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Earnings Analysis: 
Borders Loss, J Crew Earnings Fall
Author: 123jump.com Staff
123jump.com
Last Update: 8:57 AM ET August 28 2008


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The Bank of Nova Scotia, a financial institution third quarter revenues rose 3% to $3.4 billion and net income grew 3% to $1.01 billion or 98 cents a share. Borders Group, Inc second-largest U.S. bookseller second quarter revenues fell 7% to $749.2 million and net loss was $11.3 million or 19 cents a share. J. Crew Group, Inc apparel retailer second quarter revenues rose 10% to $242.3 million and net income fell 12% to $18.1 million or 28 cents a share.

 
10:00AM New York – The Bank of Nova Scotia revenue rose 3% and earnings gained 3%. Borders Group, Inc revenue fell 7% and net loss was $11.3 million. Kewaunee Scientific Corporation sales rose 22% and net income increased 46%.

The Bank of Nova Scotia, a financial institution, active in both Canadian and international markets said third quarter revenues rose 3% to $3.4 billion from $3.3 billion a year ago. Net income in the quarter grew 3% to $1.01 billion or 98 cents per diluted share compared to net income of$1.03 billion or $1.02 per share, a year ago.

The Bank of Nova Scotia (BNS: chart) in the last one year traded as high as $57.15 in November 2007 and as low as $47.16 in March 2008. Based on the yesterday’s closing price the company has a market cap of $43.80 billion.

Borders Group, Inc, the second-largest U.S. bookseller said second quarter revenues fell 7% to $749.2 million from $804.6 million a year ago. Net loss in the quarter was $11.3 million or 19 cents per diluted share compared to net loss of $18.1 million or 31 cents per share, a year ago.

Comparable store sales for the second quarter decreased 8.9%.

Borders Group, Inc (BGP: chart) in the last one year traded as high as $16.62 in October 2007 and as low as $3.87 in July 2008. Based on the yesterday’s closing price the company has a market cap of $324.32 million.

J. Crew Group, Inc, apparel retailer said second quarter revenues rose 10% to $242.3 million from $219.6 million a year ago. Net income in the quarter fell 12% to $18.1 million or 28 cents per diluted share compared to net income of $20.6 million or 32 cents per share, a year ago.

Comparable same-store sales fell 0.4%.

J. Crew Group, Inc (JCG: chart) in the last one year traded as high as $52.44 in December 2007 and as low as $24.37 in August 2008. Based on the yesterday’s closing price the company has a market cap of $1.66 billion.

Kewaunee Scientific Corporation, laboratory furniture products said first quarter sales rose 22% to $25.4 million from $20.84 million a year ago. Net income in the quarter increased 46% to $981,000 or 38 cents per diluted share compared to net income of $674,000 or 27 cents per share, a year ago.

Kewaunee Scientific Corporation (KEQU: chart) in the last one year traded as high as $20.73 in December 2007 and as low as $9.73 in July 2008. Based on the yesterday’s closing price the company has a market cap of $31.90 million.
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