Earning Plays

[3xBuBu]

Thursday, Aug. 28
PetSmart second-quarter net income dips to 30 cents a share (4:20 pm ET)
SAN FRANCISCO (MarketWatch) -- PetSmart Inc. (PETM: news, chart, profile) late Thursday reported its fiscal second-quarter net income fell to $37.2 million, or 30 cents a share, from a net income of $47.1 million, or 35 cents a share, in the same quarter last year. Revenue increased to $1.24 billion from $1.12 billion a year earlier, said the nation's largest retailer of pet goods. Comparable store sales, a key retailing metric, rose 4% from a year ago. Analysts surveyed by FactSet Research had forecast the company to earn 29 cents a share on revenue of $1.22 billion. The company expects third-quarter earnings of 25 cents to 29 cents a share with comparable stores sales growth of mid-single digits. Analysts are forecasting the company to earn 27 cents a share in the third quarter. In 2008, the company is projecting earnings of $1.51 to $1.59 a share while sales are likely to rise by high single digits to low double digits. Same-store sales are expected to expand by mid-single digits.
Novell posts widened third-quarter loss(4:20 pm ET)
SAN FRANCISCO (MarketWatch) -- Novell Inc. on Thursday posted a widened fiscal third-quarter loss, citing a $15 million charge related to "auction-rate securities." Waltham, Mass.-based Novell said its net loss in the period ended in July grew to $15.1 million, or 4 cents a share, from $3.7 million, or a penny a share in the same period a year earlier. Novell (NOVL: news, chart, profile) , a provider of open source software for businesses, said net revenue rose to $245.2 million from $236.8 million. Excluding special items, Novell said income from continuing operations for the quarter rose to 6 cents a share from 5 cents a share. Analysts on average had estimated that Novell would report third-quarter earnings of 3 cents a share, and $240.4 million in revenue, according to FactSet Research.
Dell reports 17% earnings decline(4:05 pm ET)
SAN FRANCISCO (MarketWatch) -- Dell Inc. (DELL: news, chart, profile) on Thursday reported a fiscal second-quarter profit of $616 million, or 31 cents a share, on $16.43 billion in revenue. Analysts surveyed by FactSet Research had forecast Dell to earn 36 cents a share on sales of $15.97 billion. During the same period a year ago, Dell earned 33 cents a share on revenue of $14.77 billion.
TD Bank sees its quarterly profit fall(7:55 am ET)
NEW YORK (MarketWatch) - TD Bank Financial Group (TD: news, chart, profile) saw third quarter profits drop to C$997 million (US$955 million), or C$1.21 a share, from C$1.12 billion, or C$1.51 a share for the same period last year. Analysts polled by FactSet Research estimated, on average, profits of US$1.42 (C$1.48) a share. Profits for the first nine months of the year are C$2.82 billion, compared to C$2.90 billion for the same period last year. Third quarter adjusted earnings per share were C$1.35, compared with C$1.60 in 2007.
Williams-Sonoma posts profit decline, cuts forecast(7:27 am ET)
NEW YORK (MarketWatch) -- Williams-Sonoma Inc. (WSM: news, chart, profile) said Thursday that its second-quarter profit fell to $18.4 million, or 17 cents a share, from $26.0 million, or 23 cents a share, in the year-earlier period. Excluding a 9-cent benefit related to the sale of a company aircraft, earnings would have been 8 cents a share. Sales declined to $819.6 million from $859.4 million. Analysts, on average, had expected profit of 9 cents a share on sales of $832.9 million, according to FactSet Research. Citing a weak economy, the retailer cut its third-quarter profit forecast to a range of breakeven to 4 cents a share, from its prior view of 17 cents to 23 cents a share. For the full year, it expects earnings of $1.03 to $1.15 a share; the previous guidance was $1.45 to $1.58 a share.
Wimm-Bill-Dann second-quarter profit climbs to $36.7 million(7:20 am ET)
NEW YORK (MarketWatch) -- Wimm-Bill-Dann Foods (WBD: news, chart, profile) said Thursday its first-half profit totaled $78.6 million, or $1.79 a share, from $65.8 million, or $1.50 a share, in the same quarter a year before. On a quarterly basis, the Russian dairy and juice maker's profit totaled $36.7 million, up from $33.7 million a year earlier. Revenue for the quarter was 760 million compared to $605 million in the year-ago period. For the first half, sales rose to $1.49 billion from $1.15 billion in the first six months of 2007.
