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Earnings Analysis: 
Perry Ellis Profit Rises 32%
Author: 123jump.com Staff
123jump.com
Last Update: 4:49 PM EDT March 20 2007



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Quebecor swung to a fourth-quarter profit but said its revenue slipped and warned of further headwinds in the first half of 2007 as it speeds up the retooling of its plants. Camtek posted a fourth-quarter loss that it blamed an industrywide slowdown. Perry Ellis profit rose 32%, driven by increased sales in its higher margin businesses. Commercial Metals reported an 18% decline in second-quarter profit due to a drop in steel shipping volumes, a rise in the cost and a hefty accounting expense.

 
Quebecor World Inc. (IQW: chart), commercial printer company, said that its fourth-quarter net earnings were $11.4 million compared with the same quarter a year ago the company posted a net loss of $210.6 million. Earnings from continuing operations were $11.6 million, or 3 cents per share. A year ago, the loss from continuing operations was $205 million, or $1.64 per share. Quebecor World reported revenue from continuing operations of $1.62 billion against $1.66 billion in the year-ago period.

Camtek Ltd. (CAMT: chart), maker of automated inspection systems for circuit board manufacturers, said that it swung to a fourth-quarter net loss of $2.22 million, or 7 cents per share compared with a net profit of $2.06 million, or 7 cents per share, in the year-ago period. Revenue climbed to $21 million versus $19.4 million in the same period a year earlier. Camtek forecast first-quarter revenue of $16 million to 18 million and said it expects increased demand in the second quarter.

Hirsch International Corp. (HRSH: chart), commercial embroidery systems provider, reported a fourth-quarter net profit of $35,000, or a penny per share, compared with a net loss of $291,000, or 2 cents per share, in the year-ago period. Revenue rose to $15.2 million versus $12 million in the same period a year earlier.

Perry Ellis International Inc. (PERY: chart), apparel maker, reported its fiscal fourth-quarter results. The company said it earned $10.7 million, or 68 cents per share, for the quarter, up from a profit of $8.1 million, or 54 cents per share, in the year-ago equivalent period. Revenue rose 8.3% in the quarter to $231.6 million versus $213.9 million in the same period a year earlier.

Commercial Metals Co. (CMC: chart), steel producer, said that its second-quarter earnings declined to $65.9 million, or 54 cents per share, compared with a year-ago profit of $80.1 million, or 65 cents per share. The latest results include after-tax LIFO (last in, first out) inventory accounting expense of $12.3 million, or 10 cents per share, compared to income of $2.6 million, or 2 cents per share a year ago. Sales increased to $2.02 billion versus $1.64 billion in the same period a year earlier.
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