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Earnings Analysis: 
CBRL Group Posts 25% Lower Profit
Author: 123jump.com Staff
123jump.com
Last Update: 3:02 PM EST November 21 2006



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CBRL Group first-quarter profit declined 25% due in large part to a higher interest expense. Avis Budget Group posted a loss for the third quarter due to incurring substantial charges related to the breakup of company’s parent, the former conglomerate Cendant. Mothers Work narrowed its fourth-quarter net loss as sales rose 5.6% and same-store sales rose 6.5%.

 
CBRL Group Inc. (CBRL: chart), restaurant chain operator, said that its first-quarter net income declined to $19.4 million, or 57 cents per share, compared with $25.7 million, or 51 cents per share, earned in the same period during the same period a year earlier. Revenue jumped 4.3%, reaching $558.3 million, with comparable-restaurant sales for Cracker Barrel Old Country Store up 1.4%, versus $535.5 million a year ago.

Mothers Work Inc. (MWRK: chart), maternity apparel retailer, said that its fourth-quarter loss shrunk to $602,000, or 11 cents per share, compared with $5.3 million, or $1.01 per share, in the year-earlier period. Revenue rose to $142.8 million from $135.2 million a year ago, reflected by same-store sales, a key measure of retailing performance.

Avis Budget Group, Inc. (CAR: chart), car rental company, posted that it swung to a third-quarter net loss of $1.01 billion, or $10.07 per share, versus a profit of $499 million, or $4.72 per share in the year-ago period, due to $480 million of charges related to the spin-offs of Realogy Corp. and Wyndham Worldwide Corp. and a net loss of $634 million on the disposal of discontinued operations. Revenue climbed 1.2% to $1.56 billion in the same quarter a year earlier.

Israel''s Ituran Location & Control Ltd. (ITRN: chart), location-based recovery and tracking services provider, said that its third-quarter net income increased to $4.9 million, or 21 cents per share, compared with $3.6 million, or 19 cents per share, earned in the same period a year ago. Quarterly revenue climbed to $26 million, up 13.5% from nearly $23 million a year earlier.

Tech Data Corp. (TECD: chart), computer products distributor, said that its third-quarter earnings decreased to $32.1 million, or 18 cents per share, compared with $42.5 million, or 40 cents per share, a year earlier. Revenue rose to $5.43 billion from last year''s $5.07 billion.

GameStop Corp. (GME: chart), new and used video games retailer, said that its third-quarter net earnings rose to a profit of $13.6 million, or 17 cents per share compared with a posted net loss of $2.46 million, or 4 cents per share in the year-ago quarter. Revenue jumped to $1.01 billion from $534.2 million in the third quarter last year. Third-quarter same-store sales increased 8.8% from last year.

Deere & Co. (DE: chart), agricultural equipment producer, said that its fourth-quarter net income rose 19% on 3% higher revenue. Quarterly earnings reached $277 million, or $1.20 per share, from $233 million, or 96 cents per share, in the year-earlier period. Earnings from continuing operations, which exclude the company''s discontinued health-care business, were $1.20 versus 91 cents. Revenue reached $5.12 billion from $4.99 billion a year ago.

Signet Group Plc. (SIG: chart), retail jeweler, said that its third-quarter loss widened to 14.9 million pounds ($28 million) from 11.6 million pounds, hurt by foreign exchange movements. Revenue jumped 23% to 328 million pounds in the same quarter a year ago. U.S. same-store sales rose 6.5% while U.K. same-store sales were up 3% in the quarter.

Genesco Inc. (GCO: chart), footwear and accessories chains operator, reported third-quarter net income of $15.6 million, or 62 cents per share compared to $16.1 million, or 61 cents per share a year ago. Revenue jumped to $364.3 million compared to $316.3 million a year ago.

Eaton Vance Corp. (EV: chart), investment management firm, reported fourth-quarter net income of $38.5 million, or 29 cents per share, compared with $37.7 million, or 27 cents per share in the prior year. The company said that quarterly earnings were reduced by 6 cents per share on expenses related to the early retirement of long-term debt. Fourth-quarter revenue jumped to $227.3 million versus $198.1 million a year earlier.

Dollar Tree Stores Inc. (DLTR: chart), discount retail chain, reported 4.5% higher third-quarter profit due to a better mix of merchandise. The quarterly net earnings were $32.5 million, or 32 cents per share, versus $31.1 million, or 29 cents per share in last year quarter. Revenue climbed 14.3% to $910.4 million from $796.8 million a year ago. Sales at stores open longer than a year were higher by 4%.
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