Mercantile Bank’s, (
MBWM), net income for Q4 amounted to 59 cents per share, up 1.7% from 58 cents per share in the comparable period last year. Moderation in earnings growth primarily reflects the Company''s recent expansion initiatives.
Genentech Inc, (
DNA), biotherapeutics manufacturer, reported that its Q4 net income was 31 cents a share, 64% higher than the 19 cents a share, earned in the same period a year ago. Sales were $1.9 billion vs. last year''s $1.3 billion. Non-GAAP earnings of 34 cents a share matched the analysts’ estimate Sales, however, exceeded the $1.85 billion forecast by analysts.
International DisplayWorks Inc., (
IDWK), maker of LCDs for modules, cell phones and other wireless devices, reported Q4 net income of a penny a share down from 2 cents a share in the same time last year despite higher sales because of costs growth. Sales amounted to $24 million, up 68% from last year''s same period result. The company missed the analysts’ expectations of 4 cents a share for the period.
Material Sciences Corp, (
MSC), material-based solutions for acoustical applications company, posted Q3 net earnings of 15 cents a share, down 7.9% vs. 17 cents a share in the same time last year despite revenue growth. Gross margin dropped 0.7%.
Infosys Technologies, (
INFY), technical and system software company, reported that Q3 earnings per share rose to 53 cents, up from 42 cents per share in the year-ago period on 32.2% revenue growth.
M&T Bancorp, (
MTB), banking services company, reported that its Q4 net income advanced to $1.78, up from $1.66 a share in the year-ago period on cost controls and improved credit quality which helped offset pressure on margins from a flat yield curve. The company beat analysts’ projections of $1.75 a share.
SYNNEX Corp, (
SNX), IT supply chain services company, reported that Q4 net income decreased 17% to 40 cents a share, down from 49 cents a share in the same period last year despite 11% revenue growth. Net income on a non-GAAP principles was 41 cents per share, compared with net income of 43 cents per share in prior year quarter.