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Earnings Analysis: 
Deere Sales Fall; Target Corporation Net Falls
Author: Trupti Mehta
123jump.com
Last Update: 9:54 AM ET May 20 2009



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Deere & Company second quarter revenues fell 17% to $6.75 billion and net income fell 38% to $472.3 million or $1.11 a share. Target Corporation first quarter revenues fell 0.2% to $14.83 billion and net income fell 13% to $522 million or 69 cents a share.

 
[R]10:00AM New York – Deere & Company revenue fell 17% and net income fell 38%. Target Corporation revenue fell 0.2% and net income fell 13%.[/R]

AnnTaylor Stores Corporation, the women''s clothing retailer reported first quarter revenues fell 28% to $426.7 million from $591.7 million a year ago. Net loss in the quarter was $2.31 million or 4 cents per diluted share compared to net income of $25.9 million or 43 cents per share a year ago.

Comparable same store sales declined 30.7%

AnnTaylor Stores Corporation (ANN: chart) in the last one year traded as high as $28.43 in May 2008 and as low as $2.41 in March 2009. Based on the yesterday’s closing price of $8.95 the company has market cap of $522.91 million.

BJ’s Wholesale Club, the nation''s third-biggest warehouse club reported first quarter revenues rose 0.2% to $2.26 billion from $2.25 billion a year ago. Net income in the quarter rose 42% to $24.3 million or 45 cents per diluted share compared to net income of $17.2 million or 29 cents per share a year ago.

BJ’s Wholesale Club (BJ: chart) in the last one year traded as high as $44.29 in July 2008 and as low as $27.26 in February 2009. Based on the yesterday’s closing price of $38.06 the company has market cap of $2.08 billion.

Brady Corporation, the manufacturer of identification and security products reported third quarter sales fell 27.5% to $276.7 million from $381.9 million a year ago. Net income in the quarter fell 48% to $18 million or 34 cents per diluted share compared to net income of $34.4 million or 63 cents per share a year ago.

Brady Corporation (BRC: chart) in the last one year traded as high as $40.00 in August 2008 and as low as $14.39 in March 2009. Based on the yesterday’s closing price of $22.53 the company has market cap of $1.16 billion.

Columbus Mckinnon Corporation, a designer, manufacturer and marketer of material handling products reported fourth quarter sales fell 15.8% to $135.8 million from $161.18 million a year ago. Net loss in the quarter was $102.5 million or $5.43 per diluted share compared to net income of $8.4 million or 44 cents per share a year ago.

Net sales for the fiscal year 2008 rose 2.2% to$606.7 million from $593.8 million a year ago. Net loss for the year $78.4 million or $4.16 per diluted share compared to net income of $37.3 million or $1.95 per share a year ago.

Columbus Mckinnon Corporation (CMCO: chart) in the last one year traded as high as $30.14 in August 2008 and as low as $6.90 in March 2009. Based on the yesterday’s closing price of $13.96 the company has market cap of $265.83 million.

Deere & Company, the world''s largest maker of farm equipment reported second quarter revenues fell 17% to $6.75 billion from $8.10 billion a year ago. Net income in the quarter fell 38% to $472.3 million or $1.11 per diluted share compared to net income of $763.5 million or $1.74 per share a year ago.

Deere & Company (DE: chart) in the last one year traded as high as $83.90 in May 2008 and as low as $24.51 in March 2009. Based on the yesterday’s closing price of $43.82 the company has market cap of $18.52 billion.

Eaton Vance Corporation, the oldest investment management firm reported second quarter revenues fell 27% to $198.4 million from $273.4 million a year ago. Net income in the quarter fell 51.5% to $25.8 million or 22 cents per diluted share compared to net income of $53.2 million or 43 cents per share a year ago.

Eaton Vance Corporation (EV: chart) in the last one year traded as high as $44.40 in June 2008 and as low as $11.86 in November 2008. Based on the yesterday’s closing price of $29.53 the company has market cap of $3.42 billion.

Target Corporation, the discount retailer reported first quarter revenues fell 0.2% to $14.83 billion from $14.80 billion a year ago. Net income in the quarter fell 13% to $522 million or 69 cents per diluted share compared to net income of $602 million or 74 cents per share a year ago.

Target Corporation (TGT: chart) in the last one year traded as high as $59.55 in September 2008 and as low as $25.00 in March 2009. Based on the yesterday’s closing price of $43.61 the company has market cap of $32.95 billion.
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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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