VimpelCom 2nd-quarter net rose 31%, revenue up 52%(6:58 am ET)
TEL AVIV (MarketWatch) -- VimpelCom, (VIP: news, chart, profile) the Moscow telecommunications-service provider, reported second-quarter net income rose 31% on 52% higher revenue. Earnings reached $470 million, or 46 cents an American depositary share, from $359 million, or 35 cents, in the year-earlier period. Three analysts surveyed by FactSet Research produced a consensus estimate of 44 cents an ADS. Revenue rose to $2.61 billion from $1.72 billion. The earnings reflect a 13% rise in mobile-service subscribers, to 43.7 million, and 610,000 broadband subscribers.
Bank of China posts 43% rise in first-half net income(5:50 am ET)
HONG KONG (MarketWatch) -- Bank of China Ltd. (HK:3988.HK: news, chart, profile) , one of China's big four state lenders, Thursday posted a 43% rise in first-half net income from a year earlier, helped by strong growth in non-interest income. Net profit climbed to 42.18 billion yuan ($6.2 billion) from 29.54 billion in the year-earlier period. Average forecasts were 41.36 billion yuan, according to analysts polled by Dow Jones Newswires. The bank said its first-half net interest income rose 15% to 81.52 billion yuan from 71.03 billion a year earlier, while income from fees and commissions totaled 37.34 billion yuan, nearly double the 18.76 billion yuan a year earlier.
Air Berlin profit up 38%, sees further cost savings(2:48 am ET)
LONDON (MarketWatch) -- Air Berlin (DE:AB1000: news, chart, profile) said Thursday that its second-quarter net profit rose 38% to 8.3 million euros ($12.2 million) as revenue for the quarter grew 6.7% to 869.5 million euros. The group said earnings before interest and taxes fell to 13.8 million euros from 18.7 million euros due to the impact of transaction costs and consultancy fees related to the cancellation of the Condor acquisition as well as the high start-up costs of its routes to China. The group added that its program for increasing capacity utilization and yields is continuing to have a positive effect and it sees the potential for saving a further 35 million euros by year-end.
Diageo profit rises 2%, sticks to growth target(2:40 am ET)
LONDON (MarketWatch) -- U.K. drinks group Diageo (UK:DGE: news, chart, profile) said Thursday that its net profit for the fiscal year ended June 30 rose 2% to 1.52 billion pounds ($2.78 billion) as net sales grew 8% to 8.09 billion pounds. The group said the main driver of growth was its international unit, where sales rose 16% thanks to strong sales of scotch in Latin America and beer in Africa. European sales rose 3% and in Asia Pacific sales added just 2% after the group lost its Korean licence for part of the year. Diageo said Price rises and an improvement in the sales mix helped cover rising input costs and gross margin has improved. Diageo said it expects to deliver organic operating profit growth for the coming year within its target range of 7% and 9% as well as double-digit growth in reported earnings per share.
Aer Lingus swings to loss, sees tough end to year(2:30 am ET)
LONDON (MarketWatch) -- Irish airline Aer Lingus Group (UK:AERL: news, chart, profile) said Thursday that it swung to a first-half net loss of 20.6 million euros ($30.3 million) from a profit of 6.8 million euros following a sharp rise in fuel costs. The group said overall revenue grew 10.4% to 606.2 million euros, helped by a 10.5% rise in the number of passengers and strong growth in ancillary revenue per passenger. The group said that even with the reduction in fuel prices in recent weeks, competitive pressure on fares and volumes will continue and it expects to at best break even in the second half of the year. "It is now clear that we will require further fundamental changes in our operating cost base in order to minimise losses in 2009 and to help ensure the long term viability of the business," the group added.
