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Earnings Analysis: 
Tweeter Home Entertainment Narrows Quarterly Loss
Author: 123jump.com Staff
123jump.com
Last Update: 1:26 PM EST December 06 2006



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Tweeter Home Entertainment Group fourth-quarter net loss narrowed, although the sales dropped on a sharp decline in the selling price of flat panel displays. Publisher John Wiley & Sons second-quarter profit climbed 11% on a rise in revenue from professional and trade publications. Blyth posted a third-quarter loss mainly due to restructuring and other charges. Korn/Ferry International second-quarter profit increased 25% on higher fee revenue.

 
Tweeter Home Entertainment Group Inc. (TWTR: chart), consumer electronics retailer, reported a fourth-quarter loss of $16.8 million, or 66 cents per share, narrower than a year-ago loss of $20 million, or 81 cents per share. On a continuing operations basis, the company lost $16.4 million, or 65 cents per share. Revenue declined to $162.3 million from $188.3 million in the same period a year earlier. Same-store sales in the fourth quarter decreased 13%.

John Wiley & Sons Inc. (JWA: chart), publisher, said that its second-quarter net income increased 11% on 8% higher revenue due to strength in company’s professional, trade, scientific, technical and medical division. Quarterly profit was $29.9 million, or 52 cents per share, versus $27 million, or 45 cents per share, in the year-ago quarter. Adjusted profit was 48 cents per share against 45 cents per share last year. Revenue jumped to $285 million from $263 million a year earlier.

Blyth Inc. (BTH: chart), candles and other fragrance products maker, reported a third-quarter loss of $221,000, compared with a year-ago profit of $23 million, or 56 cents per share. On a continuing operations basis, the company reported net earnings of $1.9 million, or 5 cents per share, versus last year\''s equivalent profit of $13.8 million, or 33 cents per share. On a non-GAAP (generally accepted accounting principles) basis, excluding certain items such as restructuring charges, net income was $5.2 million, or 13 cents per share, in the third quarter. Revenue declined to $297.9 million from $328.5 million in the same period a year earlier.

Korn Ferry International (KFY: chart), executive search firm, reported a second-quarter net income rise of 16%. Quarterly profit reached $13.6 million, or 31 cents per share, versus $11.7 million, or 27 cents per share in the year-ago period. Adjusted net income increased to $14.35 million from $11.69 million a year earlier. Revenue jumped to $164.8 million from $132.9 million in the same period a year ago.

Quanex Corp. (NX: chart), maker of steel and aluminum products for the auto and building markets, said that its fourth-quarter net earnings increased $39.2 million, or $1.03 per share, compared with $31.2 million, or 78 cents per share, in the year-ago period. Revenue climbed to $527.7 million versus $483.3 million in the same period a year earlier.
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