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Earnings Analysis: 
Lifetime Brands Net Surges, Myokardia Net Swing to Profit
Author: Mukesh Buch
123jump.com
Last Update: 12:45 PM ET March 13 2017



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12:00 PM New York Empire Resorts fourth-quarter net loss narrowed to $7 million. Gener8 Maritime fourth-quarter net tumbled 87% to $6 million. Lifetime Brands fourth-quarter net surged 34% to $15 million. Myokardia fourth-quarter net swung to profit $14 million.

Tollbooth Index edged down 3.03 to 11,595.14.

Earnings Review

Empire Resorts Inc (NYNY), the casino and video gaming services provider stated revenues in the fourth-quarter ending in December declined 6.1% from a year ago to $15.3 million.

Net loss in the quarter narrowed to $6.6 million or 19 cents per diluted share from $11.8 million or 77 cents per share in the same quarter last year.

Gener8 Maritime Inc (GNRT), the seaborne oil transportation services provider said total revenues in the fourth-quarter ending in December slid 0.4% from a year ago to $102.4 million.

Net income in the quarter tumbled 87.3% to $5.8 million or 7 cents per diluted share from $45.5 million or 55 cents per share in the same quarter last year.

The international seaborne crude oil transportation services provider said vessel operating days in the quarter jumped 52% from a year ago period to 3,533.

Lifetime Brands Inc (LCUT), the kitchen and tableware provider said net sales in the fourth-quarter ending in December advanced 4.1% from a year ago to $193.5 million.

Net income in the quarter surged 33.6% to $14.7 million or $1 per diluted share from $11 million or 77 cents per share in the same quarter last year.

The kitchenware provider forecasted sales in fiscal 2017 to grow in low-to mid-single digit.

Myokardia Inc (MYOK), the clinical-stage biopharmaceutical products developer stated revenues in the fourth-quarter ending in December surged 694.4% from a year ago to $28.6 million.

Net in the quarter swung to profit $14.3 million or 44 cents per diluted share from a loss of $8.5 million or 48 cents per share in the same quarter last year.
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