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Earnings Analysis: 
Thor Industries Powers Up
Author: George Shopov
123jump.com



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Maker of recreational vehicles and mid-size buses Thor Industries Inc. reported Monday that its quarterly earnings increased 44% from last year, on the back of stronger sales.

 
Thor Industries, Inc. (THO: chart) announced Monday a 44% jump in its quarterly profits, driven by surging sales. The Jackson Center, Ohio-based maker of recreational vehicles posted net earnings of $32.1 million, or 56 cents per share, on sales of $625.1 million, for the fourth quarter of fiscal 2004 ended July 31. The earnings were 3 cents per share ahead of the average analysts’ forecast. For the 2003 corresponding period, Thor had net income of $22.3 million, or 39 cents per share, on sales of $422.5 million. Sales of recreational vehicles leapt 56% in the 2004 fourth quarter to $571.7 million from $367.1 million, last year. However, bus sales eased to $53.5 million from $55.4 million. For the full fiscal year, the company announced a profit of $106.1 million, or $1.85 per share, up from a profit of $78.6 million, or $1.38 per share, in fiscal year 2003. Annual sales increased to $2.19 billion from $1.57 billion.

The stock closed Monday at $27.70, up 4 cents, or 0.14%.

Siebel Systems, Inc. (SEBL: chart) said Monday that its quarterly results will surpass analysts’ estimates, aided by improving licensing revenue. The San Mateo, California-based software company projected revenue of $315 million to $317 million for its fiscal third quarter ended September 30, compared with analysts’ expectations of $306 million. Fort he prior-year period, the company recorded revenue of $321 million. Software license fees are expected to come between $104 million and $105 million. Analysts forecast licensing revenue of $96 million in the quarter. Siebel said that it sees third-quarter operating income of $24 million to $26 million, including $11 million in charges.

Company shares rocketed up 14.04% to close Monday at $9.34. The stock added 6 cents to $9.40 in extended trading.

Vignette Corporation (VIGN: chart) of Austin, Texas, on Monday forecast a net loss of 4 cents per share for its fiscal third quarter, on revenue of $42 million to $42.5 million. Excluding items, the developer of content management software said it expects a loss of 2 cents per share. Analysts are looking for a loss of 1 cent per share, on revenue of $46.7 million.

The stock inched up 3 cents to $1.37 at market close Monday. Company shares plunged 8.03% to $1.26 in after-market trade.

Ruby Tuesday, Inc. (RI: chart) posted Monday quarterly earnings that matched its previously lowered outlook. The Maryville, Tennessee-based restaurant chain reported net income of $29.3 million, or 44 cents a share, for its fiscal 2005 first quarter, up from $24.5 million, or 37 cents a share, generated last year. The results were in line with analysts’ estimates. Quarterly revenue rose to $267.5 million from $249.9 million, a year ago.

Company shares shed 28 cents on Monday to $27.40. The stock dipped 3.98% to $26.31 in the extended session.

Concord Camera Corp. (LENS: chart) of Hollywood, Florida, reported Monday that it swung to a quarterly loss from a year-earlier profit, hurt by lower-than-expected production volumes and manufacturing inefficiencies, as well as pricing pressures from competitors. The camera maker announced a fourth-quarter net loss of $10.1 million, or 36 cents per share, in contrast to a net profit of $1.7 million, or 6 cents per share, a year ago. Revenue for the quarter slipped 14.8% to $52.4 million from $61.5 million, for the same period in 2003.

The stock closed Monday unchanged at $1.88.

Research in Motion Limited (RIMM: chart) posted after the bell Thursday a huge rise in its quarterly profits, driven by surging demand for its BlackBerry wireless e-mail device. The Waterloo, Canada-based technology giant announced net earnings of $70.6 million, or 36 cents a share, for its fiscal 2005 second quarter, in contrast to net earnings of $2.1 million, or a penny a share, for the year-earlier equivalent. Excluding items, profits totaled $88.9 million, or 45 cents a share, for the quarter ended August 28, surpassing the consensus analysts’ estimate of 43 cents a share. Revenue for the quarter was $310.2 million, which represents a 147% leap from revenue of $125.7 million, last year. RIM said the revenue breakdown for the quarter was approximately 71% for handhelds, 18% for service, 8% for software licences and 3% for other revenue.

PepsiCo, Inc. (PEP: chart) reported Thursday higher quarterly earnings, boosted by tax benefits and increased volume. The world’s No.2 soft-drink maker posted net income of $1.36 billion, or 79 cents per share, for the third quarter of fiscal 2004, up from net income of $1.01 billion, or 58 cents per share, a year ago. Excluding extraordinary items, the company had earnings of $1.14 billion, or 66 cents per share, in the quarter. The results were a penny a share above Wall Street’s average forecast. For the quarter ended September 4, Purchase, New York-based PepsiCo recorded revenue of $7.26 billion, a 6% increase from $6.83 billion, for the third quarter of fiscal 2003. For the first nine months of the year, net earnings came to $3.22 billion, or $1.86 per share, including the tax benefits. For the 2003 comparable period, the company earned $2.65 billion, or $1.53 per share.

Family Dollar Stores, Inc. (FDO: chart) of Matthews, North Carolina, announced Thursday a fourth-quarter profit of $43 million, or 26 cents per share, down 9.9% from $47.7 million, or 28 cents per share, generated in the prior-year quarter. The earnings matched analysts’ expectations. The discount retailer cited weaker-than-expected sales of more discretionary merchandise, such as hanging apparel and domestics, and additional markdowns as main factors for the profit drop. Sales in the quarter rose to $1.32 billion from $1.21 billion, last year.

Constellation Brands, Inc. (STZ: chart) on Thursday rolled out net income of $80.6 million, or 69 cents per share, for its second quarter, compared with net income of $35.6 million, or 34 cents per share, a year earlier. Excluding items, the Fairport, New York-based producer and marketer of beverage alcohol brands posted a profit of $82 million, or 71 cents per share, for the quarter ended August 31, topping by a penny a share the mean analysts’ estimate. Quarterly sales climbed 14% to $1 billion. The company attributed the results to higher sales of imported beer and favorable currency exchange rates.

Charles River Associates, Inc. (CRAI: chart) of Boston, Massachusetts, said Thursday that its quarterly earnings jumped 59%, bolstered by strong revenue growth. The business consulting firm reported third-quarter income of $5.4 million, or 52 cents per share, compared with year-earlier income of $3.4 million, or 34 cents per share. Analysts were looking for a profit of 45 cents per share, on average. Quarterly revenue surged 50% to $74.2 million from $49.4 million, driven by strong performance at the recently acquired InteCap Inc.
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