Earnings Roundup: DIS, LDK, CREE, SPWRA, MYGN, CFN, STRI
Tuesday, August 10, 2021 7:39 PM

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Walt Disney Co. (NYSE: DIS) said Tuesday that its fiscal third-quarter profit jumped 40%, boosted by strong performance at its television networks and movie studio divisions. Net income rose to $1.33 billion or 67 cents a share, from $954 million or 51 cents a share in the year-earlier quarter. Revenue jumped 16% to $10 billion.  Analysts, on average, expected the company to report earnings of 58 cents per share on revenue of $9.37 billion.

LDK Solar (NYSE: LDK) reported late Tuesday that it swung to second-quarter net income of $45 million, or 36 cents per American Depositary share, from a loss of $216.9 million, or $2.03 per ADS, in the year-ago quarter. Revenue surged 147.6% to $565.3 million from $228.3 million. Analysts, on average, expected the company to report earnings of 22 cents per share on revenue of $458.40 million. Looking ahead, the company said it expects to report third quarter revenue in the range of $570 million to $600 million. Analysts currently expect revenues of $422.04 million. For the full-year 2010, the company boosted its revenue outlook to a range of $1.95 billion to $2.0 billion, up from its prior forecast in the range of $1.6 billion to $1.7 billion. Analysts currently anticipate revenue of $1.59 billion. LDK shares rallied more than 5% in after-hours trading.

Cree Inc. (NASDAQ: CREE) said Tuesday that its fiscal fourth-quarter net income jumped to $52.8 million, or 48 cents a share, from $9.7 million, or 11 cents a share, in the prior-year quarter. On an adjusted basis, the company earned 55 cents a share in the latest quarter. Revenue surged 79% to $264.60 million. Analysts, on average, expected the company to report earnings of 51 cents per share on revenue of $264.00 million. For its first quarter of fiscal 2011 ending September 26, 2010, Cree targets revenue in a range of $270 million to $280 million with GAAP net income of $52 million to $56 million, or 48 cents to 51 cents per share. Non-GAAP net income is targeted to increase quarter-over-quarter to a range of $62 million to $65 million, or 56 cents to 59 cents per share. Analysts currently expect earnings of 54 cents per share for the quarter on revenues of $283.96 million. Shares of the company plunged more than 8% in extended trading.

SunPower Corp. (NASDAQ: SPWRA) reported that it swung to a second quarter loss of $6.2 million, or 6 cents per share, compared to a profit of $14.3 million, or $0.15 per share, in the same quarter a year-ago. Adjusted earnings for the quarter totaled $0.15 per share, compared to $0.09 per share in the year-ago quarter. Revenue increased to $384.2 million from $299.3 million. Analysts, on average, expected the company to report earnings of 10 cents per share on revenue of $401.17 million. Looking ahead to the third quarter, the company expects GAAP loss per share in the range of $0.27 to $0.20 and non-GAAP earnings per share in the range of $0.08 to $0.15. Revenue for the period is anticipated in the range of $450 to $490 million. Analysts currently expect earnings of $0.13 per share on revenues of $458.12 million for the quarter. For the fiscal year 2010, the company anticipates GAAP earnings per share in the range of $0.25 to $0.55 and non-GAAP earnings per share in the range of $1.35 to $1.65. Revenue for the period is expected in the range of $2.0 billion to $2.2 billion. Analysts currently expect earnings of $1.28 per share on revenues of $2.10 billion. Shares of the solar panel maker climbed more than 3% in evening trading.

Myriad Genetics Inc. (NASDAQ: MYGN) said that its fiscal fourth-quarter net income climbed to $53.3 million, or 54 cents per share, from $23.6 million, or 24 cents per share, in the comparable quarter last year. Revenue grew 9% to $93.9 million from $86.1 million. Analysts, on average, expected the company to report earnings of 33 cents per share on revenue of $93.48 million. Looking ahead to fiscal 2011, the company expects to report earnings in the range of $0.95 to $1.00 per share on revenues of $380 million to $400 million. Analysts currently expect earnings of $1.08 per share on revenues of $409.30 million for fiscal 2011. Shares of the molecular diagnostics company slumped more than 3% in late trading.

CareFusion Corporation (NYSE: CFN) said Tuesday that its fiscal-fourth quarter profit dropped to $52 million, or 23 cents per share, from $96 million, or 44 cents per share, in the year-ago period. On an adjusted basis, the company earned 38 cents per share in the latest quarter. Revenue rose 19% to $1.04 billion from $867 million. Analysts, on average, expected the company to earn 37 cents per share on revenue of $1.02 billion. For the fiscal year ending June 30, 2011, CareFusion expects revenues to grow on a percentage basis by mid single digits compared to fiscal 2010 revenue of $3.9 billion, and in line with the company's long term guidance. On a constant currency basis, revenue is expected to grow mid-to-high single digits. Adjusted diluted earnings per share for fiscal 2011 are expected to be in the range of $1.58 to $1.68, an increase of 11 to 18 percent. Analysts currently expect earnings of $1.62 per share on revenues of $4.14 billion for fiscal 2011.

STR Holdings, Inc. (NYSE: STRI) reported late Tuesday that its second-quarter net income surged to $15.0 million, or 36 cents per share, from $3.1 million, or 8 cents per share, in the same quarter last year. On an adjusted basis, the company earned 44 cents per share in the latest quarter. Consolidated net revenue jumped 62.3% to $96.7 million from $59.6 million. Analysts, on average, expected the company to report earnings of 34 cents per share on revenue of $90.99 million. Looking ahead to the third quarter, the company said that it expects adjusted earnings in the range of 32 cents to 37 cents per share on revenue of $85.0 million to $93.0 million. Analysts currently expect earnings per share of 29 cents per share on revenue of $80.79 million. The company also boosted its forecast for fiscal 2010. It now expects adjusted earnings per share in the range of $1.35 to $1.45 per share on revenue of $345 million to $360 million. Previously, the company expected to report adjusted earnings per share in the range of $1.12 to $1.20 per share and revenue in the range of $315 million to $340 million.

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

 

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