Del Monte Foods Company (
DLM: chart) reported before the bell Thursday lower quarterly profits, blaming increased commodity costs. The U.S. biggest manufacturer of canned fruit and vegetables announced net income of $8.5 million, or 4 cents per share, for its fiscal 2005 first quarter ended August 1. For the 2004 comparable period, Del Monte earned $14.3 million, or 7 cents per share. Excluding integration costs, first-quarter earnings came to $17.1 million, or 6 cents per share, compared with $21.3 million, or 9 cents per share, last year. The results were in line with Wall Street’s expectations. San Francisco, California-based Del Monte said quarterly sales climbed to $626 million from $611.3 million, due primarily to higher prices. Analysts were looking for sales of $637 million.
Looking ahead, the company forecast second-quarter earnings of 17 cents to 21 cents a share.
Casey's General Stores, Inc. (
CASY: chart) announced after market close Wednesday that its quarterly earnings climbed 14% from a year earlier, on the back of higher sales, which offset an increase in expenses. The Ankeny, Iowa-based operator and franchiser of gas stations and convenience stores reported net income of $15.9 million, or 32 cents a share, for the first quarter of fiscal 2005, in contrast to net income of $14.0 million, or 28 cents a share, for the same quarter in fiscal 2004. The earnings topped the average analysts’ estimate by a penny a share. Sales jumped 20% to $733.9 million in the quarter ended July 31, compared with year-ago sales of $609.4 million. Gasoline revenue was up to $480.5 million in the quarter, a 13% increase from $367 million a year ago. Casey's said its Grocery & Other Merchandise business recorded a 4.4% increase in first-quarter sales of $196.1 million, while Prepared Food & Fountain sales rose 10% to $52.2 million.
Company shares closed Wednesday at $16.75, up 24 cents, or 1.45%.
Greif Inc. (
GEF: chart) posted after the bell Wednesday quarterly profits that more than quadrupled from last year, driven by higher prices and lower costs. The Delaware, Ohio-based shipping container company announced income of $14.9 million, or 51 cents per share, for its fiscal third quarter, up from $3.6 million, or 13 cents per share, generated in the prior-year period. Excluding items, third-quarter earnings totaled 80 cents per share, outpacing the mean analysts’ estimate of 74 cents per share. Net sales were up 18% in the quarter to $584.8 million from $496.8 million.
The stock dropped a penny to $38.99 at market close Wednesday.
SkillSoft PLC (
SKIL: chart) said Wednesday that it swung to a net profit of $1.4 million, or 1 cent a share, in its fiscal second quarter, from a loss of $53.2 million, or 53 cents a share, a year earlier, when results included a litigation settlement and other one-time items. The Nashua, New Hampshire-based provider of e-learning content and technology products had a profit, excluding items, of 4 cents a share in the quarter, a penny above analysts’ projections. Quarterly sales rose to $50.6 million from $45.1 million, last year.
Company shares plunged 8.99% on Wednesday to $5.57.
Carrefour SA ((CA.PA)) on Wednesday turned in net income of €537 million ($654 million) for the first half of fiscal year 2004, a 5.3% increase from net income of €510 million in the first half a year ago. Excluding items, profit rose 11% from last year to €531 million ($647 million), matching analysts’ views. The France-based world’s second-largest retailer cited solid international sales and lower finance costs as main factors for the improvement. Revenue edged up 2.9% to €34.55 billion ($42.08 billion).
Corinthian Colleges, Inc. (
COCO: chart) of Santa Ana, California, reported Wednesday higher quarterly earnings, helped by increased revenues from acquisitions. The post-secondary education company said that it earned $19.1 million in its fourth quarter, compared with a profit of $18 million in the fourth quarter of fiscal 2003. Earnings per share were 20 cents in both periods. The mean estimate of analysts was for a profit of 19 cents a share.
The stock rocketed up 23.22% to close Wednesday at $14.01.
L'Oreal SA (
LORLY: chart) announced Wednesday that its income jumped 21.8% to €961 million ($1.17 billion) for the first half of 2004, boosted by strong sales of new products. For the year-earlier period, the world’s top beauty products company had a profit of €789 million. France-based L'Oreal recorded revenue of €7.40 billion ($9.01 billion) in the first six months of the year, up 3.6% from last year.
Powell Industries, Inc. (
POWL: chart) of Houston, Texas, posted Wednesday a drop in its quarterly profits, hurt by charges and sluggish sales of electrical power products. The company, which makes equipment to monitor the flow of electricity, reported third-quarter net earnings of $700,000, or 7 cents per share, against net earnings of $1.3 million, or 13 cents per share, for the 2003 corresponding period. Quarterly revenue slid to $52.8 million from $60.4 million.
Powell shares closed Wednesday down 7 cents, or 0.42%, at $16.45. The stock gained 10 cents to $16.55 in after-hours trading.
Van Houtte Inc. ((VH.TO)) on Wednesday rolled out net income of C$5.3 million, or 25 Canadian cents a share, for its first quarter, in contrast to net income of C$3.3 million, or 15 Canadian cents a share, a year earlier. The Montreal, Canada-based gourmet coffee maker cited acquisitions and increased office coffee services as principal contributors for the profit rise. Sales for the quarter climbed 9% to C$102.6 million from C$94.1 million, last year.