and by the company''s North American distributors. |
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Las Vegas Sands First Quarter Earnings Call
May 15, 3:07 AM EDT |
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| The company posted a first-quarter net loss of $11.2 million, citing higher operating costs. |
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| Net revenue increased 71.8% to $1.08 billion compared to $628.2 million in Q1 2007. Las Vegas casino revenue rose 24% to $147.8 million, while hotel revenue rose 42% to $136.2 million. Total debt outstanding, including the current portion, was $8.37 billion. Adjusted property EBITDAR for Las Vegas operations increased 9.3% to $122.6 million compared to $112.1 million in the first quarter of 2007. The company''s projected effective tax rate for the full year 2008 is approximately 6.2%. |
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