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Earnings Analysis: 
Kroger Rises, Best Buy Falls
Author: 123jump.com Staff
123jump.com
Last Update: 3:01 PM ET September 16 2008



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Best Buy, the largest consumer electronics retailer said second quarter revenues increased 12% to $9.8 billion and net income fell 19% to $202 million or 48 cents a share. The Goldman Sachs Group, Inc third quarter revenues declined 51% to $6.04 billion and net income fell 70% to $845 million or $1.81 a share. The Kroger Co grocery retailer second quarter revenues rose 12% to $18.1 billion and net income rose 3.32% to $276.5 million or 42 cents a share.

 
2:45PM New York - Best Buy Inc revenue increased 12% and net income fell 19%. The Goldman Sachs Group, Inc revenue declined 51% and net income fell 70%. The Kroger Co revenue rose 12% and net income rose 3.32%.

Best Buy Co., Inc, a consumer electronics retailer reported second quarter revenues increased 12% to $9.8 billion from $8.7 billion a year ago. Net income in the quarter fell 19% to $202 million or 48 cents per diluted share compared to net income of $250 million or 55 cents per share, a year ago. Comparable store sales increase of 4.2%.

Best Buy Co., Inc (BBY) in the last one year traded as high as $53.90 in December 2007 and as low as $36.10 in July 2008. Based on the yesterday’s closing price the company has a market cap of $18.00 billion.

CBRL Group, Inc, a retail restaurant chain reported fourth quarter sales declined 4.8% to $601.8 million from $632.1 million a year ago. Net income in the quarter fell 24% to $21 million or 93 cents per diluted share compared to net income of $27.8 million or $1.13 per share, a year ago. Comparable store restaurant sales for the period decreased 0.8%.

Total revenue from continuing operations of $2.38 billion for fiscal 2008 represented an increase of 1.4% over fiscal 2007. Comparable store restaurant sales increased 0.5% on a comparable week basis, including a 3.4% increase per check. Comparable store retail sales decreased 0.3% on a comparable-week basis. Excluding the additional week in fiscal 2007, revenues increased 3.4%.

The company reported income from continuing operations of $65.3 million, or $2.79 per diluted share, compared with income from continuing operations of $76.0 million, or $2.52 per diluted share, in fiscal 2007. Excluding the $0.14 effect of the 53rd week in fiscal 2007, earnings per share in fiscal 2008 would have increased 17% from fiscal 2007.
Net cash flow provided by operating activities was $124.5 million, compared with $96.9 million in fiscal 2007.

CBRL Group, Inc (CBRL) in the last one year traded as high as $42.74 in October 2007 and as low as $18.93 in July 2008. Based on the yesterday’s closing price the company has a market cap of $572.12 million.

The Goldman Sachs Group, Inc, a global investment banking, securities and investment management firm reported third quarter revenues declined 51% to $6.04 billion from $12.34 billion a year ago. Net income in the quarter fell 70% to $845 million or $1.81 per diluted share compared to net income of $2.85 billion or $6.13 per share, a year ago.

The Goldman Sachs Group, Inc (GS) in the last one year traded as high as $250.70 in October 2007 and as low as $130.43 in September 2008. Based on the yesterday’s closing price the company has a market cap of $53.36 billion.

The Kroger Co, the largest independent grocery retailer reported second quarter revenues rose 11.9% to $18.1 billion from $16.1 billion a year ago. Net income in the quarter rose 3.32% to $276.5 million or 42 cents per diluted share compared to net income of $267.3 million or 38 cents per share, a year ago.

The Kroger Co (KR) in the last one year traded as high as $30.99 in August 2008 and as low as $23.39 in April 2008. Based on the yesterday’s closing price the company has a market cap of $17.41 billion.

Optical Cable Corporation, a manufacturer of fiber optic cables and military ground tactical fiber optic cable said third quarter sales rose 40.4% to $16.4 million from $11.7 million a year ago. Net income in the quarter fell 11.62% to $482,000 or 8 cents per diluted share compared to net income of $538,000 or 9 cents per share, a year ago.

Optical Cable Corporation (OCCF) in the last one year traded as high as $7.45 in September 2008 and as low as $3.31 in January 2008. Based on the yesterday’s closing price the company has a market cap of $35.03 million.

Pall Corporation, a supplier of filtration, separation and purification technologies said fourth quarter sales rose 11.9% to $723.2 million from $646.3 million a year ago. Net income in the quarter rose 76% to $69.9 million or 57 cents per diluted share compared to net income of $16.8 million or 13 cents per share, a year ago.

For the full fiscal year ended July 31, 2008, sales were $2.6 billion, a 14.3% increase over fiscal year 2007. Net earnings were $217.3 million compared to $127.5 million. Diluted earnings per share were $1.76, up from $1.02 and pro forma earnings, excluding restructuring and other charges, were $1.97 versus $1.48, an increase of 33.1%.

Pall Corporation (PLL) in the last one year traded as high as $44.55 in June 2008 and as low as $33.37 in May 2008. Based on the yesterday’s closing price the company has a market cap of $4.15 billion.
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Market data: BATS Exchange. Inc.

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