Earnings Roundup: RIMM, FSII, FINL, SNX, HRB
Thursday, June 24, 2021 6:42 PM

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Research In Motion Ltd. (NASDAQ: RIMM) on Thursday reported higher first-quarter profit that beat Wall Street projections, while its revenue fell short of estimates. Net income climbed 20% to $768.9 million or $1.38 a share, from $643 million or $1.12 a share in the year-earlier quarter. Adjusted earnings totaled 98 cents per share in the latest quarter. Revenue surged 24% to $4.24 billion from $3.42 billion in the same quarter last quarter. Analysts, on average, expected the company to report earnings of $1.34 per share on revenue of $4.35 billion. BlackBerry smartphone shipments grew more than 43% over the same quarter last year to 11.2 million. The company said that it shipped its 100 millionth BlackBerry smartphone during the quarter. Looking ahead, the company said that it expects to report second quarter earnings in the range of $1.33 to $1.40 a share and revenue in the range of $4.4 billion to $4.6 billion. Analysts currently expect the company to report earnings of $1.31 per share on revenue of $4.50 billion for the second quarter.

"RIM achieved significant earnings growth and shipped a record 11.2 million devices during the first quarter, including its 100 millionth BlackBerry smartphone," said Jim Balsillie, Co-CEO at RIM. "We continue to be focused on growing our business globally and we believe that the range of exciting new BlackBerry products being released in the coming months will create significant opportunities to accelerate RIM's growth in the second half of the fiscal year."

Shares of the blackberry maker plunged 4.71% to $55.82 in extended trading.

FSI International, Inc. (NASDAQ: FSII) said Thursday that it swung to a third-quarter net income of $5.9 million, or 18 cents per share, compared with a net loss of $2.8 million, or 9 cents per share, in the prior year quarter. Revenue surged 86% to $28.7 million from $15.4 million. Analysts, on average, expected the company to report earnings of 16 cents per share on revenue of $28.13 million. Looking ahead, the company said that it expects to report fourth-quarter net income in the range of $5.0 to $6.0 million and revenue in the range of $27.0 to $30.0 million. The company expects fourth quarter orders of $27.0 to $30.0 million as compared to $29.5 million in the third quarter of fiscal 2010.

Shares of the company plunged 8.30% to $4.20 in after-hours trading.

The Finish Line, Inc.(NASDAQ: FINL) reported Thursday that its first-quarter net income jumped to $13.7 million, or 25 cents per share, from $1.8 million, or 3 cents per share, in the comparable quarter last year. Revenue rose 9% to $282.39 million from $259.09 million. Analysts expected revenues of $283.32 million for the quarter. Analysts, on average, expected the company to report earnings of 15 cents per share on revenue of $283.32 million.

"We are off to a strong start this fiscal year," said Finish Line Chief Executive Officer Glenn Lyon. "We posted a solid same-store sales increase and continued to make progress on effectively managing expenses as well as improving product margin and inventory efficiency. While customer traffic continues to be inconsistent, we will remain focused on our premium position in the marketplace and invest appropriately for continued growth."

Shares of Finish Line tumbled more than 4% in post-market trading.

Synnex Corp. (NYSE: SNX) said Thursday that its fiscal second-quarter net income climbed to $24.8 million, or 70 cents per share, compared to $17.4 million, or 51 cents per share, in the corresponding quarter last year. Revenue grew 12.8% to $2.03 billion from $1.80 billion. Analysts, on average, expected the company to report earnings of 68 cents per share on revenue of $2.06 billion. Looking ahead, the company said that it expects to report third quarter net income in the range of $25.8 million to $26.8 million and earnings per share in the range of 72 cents to 75 cents. Revenues are anticipated in the range of $2.05 billion to $2.15 billion. Analysts currently expect earnings of 75 cents per share on revenue of $2.17 billion for the third quarter. 

"Our team delivered excellent results for the second quarter of 2010. Our revenue, income and EPS were all in line with our increased quarterly guidance from May 4, 2010. Once again, SYNNEX has gained market share while expanding margins, growing EPS and ROIC," stated Kevin Murai, President and Chief Executive Officer.

Shares of the company rallied 4.06% to $26.42 in evening trade.

H&R Block, Inc. (NYSE: HRB) reported late Thursday that its fiscal fourth-quarter net income fell to $691 million, or $2.10 a share, from $707 million, or $2.08 a share, in the comparable quarter last year. Revenue fell to $2.34 billion from $2.47 billion. Analysts, on average, expected the company to report earnings of $2.04 per share on revenue of $2.34 billion. 

"Our business results reflect the challenging economic conditions of this tax season, caused by record levels of sustained unemployment that led to fewer returns being filed by our core retail tax client base," said Russ Smyth, H&R Block's president and chief executive officer. "Despite these difficult conditions, we were able to minimize the impact on consolidated net income. At the same time we positioned our business for future success by improving the overall client experience, increasing client retention rates and optimizing our operating cost structure," added Smyth.

Disclosure: Author doesn’t own any of the stocks discussed here.

 

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    Closest Estimates

User SymbolConsen EPSEstimate EPSActual EPS
Jim OPNT$0.10$0.09$0.07
XXXXX MNT$0.33$0.33$0.35
XXXXX OPNT$0.10$0.05$0.07
XXXXX PETM$0.33$0.33$0.34
XXXXX JBX$0.70$0.82$0.80
XXXXX HPQ$0.69$0.70$0.70
XXXXX OPNT$0.10$0.09$0.07
XXXXX CHUX$0.31$0.35$0.36
XXXXX HPQ$0.69$0.70$0.70
XXXXX CRM$0.01$0.00$0.01

    Recent Estimates

AnalystFirm NameSymbolEPS Estimate
XXXXXXXXXX VZ$0.56
Richard WXXXXX RIMM$1.34
mikeXXXXX RIMM$1.34
XXXXXXXXXX PIR($0.02)
joe blowXXXXX DLM$0.22
XXXXXXXXXX INTC$0.43
klineXXXXX Q$0.09
XXXXXXXXXX EK($0.31)
asdasd asd DRYS$0.23
XXXXXXXXXX AMAT$0.21