YUM! Brands, Inc. (
YUM: chart) posted after market close Tuesday quarterly earnings that increased 13% from a year earlier, helped by strong international sales and improved performance at its KFC restaurants. The Louisville, Kentucky-based fast-food giant turned in net income of $185 million, or 61 cents a share, for the third quarter of fiscal 2004, up from net income of $164 million, or 53 cents a share, last year. The earnings topped by a penny a share the consensus analysts’ estimate. For the quarter ended September 4, total revenue climbed 9.5% to $2.18 billion from $1.99 billion, for the 2003 comparable period. Analysts had been expecting revenue of $2.13 billion in the third quarter. Yum said international operating profits jumped 25% in the quarter to $143 million, driven by sales growth in China and the United Kingdom, the company’s key overseas markets. System same-store sales were up 4% in the United States. KFC reported a 2% rise in same-store sales, snapping a decline streak.
For the full year, Yum said it now expects a profit, excluding items, of $2.35 per share, 2 cents higher than its previous forecast.
Yum shares gained 63 cents on Tuesday to $41.50. The stock added 38 cents to $41.88 in extended trading.
Apollo Group, Inc. (
APOL: chart) of Phoenix, Arizona, said after the bell Tuesday that it swung to a net loss of $104.7 million, or 59 cents per share, in its fiscal fourth quarter, from a prior-year net profit of $65.5 million, or 37 cents per share. The for-profit education company said the 2004 fourth-quarter results included expenses associated with the conversion of outstanding shares of University of Phoenix Online common stock to Apollo Education Group Class A common stock and a non-cash stock-based compensation charge of $123.5 million related to the conversion of University of Phoenix Online stock options into Apollo Education Group Class A stock options. Excluding those, the company reported a profit of $93.1 million, or 52 cents a share, for the fourth quarter, beating the average analysts’ estimate of 48 cents per share. Quarterly revenue surged 32.7% to $492.8 million, driven by a 28% rise in enrollment.
Company shares rose 2.39% to close Tuesday at $76.21. The stock dropped 5 cents to $76.16 in after-market trade.
Acuity Brands, Inc. (
AYI: chart) announced Tuesday a big rise in its quarterly profits, boosted by strong demand and a lower tax rate. The Atlanta, Georgia-based manufacturer of lighting products and specialty chemicals posted fourth-quarter net earnings of $26.8 million, or 62 cents a share, compared with $14.3 million, or 34 cents a share, for the 2003 corresponding quarter. Sales for the quarter ended August 31 rose 5.6% to $563.4 million. The company said lower operating expenses also helped lift its profits.
The stock closed Tuesday at $26.30, up $1.01, or 3.99%.
Richelieu Hardware Ltd. ((RCH.TO)) on Tuesday rolled out a profit of C$7.1 million ($5.6 million), or 31 Canadian cents a share, for its fiscal third quarter, a 20% increase from a profit of C$5.9 million, or 26 Canadian cents a share, for the same period a year ago. The Saint-Laurent, Canada-based distributor of specialty hardware cited acquisitions as principal contributor for the results. Sales in the quarter climbed 21% to C$86 million from C$71 million, in 2003.
Company shares added 40 Canadian cents to close Tuesday at C$21.50 on the Toronto Stock Exchange.
Delphi Corporation (
DPH: chart) of Troy, Michigan, reduced Tuesday its quarterly financial guidance, hurt by lower vehicle production and higher material costs. The world’s top maker of auto parts said that it now sees a net loss of $113 million to $120 million for its third quarter, in contrast to an earlier outlook for a net loss of $10 million to $40 million. Excluding charges, loss is expected to come between $65 million and $72 million.
The stock closed Tuesday down 5 cents, or 0.53%, at $9.31. Company shares plunged 5.48% to $8.80 in the extended session.
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.
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.
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.
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.
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.