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Earnings Analysis: 
Corinthian Colleges Net Declines but Tops Estimate
Author: Ivaylo Dagnev
123jump.com
Last Update: 9:24 AM EDT April 28 2006



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Corinthian Colleges Inc, education group, reported Q3 net income dropped to 17 cents a share, from 23 cents a share a year earlier. The company added that current earnings incorporate stock-option expensing costs of 2 cents a share. Revenue dropped to $250.3 million from $252.8 million. The company also announced that the sale of its Corporate Education Services division reduced revenue by around $7.1 million in Q3.

 
Corinthian Colleges, (COCO: chart), said that if not for this divestiture, revenue advanced by around $4.6 million, or 1.9% in Q3. The company beat analyst estimate for earnings of 16 cents a share. Corinthian is expecting Q4 earnings in the range of 13 cents to 15 cents a share, including aRound 1 cent a share for stock-option expensing.

Simon Property Group Inc, (SPG: chart), real estate properties operator, reported Q1 net income increased to 47 cents a share, from 26 cents a share in the year-ago period. The company added that funds from operations advanced to $1.26 a share from $1.12 the prior year. The company topped analysts’ estimates for earnings of 23 cents a share, and funds from operations of $1.20.

Automatic Data Processing Inc, (APD: chart), data and transaction processor, reported Q3 net income advanced to 64 cents a share, up from 57 cents a share in the year-ago period. Sales increased 10% to $2.44 billion from $2.22 billion in Q3. The company beat analysts’ forecasts by a penny.

Snap-On Inc, (SNA: chart), tool maker, reported Q1 earnings of 37 cents a share, up from a profit of 31 cents a share a year-earlier despite sales decline, beating analysts’ estimates for a profit of 28 cents a share.

The Lamson & Sessions Co, (LMS: chart), telecommunications and engineered sewer products manufacturer, reported Q1 net income advanced almost four times to 58 cents a share, from 15 cents a share in the year-earlier period on 37% revenue growth, beating analysts views for earnings of 55 cents a share.

American Axle & Manufacturing Holdings Inc, (AXL: chart), driveline systems producer, reported its Q1 net income dropped to 17 cents a share, from 26 cents a share in the year-ago period. The company added the 2006 results incorporated a tax-related gain of 6 cents a share and a $10.4 million rise in non-cash expenses. The company missed analysts’ estimate of 19 cents a share.
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