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Earnings Analysis: 
Valspar Net Rises, SolarCity Net Swings to Loss
Author: Mukesh Buch
123jump.com
Last Update: 11:35 AM ET May 14 2013



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10:45 AM New York Pan American Silver second quarter net plunged 60% to $20.1 million. Post Holdings second quarter net tumbled 59%. SolarCity first quarter net swung to $31 million loss. Valspar second quarter net edged up 0.5% to $76.9 million. Taminco first quarter net swung to profit.

Earnings Review

Pan American Silver Corp. (PAAS), the Canada based precious metal producer said total revenue in the first quarter ending in March advanced 6% to $243 million. Net income in the quarter plunged 60% to $20.1 million or 13 cents a diluted share compared to $50.2 million or 47 cents.

Post Holdings, Inc. (POST), the holding company reported revenues in the second quarter ending in March slightly slid 0.9% to $248.2 million. Net income in the quarter tumbled 59% to $4.3 million or 13 cents a diluted share compared to $10.5 million or 30 cents.

Gross profit for the quarter dropped 8% to $102.5 million and operating income declined 13% to $28.9 million.

SolarCity Corporation (SCTY), the solar energy stated total revenues in the first quarter ending in March jumped 21% to $30 million. In the quarter, net loss swung to $31 million or 41 cents a diluted share compared to net income of $2.8 million or 4 cents.

The company added gross profit in the quarter surged 26% to $12.7 million.

For the second quarter, the SolarCity expects revenue in the range of $5 million to $10 million and Operating Expenses between $38 million and $42 million.

The Valspar Corporation (VAL), the coating and paint manufacturer reported net sales in the second quarter ending in March nearly flat at $1.03 billion. Net income in the quarter edged up 0.5% to $76.9 million or 84 cents a diluted share compared to $76.5 million or 80 cents.

Gross profit for the quarter declined 5% to $338.6 million.

In the quarter, paints segment net sales rose 3% to $438 million in North America and coatings segment net sales decreased 1% to $537 million.

For the year, the company expects adjusted earnings per share in the range of $3.60 to $3.80.

Taminco Corporation (TAM), the derivative products producer stated total revenue in the first quarter ending in March climbed 10% to $310 million. In the quarter, net income swung to $8 million or 16 cents a diluted share compared to net loss of $43 million or 88 cents.

The company added gross profit in the quarter surged six-fold to $57 million.
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