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Earnings Analysis: 
Helmerich & Payne Posts Higher Profit
Author: 123jump.com Staff
123jump.com
Last Update: 1:42 PM EST November 16 2006



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Helmerich & Payne quarterly earnings increased, including a gain from the sale of portfolio securities. Stein Mart third-quarter profit decreased 83%, hurt by higher expenses. Williams-Sonoma third-quarter net earnings declined 21% as the sales at Pottery Barn and other home furnishing brands were hurt by housing market slowdown. Sears Holdings reported quarterly profit more than tripled helped by gains from some risky investments, cost cutting and improved demand for clothing.

 
Helmerich & Payne Inc. (HP: chart), drilling rigs, equipment, personnel, and camps provider, said that its fourth-quarter earnings rose to $98.5 million, or 93 cents per share, compared with a year-ago profit of $36.1 million, or 34 cents per share. Revenue climbed to $358.8 million from $233.2 million in the same period a year earlier. Helmerich & Payne announced that it had signed separate three-year term agreements with three exploration and production companies to operate a total of seven new FlexRigs.

Stein Mart Inc. (SMRT: chart), discount retailer, said that its third-quarter earnings declined to $237,000, or a penny per share, versus a year-ago profit of $1.4 million, or 3 cents per share. Sales bounded 0.8% higher to $339.2 million from $336.5 million a year earlier. Same-store sales at the Jacksonville, Fla., fashion merchandise retailer climbed 0.2% for the latest quarter.

Williams-Sonoma Inc. (WSM: chart), home furnishings retailer, reported third-quarter net income of $29.1 million, or 25 cents per share, compared with $37.1 million, or 31 cents per share, in the year-ago period. Non-GAAP earnings declined to 29 cents per share from 31 cents per share a year earlier. Revenue increased 3% to $852.8 million from $827.6 million last year.

Sears Holdings Corp. (SHLD: chart), operates as a retailer, reported third-quarter net income of $196 million, or $1.27 per share, compared with $58 million, or 35 cents per share in the same quarter a year ago. Excluding items, the company earned 83 cents per share versus 48 cents per share in the year-ago period. Total revenue declined to $11.94 billion from $12.2 billion.
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