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Earnings Analysis: 
Hormel's Fourth-Quarter Net Earnings up 17%
Author: Ivaylo Dagnev
123jump.com
Last Update: 9:34 AM EST November 23 2005


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Hormel Foods Corp, manufacturer and marketer of consumer-branded meats and food products, posted Q4 net earnings of 59 cents a share, up from 50 cents in the same period last year, beating analysts’ expectations of 57 cents a share. Sales rose 9.9% in the latest quarter.

 
Hormel, (HRL: chart), projected earnings in a range of 44 cents to 50 cents a share for the fiscal 2006, including a charge of 4 cents for adoption of FAS 123R, the accounting rule for share-based payments. And for the year, Hormel''s pegged its profit range at $1.86 to $1.96 a share, also including the 4-cent charge.

Patterson Cos, (PDCO: chart), equipment distribution company, reported that Q2 net incomeadvanced to 32 cents a share, a penny up from 31 cents share in the same period last year, missing analyst estimate by a penny. The company added that sales advanced 11% in Q2. The company stated that Patterson Dental, its largest business, reported sales growth of 9%. Patterson expects Q3 earnings between 38 cents and 40 cents a share.

Air France-KLM, (AKH: chart), air transport company, announced that Q2 profit more than tripled to 2.73 euro a share, up from 76 euro cents a share in the year-ago period. Sales rose 10%. Fuel costs increased 29%, reflecting a 3% rise in volumes, a 49% surge in jet fuel prices and a hedging impact of 23%.

Nexus Telocation Systems Ltd, (NXUS: chart), provider of stolen-vehicle-retrieval and roadside-assistance services in Israel, posted a narrow Q3 loss of 14 cents a share, from 37 cents a share in the year-ago period as revenue more than doubled. The company reversed to Q4 operating earnings of $870,000 from an operating loss of $313,000.
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