Toys ''R'' Us, Inc. (
TOY: chart) posted before the bell Monday a wider quarterly loss, citing weak performances at its U.S. toy stores and freestanding Kids “R” Us stores. The second largest toy retailer in the U.S. reported a net loss of $38 million, or 18 cents per share, for its fiscal 2004 third quarter, compared with a loss of $27 million, or 13 cents per share, a year ago. Excluding a charge for an accounting change, the Wayne, New Jersey-based company posted a loss of $27 million, or 13 cents per share. Analysts had forecast a loss before items of 9 cents a share. For the quarter ended November 1, revenue rose 2.2% to $2.32 billion from $2.27 billion, in the same period a year ago. The company said sales were flat excluding a boost from currency exchange rates.
Toys ''R'' Us cut its full-year earnings outlook and now expects to earn between $1.05 per share to $1.15 per share, down from its previous guidance of $1.15 per share.
Company shares plummeted 12.24% on Monday to $11.18. The stock inched up 4 cents to $11.22 in after-market trade.
Agilent Technologies, Inc. (
A: chart) said after market close Monday it swung to a profit in its fourth quarter, helped by lower costs and expenses. The Palo Alto, California-based top supplier of electronic test and measurement products reported earnings of $13 million, or 3 cents a share, for the quarter ended October 31, reversing a prior-year loss of $236 million, or 51 cents a share. Revenue slipped to $1.67 billion from $1.74 billion, in the year-earlier quarter. For the fiscal year ended October 31, Agilent posted a loss of $2.1 billion, or $4.35 a share, in contrast to a loss of $1 billion, or $2.22 a share, last year.
Agilent shares gained 14 cents to $26.75 at market close Monday. The stock soared 6.73% to $28.55 in after-hours trading.
Bolstered by strong sales,
Lowe's Companies, Inc. (
LOW: chart) of Wilkesboro, North Carolina, posted Monday a third-quarter profit of $452 million, or 56 cents per share, a 33% increase from $339 million, or 43 cents per share, generated a year ago, and 3 cents ahead of the average analysts’ estimate. The world's No.2 home improvement retailer said sales surged 24% in the third quarter to $7.92 billion from $6.42 billion, in the 2003 equivalent.
The stock dipped 1.23% on Monday to $57.91. Company shares added 9 cents to $58.00 in after-hours trading.
Jo-Ann Stores, Inc. (
JAS: chart), the U.S. largest fabric retailer, said Monday its fiscal 2004 third-quarter net earnings rose to $12.0 million, or 54 cents a share, from $8.9 million, or 40 cents a share, last year, on stronger sales. The Hudson, Ohio-based company said net sales were up 4% to $447.5 million from $430.1 million, in the 2003 third quarter.
Company shares shed 83 cents to close Monday at $24.62. The stock plummeted 11.86% to $21.70 in after-market trade.
Kulicke and Soffa Industries, Inc. (
KLIC: chart) of Willow Grove, Pennsylvania, said Monday it narrowed its fourth-quarter loss, including charges, to $28.4 million, or 57 cents a share, from $195 million, or $3.95 a share, in the 2002 comparable period. The company, which is the world’s top provider of assembly equipment for the semiconductor industry, attributed the results to an improved semiconductor market. Revenue rose 5.8% to $129.3 million from $122.2 million, a year ago.
The stock surged 6.02% on Monday to $16.90. Company shares dropped 10 cents to $16.80 in after-hours trading.
World Wrestling Entertainment, Inc. (
WWE: chart) posted Monday a third-quarter net profit of $17.1 million, or 25 cents a share, swinging from a net loss of $1.6 million, or 2 cents a share, in the prior year. The Stamford, Connecticut-based media and entertainment company said it benefited from higher pay-per-view income and television rights fees. Revenue was up to $94.4 million, from $90.3 million, a year earlier.
Company shares closed Monday up 24 cents, or 2.22%, at $11.05.
Innovative Companies, Inc. (
GORX: chart) of Largo, Florida, announced Monday a second-quarter profit of $656,000, or 8 cents per share, up from a profit of $275,000, or 4 cents per share, in the same quarter last year. The health products company said increased manufacturing sales volumes boosted the results. Sales leapt to $6.1 million from $3.3 million, a year earlier.
The stock was catapulted up 13.46% on Monday to $4.89. Company shares added 8 cents to $4.97 in after-market trade.
ATI Technologies Inc. (
ATYT: chart) raised Monday its first-quarter earnings guidance, boosted by increased demand for its personal-computer products. The Ontario, Canada-based maker of computer graphics chips and boards now views adjusted first-quarter net earnings at 16 cents to 20 cents a share, on revenue of between $440 million and $470 million. The company’s previous forecast was for profit of 12 cents a share, on revenue of $400 million to $430 million.
Company shares dropped 11 cents to close Monday at $13.85. The stock rocketed up 10.90% to $15.36 in after-hours trading.
MedImmune, Inc. (
MEDI: chart), the Gaithersburg, Maryland-based drug maker, cut Monday its fourth-quarter earnings outlook, citing lower-than-expected sales of the vaccine FluMist. The company now expects to report net profit of 26 cents to 34 cents a share, down from its earlier forecast of 42 cents to 47 cents a share. Fourth-quarter revenue is expected to range from $385 million to $445 million, in contrast to the previously projected $450 million to $500 million.
The stock closed Monday unchanged at $25.58. Company shares fell 13 cents to $25.45 in after-market trade.
Imation Corp. (
IMN: chart) of Oakdale, Minnesota, reiterated Monday that it expects to post a fourth-quarter profit from continuing operations of 45 cents to 52 cents per share. The forecast of the company, which is a maker of data-storage products, matches its previous guidance.