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Earnings Analysis: 
Campbell and CBRL Profits Surge in Q4
Author: Savina Petrova
123jump.com



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Campbell Soup said profit in the fourth quarter surged 35 percent due to its beverage and sauce divisions and its international operations. CBRL earnings rose 16 percent on sales at restaurants open at least a year.

 
Campbell Soup Co. (CPB: chart), the world’s largest soup maker based in Camden, New Jersey, said profit in the fourth quarter ended Aug. 3 increased 35 percent due to its North American beverage and sauce divisions and its international operations. The company earned 18 cents a share, up from 13 cents a year ago. First Call analysts had expected earnings of 17 cents. Revenue rose 25 percent to $1.5 billion.

CBRL Group Inc. (CBRL: chart), a restaurant and stores operator based in Lebanon, Tennessee, said profit in the fourth quarter ended Aug. 1 climbed 16 percent on sales at restaurants open at least a year. Profit was 70 cents a share, up from 56 cents in the same period last year. Revenue jumped six percent to $580.3 million.

BAE Systems Plc (BAESF.PK), Europe's largest defense contractor based in London, narrowed its net loss in the first half of the year to 47 million pounds ($74.8 million) from 63 million pounds a year earlier, due to improved cash flow and a strong order book. Pretax profit before items fell 7.2 percent to 333 million pounds while analysts expected a 9.5 percent decline. Revenue slid 0.4 percent to 5.68 billion pounds ($9.04 million).

Rockwell Collins Inc. (COL: chart), an aerospace and defense contractor based in Cedar Rapids, Iowa, raised its fiscal 2003 earnings forecast to $1.40 to $1.45 a share, up from its July guidance of $1.33 to $1.38, and in-line with analyst expectations. Revenue is expected to be $2.55 billion, above First Call analyst forecast of $2.52 billion.

UTi Worldwide Inc. (UTIW: chart), a freight logistics services company based in Tortola, reported first-quarter net income of 26 cents a share, up from 18 cents in the same period last year. Revenue increased 39 percent to $326.8 million, helped by the acquisition of Standard Corporation and airfreight growth in the Asia Pacific region. But BB&T Capital Markets dropped its rating to “buy” from “strong buy” on Thursday.

SteelCloud Inc. (SCLD: chart), an anti-virus detection security technology company based in Dulles, Virginia, reported third-quarter earnings from continuing operations of $40,379, down from $147,317 in the same period last year, but in-line with the company’s projections to post breakeven results. Revenue rose 28 percent to $8.2 million.

Carreker Corp. (CANI: chart), a payments technology company based in Dallas, posted second-quarter earnings of 17 cents a share, down from 34 cents in the year-ago quarter. Revenue fell 20 percent to $36.2 million. Results represent a significant sequential improvement from the company’s first-quarter loss of 13 cents a share on revenue of $28.3 million.

Mikohn Gaming Corp. (MIKN: chart), a maker of systems used for gaming machines based in Las Vegas, said it expects a loss of 18 to 35 cents a share in the third quarter, wider than analyst estimates for a loss of 14 cents, because of its business transition to game-content licensing from hardware manufacturing. In the same quarter last year, the company posted an operating loss of 22 cents a share. Revenue in the third quarter is seen at $19 to $22 million, down from $29.6 million a year ago.

Good Guys Inc. (GGUY: chart), an upscale electronics retailer based in San Francisco, said it expects its loss in the second quarter ended Aug. 31 to be “substantially larger” than its loss of seven cents a share in the same period last year. Analysts at First Call expect a loss of six cents. The company saw weak demand for mature product categories, such as DVD players, projection and glass TVs, and home audio products. Revenue in the second quarter fell 16.6 percent to $152.2 million.
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