Ahold 2nd-quarter net off; continuing ops up 4.1%(2:26 am ET)
TEL AVIV (MarketWatch) -- Ahold, (AHONY: news, chart, profile) (NL:03325: news, chart, profile) the Amsterdam supermarket operator, reported second-quarter net income fell 85% due to a year-earlier gain on the divestiture of its U.S. food-service and its Polish operations. Earnings from continuing operations rose 4.1%. Net income fell to 338 million euros, or 0.28 euro a share, from 2.23 billion, or 1.4 euros, in the year-earlier period. Continuing operations generated profit of 0.15 euro a share, up from 0.11. Shares outstanding fell 22% to 1.24 billion. Sales slipped 0.8% to 5.78 billion euros from 5.83 billion. Ahold affirmed its 2008 target of an operating-profit margin of 4.8% to 5.3%.
Toyota cuts 2009 sales forecast to 9.7 million vehicles(2:17 am ET)
HONG KONG (MaketWatch) -- Toyota Motor Corp. (JP:7203: news, chart, profile) (TM: news, chart, profile) Thursday cut its 2009 vehicle sales forecast by 6.7% due to a sharp downturn in the U.S. and Western European markets, according to media reports. The automobile giant now expects to sell 9.7 million vehicles in 2009, compared with its previous forecast of 10.4 million vehicles, the reports added. "We are looking at the current shift towards fuel-efficient cars [in the U.S.] as a structural change in demand," said Toyota President Katsuaki Watanabe at a news conference in Tokyo, according to Reuters. "We intend to respond quickly and flexibly to this environment." Toyota shares ended unchanged in Tokyo trading.
China Telecom first-half net drops 4% from year earlier(2:04 am ET)
HONG KONG (MarketWatch) -- China Telecom Corp. (HK:728: news, chart, profile) (CHA: news, chart, profile) Thursday reported a 4% decline in first-half profit due to a sharp decline in the number of its fixed-line customers. Net income fell to 11.61 billion yuan ($1.69 billion), or 0.14 yuan a share. Operating revenues were flat at 90.43 billion yuan. During the six-month period ended June 30, China Telecom lost 5.44 million access lines, bringing the total number of lines serviced to 215 million. The company added 4.3 million broadband subscribers, taking the total number of Internet service customers to 39.95 million. China Telecom shares tumbled 4.7% in Hong Kong.
Wednesday, Aug. 27
AMP posts 22% decline in first-half profit on weak markets(10:45 pm ET)
HONG KONG (MarketWatch) -- Australian pension fund provider AMP Ltd (AU:AMP: news, chart, profile) said Thursday first-half net income declined 22% as investor fund flows into managed products declined and weak investment markets knocked down the value of the firm's investments. Net profit fell to A$366 million ($314 million), from A$470 million a year earlier. The company said it wrote down A$49 million in investment losses and set aside A$41 million against potential losses against fixed income assets that back its annuities portfolio. AMP also said the value of its assets under management fell 9% to A$117 billion in the half-year period from a year ago. Investment inflows into the firm's managed funds fell 69% to A$760 million from a year earlier, while net inflows into its externally managed funds were down 74% to A$369 million. AMP said 57% of it managed funds met or exceeded performance benchmarks, falling short of its 75% target.
Men's Wearhouse second-quarter net income slides (4:32 pm ET)
SAN FRANCISCO (MarketWatch) -- Men's Wearhouse Inc. (MW: news, chart, profile) late Wednesday reported its fiscal second-quarter net income fell to $32.8 million, or 63 cents a share, from a net income of $54.2 million, or $1 a share in the same quarter last year. Excluding costs related to the closure of its Canadian manufacturing facility, the company would have earned 72 cents a share. Revenue slid to $545.3 million from $569.3 million a year earlier. Same-store sales fell 7.8% in the quarter, compared with a gain of 3.7% in the year earlier period, said the retailer. Analysts surveyed by FactSet Research had forecast the company to earn 71 cents a share on revenue of $553.2 million. The company expects earnings of 34 cents to 38 cents a share and adjusted earnings of 36 cents to 40 cents a share in the third quarter, based on expectations that same-store sales will decrease by high single digit range. Analysts are forecasting the company will earn 53 cents a share in the third quarter. In fiscal 2008, the company is projecting earnings of $1.38 to $1.48 a share and adjusted earnings of $1.50 to $1.60 a share.