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Earnings Analysis: 
Johnson Outdoors Net Loss Widens
Author: 123jump.com Staff
123jump.com
Last Update: 2:40 PM EST January 26 2007


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LaBranche & Co. said that excluding a hefty gain related to its stake in NYSE Group, it posted a loss for the fourth quarter. Manor Care fourth-quarter profit rose 56%, led by gains in company’s hospice business and cuts in its liability costs. Halliburton posted a 40% decline in fourth-quarter profit, citing heavy demand for company’s oilfield equipment and personnel. Capitol Bancorp quarterly earnings were favorably impacted by year-end adjustments, primarily driven by loan fees.

 
LaBranche & Co. (LAB: chart), specialist trading company, said that its fourth-quarter earnings increased to $39.1 million, or 63 cents per share, compared with $17.4 million, or 28 cents per share, a year earlier. Excluding a $72.3 million gain from the increase in value of restricted shares of NYSE Group, the company would have lost $1.8 million, or 3 cents per share. Revenue jumped to $198.8 million from last year''s $111.4 million, on average.

Manor Care Inc. (HCR: chart), health-care provider, said fourth-quarter earnings rose to $50.5 million, or 66 cents per share, from $32.3 million, or 40 cents per share, a year earlier. Results for the quarter included a 7 cents per share charge for terminating a defined benefit pension plan and 4 cents per share in reduced general liability accruals. Revenue climbed to $934.2 million from last year''s $864.1 million.

Halliburton Co. (HAL: chart), oil industry services provider, said its fourth-quarter net income fell 40.1% to $658 million, or 64 cents per share, from $1.1 billion, or $1.04 per share in the same period a year earlier. Revenue rose 8% to $6 billion. Income from continuing operations in the quarter was 65 cents per share. The company noted that its year-ago profit included 51 cents per share of tax-related gains.

Capitol Bancorp Ltd. (CBC: chart), bank-holding company, said that its fourth-quarter net income rose 14%. Earnings reached $11.4 million, or 68 cents per share, compared with $10 million, or 64 cents per share, in the year-earlier period. Revenue climbed 5% to $50 million.

Johnson Outdoors Inc. (JOUT: chart), outdoor activity company, said its fiscal first-quarter net loss widened to $2.1 million, or 23 cents per share, compared with $1.1 million, or 12 cents per share a year ago. Sales slipped 1% to $71.7 million versus $72.6 million a year earlier. The outdoor activity company said the first quarter is historically weakest due to the warm-weather seasonality of the business. It added sales were also hit by an anticipated $2.4 million slowdown in military sales. Profit was also hit by higher commodity costs.

PLX Technology Inc. (PLXT: chart), chips maker, reported fourth-quarter earnings of $162,000, or a penny per share, versus $35,000, or breakeven per share, last year. Revenue climbed to $21 million compared with $15.3 million in the same period a year earlier.

W.W. Grainger Inc. (GWW: chart), maintenance products supplier, said that its fourth-quarter earnings fell to $98.9 million, or $1.14 per share, compared with a year-ago profit of $103.8 million, or $1.13 per share. The latest results include a gain of 6 cents per share from income tax benefits, while last year''s performance included a similar gain of 10 cents per share. Revenue climbed 5% to $1.46 billion versus $1.39 billion in the same period a year earlier.

CDW Corp. (CDWC: chart), computer products seller, said that its fourth-quarter earnings fell to $53.6 million, or 67 cents per share, compared with a year-ago profit of $70.5 million, or 86 cents per share. On a non-GAAP (generally accepted accounting principles) basis, excluding a litigation settlement of $15.4 million, the Vernon Hills, Ill., technology products distributor said it earned $69 million, or 86 cents per share, in the latest quarter. Net sales jumped to $1.82 billion versus $1.61 billion in the same period a year earlier.

Caterpillar Inc. (CAT: chart), heavy construction equipment maker, said that its fourth-quarter earnings increased by 4% to $882 million, or $1.32 per share, compared with a year-ago profit of $846 million, or $1.20 per share. Total sales and revenue climbed to $11 billion against $9.66 billion in the same period a year earlier. Excluding revenue from financial products, sales from machinery and engines reached $10.33 compared to $9.04 billion a year ago.

Honeywell International Inc. (HON: chart), diversified high-tech manufacturer, said that its fourth-quarter earnings increased to $585 million, or 72 cents per share, compared with a year-ago profit of $514 million, or 61 cents per share. The Dow component said it recorded stock option expense of a penny per share in the latest quarter. Revenue jumped 14% to $8.28 billion versus $7.28 billion in the same period a year earlier.
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