Earning Scan: COST, LAYN, MEI, CIEN, SFD, CMTL, FLOW, PLL, SWHC, COO
Thursday, December 08, 2021 9:46 AM



Several companies declared their quarterly earnings before the opening bell, while many companies are scheduled to report their financial earnings after the closing bell today. Some notable earners are discussed here.

Costco Wholesale Corp. (Nasdaq: COST), which operates membership warehouses that offer a selection of branded and private label products in a range of merchandise categories in no-frills, self-service warehouse facilities, unveiled its fiscal 2012 first quarter earnings early today. Net income for the quarter was $320 million, or $0.73 per diluted share, compared to $312 million, or $0.71 per diluted share, for the first quarter of fiscal 2011. First quarter results were negatively impacted by a $24 million charge relating to the settlement of an income tax audit of the Company's 50 percent owned Mexico joint venture. The impact on net income attributable to Costco was $12 million, or $0.03 per diluted share. Analysts had estimated a net profit of $0.80 per share for the company. Net sales for the quarter increased thirteen percent to $21.18 billion from $18.82 billion during the first quarter of fiscal 2011. Inflation in gasoline prices and strengthening foreign currencies had a positive impact on comparable sales.

Layne Christensen Co. (Nasdaq: LAYN), a leading provider of drilling, water treatment, and construction services, and related products to water infrastructure and mineral exploration markets, announced its FY2012 Q3 earnings today. The company’s net income for the quarter increased 6.8 percent to $8.8 million, or $0.45 per diluted share, compared to $8.2 million, or $0.42 per diluted share last year. Analysts had estimated a net profit of $0.49 per share for the company. Its revenues for the quarter increased $25.1 million, or 9.3 percent, to $294.9 million from $269.8 million last year. Selling, general and administrative expenses increased 15.2 percent to $43.70 million for the three months ended October 31, 2011, compared to $37.93 million for the same period last year.

Methode Electronics Inc. (NYSE: MEI), a global developer of custom engineered and application specific products and solutions, declared its FY2012 Q2 earnings today. The company’s net income increased $0.8 million to $0.3 million, or $0.01 per share, in the second quarter of fiscal 2012 from a loss of $0.5 million, or $0.01 per share, in the same period of fiscal 2011. Analysts had estimated a net profit of $0.13 per share for the company. Methode's net sales increased $8.2 million, or 7.6 percent, to $115.9 million from $107.7 million in the same quarter of fiscal 2011. Selling and administrative expenses decreased $2.9 million, or 13.7 percent, to $18.3 million in the fiscal 2012 second quarter compared to $21.2 million in the prior-year second quarter due primarily to the absence of expense for unsecured claims compared to $3.8 million of expense in the fiscal 2011 period, partially offset by higher stock award amortization, higher legal expenses and the absence of a Malta grant. Selling and administrative expenses as a percentage of net sales were 15.8 percent for the fiscal 2012 second quarter compared to 19.7 percent in the same period last year.

Ciena Corp. (Nasdaq: CIEN), which provides communications networking equipment, software, and services that support the transport, switching, aggregation, and management of voice, video, and data traffic, declared its FY2011 Q4 earnings early today. For the quarter ended October 31, 2011, Ciena reported a loss of $22.3 million, or $0.23 a share, compared with a year-earlier loss of $80.3 million, or $0.86 a share. Excluding items such as amortization and share-based compensation, the company reported a loss of $0.03 a share, compared with a loss of $0.18 a share a year earlier. Analysts expected an adjusted profit of $0.06 a share. Revenue rose 9.1 percent to $455.5 million. The company in September predicted $440 million to $460 million in revenue, a view that was below analyst estimates at the time.

Smithfield Foods Inc. (NYSE: SFD), which is engaged in the production and marketing of fresh meat and packaged meats products in the U.S. and internationally, declared its FY2012 Q2 earnings today. The company reported net income in the current quarter of $120.7 million or $0.74 per diluted share, compared to net income of $143.7 million or $0.86 per diluted share last year. Analysts had estimated a net profit of $0.70 per share for the company. Sales for the second quarter of fiscal 2012 were $3.3 billion, up 10 percent, resulting from higher average unit selling prices and volumes in the pork segment.

Comtech Telecommunications Corp. (Nasdaq: CMTL), which , develops, produces, and markets products, systems, and services for communications solutions in the U.S., and internationally, is scheduled to declare its FY2012 Q1 earnings later today. Analysts estimate a net profit of $0.30 per share for the company. It has a market capitalization of $725.01 million with a P/E ratio of 13.93.

Flow International Corp. (Nasdaq: FLOW), which operates as a technology-based company providing waterjet cutting, surface preparation, and cleaning solutions in the U.S., Europe, Asia, and internationally, will declare its FY2012 Q2 earnings later today. Analysts estimate a net profit of $0.01 per share for the company. It has a market capitalization of $121.69 million with a P/E ratio of 70.83.

Pall Corp. (NYSE: PLL), which manufactures and markets filtration, purification, and separation products and integrated systems solutions worldwide, will declare its FY2012 Q1 earnings today. Analysts estimate a net profit of $0.65 per share for the company. It has a market capitalization of $6.20 billion with a P/E ratio of 20.18.

Smith & Wesson Holding Corp. (Nasdaq: SWHC), which provides products and services for safety, security, protection, and sports in the U.S. and internationally, will declare its FY2012 Q2 earnings later today. Analysts estimate a net loss of $0.04 per share for the company. It has a market capitalization of $204.82 million.

The Cooper Cos., Inc. (NYSE: COO), which develops, manufactures, and markets healthcare products serving the vision care and women’s healthcare markets worldwide, will unveil its FY2011 Q4 earnings today. Analysts estimate a net profit of $1.21 per share for the company. It has a market capitalization of $2.80 billion with a P/E ratio of 16.86.

 

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