Express Scripts, Inc. (
ESRX: chart) announced after market close Wednesday a 20% jump in its quarterly earnings, topping analysts’ expectations, boosted by increased use of the company’s mail pharmacy services and higher sales of generic prescription drugs. The St. Louis, Missouri-based pharmacy benefits management company, one of the largest in the U.S., turned in net income of $80.9 million, or $1.08 per share, for the fourth quarter of fiscal 2004, up from $67.4 million, or 87 cents per share, a year earlier. The earnings beat the consensus analysts’ forecast by 2 cents per share. For the quarter ended December 31, revenue advanced 13% to $3.94 billion from $3.49 billion, last year. Express Scripts said its acquisition of CuraScript helped lift the results. For the full fiscal year, the company earned $278.2 million, or $3.64 per share, on revenue of $15.11 billion. That compares to earnings of $249.6 million, or $3.21 per share, on revenue of $13.29 billion, in 2003.
For its first quarter, Express Scripts projected earnings of at least $1.07 per share, which is above the mean analysts’ estimate of $1.04 per share.
Company shares dropped 7 cents on Wednesday to $77.21. The stock rose 2.51% to $79.15 in after-hours trading.
The Pep Boys - Manny, Moe & Jack (
PBY: chart) of Philadelphia, Pennsylvania, reported before the bell Thursday a wider quarterly loss, hurt by a decline in the gross profit percentage from comparable retail sales. The auto parts retailer posted a net loss of $10.1 million, or 18 cents a share, for its fourth quarter, compared with a loss of $2.36 million, or 4 cents a share, last year. Loss from continuing operations was $9.67 million, or 17 cents a share, for the quarter ended January 29, against a prior-year loss from continuing operations of $5.02 million, or 9 cents a share. On that basis, analysts were looking for a profit of 1 cent per share. Quarterly sales edged up 4.6% from a year ago to $554.1 million.
The stock slipped 1.29% to $17.55 at market close Wednesday. Company shares gained 10 cents to $17.65 in the extended session.
AutoZone, Inc. (
AZO: chart) posted Wednesday second-quarter net income of $119.5 million, or $1.48 a share, which is a 30% increase, compared to year-earlier income of $91.7 million, or $1.04 a share. The Memphis, Tennessee-based U.S. No.1 auto-parts chain said improving sales and a one-time tax benefit boosted the results. Profit, excluding the tax benefit, was $1.29 a share, for the quarter ended February 12, surpassing the average analysts’ forecast of $1.19 a share. Sales for the quarter climbed 3.9% to $1.2 billion from $1.16 billion. Same-store sales were flat.
AutoZone shares closed Wednesday at $98.33, up $1.00, or 1.03%. The stock added a penny in after-market trade.
Costco Wholesale Corporation (
COST: chart), the U.S. largest wholesale club operator, said Wednesday that its quarterly profits rose 35% from a year ago, fueled by a tax benefit. However, the results missed Wall Street’s projections, sending the company’s stock down in afternoon trading. Issaquah, Washington-based Costco announced net income of $305.5 million, or 62 cents a share, for its second quarter, in contrast to $226.8 million, or 48 cents a share, for the same period last year. Excluding items, earnings were $263.3 million, or 54 cents a share, a penny shy of the mean analysts’ forecast. Quarterly revenue climbed to $12.66 billion from $11.55 billion, a year ago.
The stock dipped 3.62% to close Wednesday at $45.02. Costco shares recovered 26 cents to $45.28 in after-hours trading.
Chico's FAS, Inc (
CHS: chart) of Fort Myers, Florida, on Wednesday rolled out fourth-quarter earnings of $32.9 million, or 18 cents per share, up 28.5% from $25.6 million, or 15 cents per share, generated for the prior-year equivalent. The women’s apparel retailer said results were due to higher sales, which surged 32.5% from a year ago to $286 million. Same-store sales were up 12.9%. However, the earnings missed the average analysts’ forecast of 20 cents per share.
Company shares closed Wednesday down 19 cents, or 1.26%, at $14.86.
Foot Locker, Inc. (
FL: chart) posted after market close Tuesday higher quarterly earnings that surpassed Wall Street’s expectations, driven by solid same-store sales growth, improving operating margins and a lower tax rate. The leading athletic apparel and shoe retailer rolled out net income of $89 million, or 57 cents per share, for the fourth quarter of fiscal 2004, a 21% increase compared to net income of $71 million, or 47 cents per share, a year ago. Analysts had forecast a profit of 54 cents per share, on average, for the quarter ended January 29, 2005. Quarterly sales advanced 15.1% to $1.54 billion from year-earlier sales of $1.33 billion. Comparable-store sales edged up 2.5%. For the full fiscal year, Foot Locker recorded net income of $293 million, or $1.88 a share, in contrast to net income of $207 million, or $1.39 a share, for 2003. Annual revenue rose to $5.36 billion from $4.78 billion.
For the first quarter, the New York-based company said it expects per share earnings to be near the high end of its growth range of 10% to 20%. Foot Locker added that, if the current sales trends continue, the earnings may exceed this guidance. For the first quarter last year, profit was 31 cents a share. Analysts predict earnings of 39 cents a share, which is a 26% growth.
Pacific Sunwear of California, Inc. (
PSUN: chart) reported Tuesday a 19% jump in its quarterly profits, boosted by higher sales. The Anaheim, California-based clothing retailer posted earnings of $40.9 million, or 54 cents a share, for its fiscal fourth quarter, up from $34.5 million, or 43 cents a share, for the prior-year equivalent. The earnings topped by a penny a share the mean analysts’ estimate. Sales for the quarter rose 16% to $379.9 million. Same-store sales in the company’s two retail chains, PacSun and d.e.m.o., climbed 4.8% and 7.5%, respectively. For all of 2004, earnings totaled $105.9 million, or $1.37 a share, on sales of $1.23 billion. That compares to $79.9 million, or $1.01 a share, on sales of $1.04 billion, last year.
Pall Corporation (
PLL: chart) of East Hills, New York, said Tuesday that its second-quarter net income jumped 29% to $32 million, or 26 cents per share, from prior-year net income of $24.9 million, or 20 cents per share, on higher sales. Excluding items, the manufacturer of filtration and separation systems earned $35.8 million, or 29 cents a share, in the second quarter, against earnings before items of $33.7 million, or 26 cents a share, in the 2004 corresponding period. The results fell 2 cents per share short of the average analysts’ forecast. Quarterly sales were up 9.5% from last year to $469.5 million.
Opsware Inc. (
OPSW: chart), the developer of data center automation software, announced Tuesday that it swung to a quarterly loss from a year-ago profit, hit by rising expenses. The company’s stock plunged in after-hours trading, as the company also forecast revenue below analysts’ views. Opsware said it had a net loss of $2.1 million, or 2 cents per share, in its fourth quarter, in contrast to a net profit of $632,000, or a penny a share, for the same period a year earlier. Revenues for the quarter surged to $11.6 million from $6.2 million, on strong demand.
For fiscal year 2006, Sunnyvale, California-based Opsware projected revenue of $53 million to $66 million, while analysts expect $65.7 million, on average.