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Earnings Analysis: 
Barnes & Noble; FedEx Net Drops
Author: Trupti Mehta
123jump.com
Last Update: 1:27 AM ET March 19 2009



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Barnes & Noble, Inc fourth quarter sales fell 6% to $1.63 billion and net income fell 29% to $81.2 million or $1.46 a share. FedEx Corporation third quarter revenues fell 14% to $8.14 billion and net income fell 75% to $97 million or 31 cents a share.

 
[R]10:00AM New York - Barnes & Noble, Inc sales fell 6% and net income fell 29%. FedEx Corporation revenue fell 14% and net income fell 75%.[/R]

Barnes & Noble, Inc, the nation''s largest bookstore chain reported fourth quarter sales fell 6% to $1.63 billion from $1.74 billion a year ago. Net income in the quarter fell 29% to $81.2 million or $1.46 per diluted share compared to net income of $115 million or $1.79 per share a year ago.

Comparable same store sales fell 7.3%.

Sales for the fiscal year 2008 fell 3% to $5.12 billion from $5.29 billion a year ago. Net income for the year fell 44% to $75.9 million or $1.32 per diluted share compared to net income of $135.8 million or $2.03 per share a year ago.

Barnes & Noble, Inc (BKS: chart) in the last one year traded as high as $33.64 in March 2008 and as low as $10.77 in November 2008. Based on the yesterday''s closing price of $21.01 the company has market cap of $1.16 billion.

Discover Financial Services, the fourth-largest U.S. credit card network reported first quarter net interest income rose 56% to $503.1 million from $323.4 million a year ago. Net income in the quarter rose 48% to $120.4 million or 25 cents per diluted share compared to net income of $81.2 million or 17 cents per share a year ago.

Discover Financial Services (DFS: chart) in the last one year traded as high as $19.87 in May 2008 and as low as $4.73 in March 2009. Based on the yesterday''s closing price of $7.24 the company has market cap of $3.49 billion.

FedEx Corporation, the provider of a portfolio of transportation, e-commerce and business services reported third quarter revenues fell 14% to $8.14 billion from $9.44 billion a year ago. Net income in the quarter fell 75% to $97 million or 31 cents per diluted share compared to net income of $393 million or $1.26 per share a year ago.

FedEx Corporation (FDX: chart) in the last one year traded as high as $99.46 in May 2008 and as low as $34.02 in March 2009. Based on the yesterday''s closing price of $43.05 the company has market cap of $13.40 billion.

Neogen Corporation, develops and markets products dedicated to food and animal safety reported third quarter revenues rose 10.3% to $27.8 million from $25.2 million a year ago. Net income in the quarter rose 6% to $2.82 million or 19 cents per diluted share compared to net income of $2.66 million or 18 cents per share a year ago.

Neogen Corporation (NEOG: chart) in the last one year traded as high as $31.95 in October 2008 and as low as $17.35 in March 2009. Based on the yesterday''s closing price of $17.55 the company has market cap of $264.33 million.

New York and Company, Inc, a specialty apparel chain reported fourth quarter sales fell 9.5% to $325.1 million from $359.4 million a year ago. Net loss in the quarter was $27.4 million or 46 cents per diluted share compared to net income of $6.9 million or 11 cents per share a year ago.

Comparable same store sales fell 10.9%.

Net sales for the fiscal year 2008 fell 4% to $1.14 billion from $1.19 billion a year ago. Net loss for the year was $19.8 million or 33 cents per diluted share compared to net loss of $4.9 million or 8 cents per share a year ago.

New York and Company, Inc (NWY: chart) in the last one year traded as high as $12.12 in September 2008 and as low as $0.82 in November 2008. Based on the yesterday''s closing price of $2.86 the company has market cap of $172.01 million.

Progress Software Corporation, a provider of application infrastructure software reported first quarter revenues fell 1% to $121 million from $122 million a year ago. Net income in the quarter fell 72% to $3.7 million or 9 cents per diluted share compared to net income of $12.8 million or 29 cents per share a year ago.

Progress Software Corporation (PRGS: chart) in the last one year traded as high as $31.23 in June 2008 and as low as $14.69 in March 2009. Based on the yesterday''s closing price of $17.51 the company has market cap of $698.70 million.

The Children’s Place Retail Stores, Inc, a specialty retailer of children''s merchandise reported fourth quarter revenues fell 0.4% to $441.5 million from $443.3 million a year ago. Net income in the quarter was $38.8 million or $1.31 per diluted share compared to net loss of $58.5 million or $2.01 per share a year ago.

Comparable same store sales fell 5%.

Net revenues for the fiscal year 2008 rose 7% to $1.6 billion from $1.5 billion a year ago. Net income for the year was $82.4 million or $2.79 per diluted share compared to net loss of $59.6 million or $2.01 per share a year ago.

The Children’s Place Retail Stores, Inc (PLCE: chart) in the last one year traded as high as $43.40 in September 2008 and as low as $16.45 in November 2008. Based on the yesterday''s closing price of $23.51 the company has market cap of $690.69 million.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites.
Market data: BATS Exchange. Inc.

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