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Earnings Roundup

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Wal-Mart Stores Inc (NYSE: WMT) reported a 2.9% drop in its fiscal third-quarter net income. Wal-Mart's quarterly earnings dropped to $3.34 billion, or $0.96 per share, from $3.44 billion, or $0.95 per share, in the year-ago quarter. Its earnings from continuing operations came in at $0.97 per share. Wal-Mart's shares outstanding declined 4.8% to 3.46 billion. Wal-Mart's sales climbed to $109.52 billion from $101.24 billion. Its revenue, reflecting membership fees, surged to $110.23 billion from $101.95 billion. However, analysts were expecting earnings of $0.98 per share on sales of $107.86 billion. For the fiscal year, Wal-Mart projects earnings of $4.45 to $4.51 per share from continuing operations; versus analysts' estimates of $4.50 per share.

Home Depot Inc (NYSE: HD) reported a 12% rise in its FQ3 net income and raised its FY12 its earnings forecast. Home Depot's quarterly earnings climbed to $934 million, or $0.60 per share, from $834 million, or $0.51 per share, in the year-ago period. Its shares outstanding dropped 6% to 1.55 billion. Home Depot's sales surged to $17.33 billion from $16.6 billion. However, analysts were expecting earnings of $0.59 per share on revenue of $17.11 billion. Home Depot declared a dividend of $0.29 per share, up from its $0.25 per share. Home Depot lifted its FY12 earnings forecast to $2.38 per share, versus analysts' estimates of $2.36 per share.

Staples Inc (NASDAQ: SPLS) reported a 13% rise in its fiscal third-quarter net income. Staples' quarterly earnings climbed to $326.4 million, or $0.47 per share, from $288.7 million, or $0.40 per share, in the year-ago quarter. Its shares outstanding dropped 3.3% to 698 million. Staples' sales jumped to $6.57 billion from $6.54 billion. However, analysts were expecting earnings of $0.47 per share on sales of $6.71 billion. For the fiscal year, Staples projects earnings of $1.38 to $1.42 per share, or an adjusted $1.35 to $1.39 per share. Analysts were expcting earnings of $1.39 per share.

Covidien PLC (NYSE: COV) reported a 1.8% rise in its fiscal fourth-quarter earnings. Covidien's quarterly earnings surged to $451 million, or $0.92 per share, from $443 million, or $0.89 per share, in the year-ago period. Excluding certain items, Covidien's earnings from continuing operations came in at $1.08 per share. Its revenue surged 15% to $3.08 billion. However, analysts were expecting earnings of $1.05 per share on revenue of $3.03 billion.

VanceInfo Technologies Inc (NYSE: VIT) reported a 59% drop in its Q3 profit. VanceInfo Technologies expects Q4 earnings of $0.19 to $0.21 per share on revenue of at least $84 million. However, analysts expected income of $0.25 per share on revenue of $78 million. VanceInfo Technologies' quarterly profit declined to $3.2 million, or $0.07 per share, from $7.7 million, or $0.18 per share, in the year-ago period. Excluding certain items, VanceInfo Technologies earned $0.14 per share. VanceInfo Technologies' revenue climbed 26% to $70.3 million. VanceInfo Technologies in August projected earnings of $0.19 to $0.21 per share on revenue of $69 million to $72 million.

K12 Inc (NYSE: LRN) reported a rise in its first-quarter profit and projects strong FY12 revenue. K12 expects FY12 revenue of over $680 million, versus analysts' estimates of $671.3 million. K12's quarterly net income surged to $4.6 million, or $0.12 per share, from $2.2 million, or $0.07 per share, in the year-ago period. Its revenue jumped 43% to $193.3 million. K12's total average enrollment climbed 42% to 141,525 students.

Cellcom Israel Ltd (NYSE: CEL) reported a 40% decline in its Q3 net profit. Cellcom's quarterly net income dropped to 199 million shekels ($54 million), from 332 million, in the year-ago period. Cellcom's revenue dropped 3.7% to 1.67 billion shekels. Its service revenue fell 20.9%, while handset revenue surged 114.5%. Cellcom declared a quarterly dividend of 1.9 shekels per share.

Burberry PLC (OTC: BURBY) reported a 41% surge in its first-half net profit. Burberry's profit before tax and exceptional items rose 26% to GBP162 million, versus analysts' estimates of GBP160.3 million. Burberry's net profit climbed to GBP117.2 million from GBP83.1 million. Burberry also lifted its interim dividend 40% to 7 pence per share.

Cable & Wireless Worldwide PLC (OTC: CBWWF) swung to a first-half loss. C&W Worldwide posted a loss of 590 million pounds, versus a year-ago profit of £87 million. Excluding special items, C&W Worldwide's adjusted earnings came in at £34 million. Its revenue dropped 4.5% to £1.07 billion from £1.12 billion. C&W Worldwide's earnings before interest, taxes, depreciation and amortization declined 6.4% to £190 million from £203 million.

easyJet PLC (OTC: ESYJY) reported rise in its fiscal year profit. easyJet's pretax profit surged 61% to GBP248 million, from GBP154 million, in the year-ago period. Its revenue climbed 16.1% to GBP3.45 billion. easyJet announced its plans to pay a dividend of 10.5 pence per share and a special dividend of 34.9 pence per share.

Finmeccanica SpA (OTC: FINMY) reported a loss for the nine-month period. Finmeccanica posted a net loss of EUR324 million for the period.

UBI Banca (OTC: BPPUY) swung to a net loss in the third quarter. UBI Banca posted a quarterly net loss of EUR69.04 million, versus a year-ago net profit of EUR95.7 million. UBI Banca's quarterly net interest income dropped to EUR534.2 million from EUR543.2 million.

Sumitomo Mitsui Financial Group Inc (OTC: SMFNF) reported a 25% decline in its group net profit for the fiscal first half ended September. Sumitomo Mitsui's net profit for the period dropped to Y313.76 billion, from Y417.49 billion, in the year-ago period. Group operating revenue climbed 3.2% to Y2.045 trillion versus Y1.981 trillion.

TowerJazz reported upbeat third-quarter net profit. TowerJazz's quarterly net profit surged to $1.8 million, from $1.2 million, in the year-ago period. Excluding one-off items, TowerJazz's net profit came in at $46 million. Its revenue surged 31% to $176.1 million. Analysts were expecting net income of $41.2 million on revenue of $178.8 million.

Canacol Energy Ltd (OTC: CAAEF) swung to a first-quarter profit. Canacol Energy posted a quarterly profit at $13.4 million, or $0.03 per share, versus a year-ago loss of $30 million, or $0.07 per share. Its revenue jumped to $35.3 million. Canacol's funds from operations surged around 129% to $17.8 million, or $0.03 per share. Its average daily sales volumes jumped about 170% to 9,910 barrels of oil per day (boepd).

Sears Canada Inc (OTC: SEARF) swung a third-quarter loss. Sears Canada posted a quarterly net loss of C$46.6 million ($45.8 million), or 44 Canadian cents per share, versus a year-ago profit of C$20.8 million, or 19 Canadian cents per share. Its revenue fell 7% to C$1.11 billion.

Avion Gold Corp (OTC: AVGCF) reported a decline in its third-quarter profit. For 2011, Avion Gold now projects to produce 92,000 to 95,000 ounces of gold, versus its earlier forecast of 95,000 to 100,000 ounces. Avion Gold's quarterly net income dropped to $7.2 million, or $0.02 per share, from $14.4 million, or $0.04 per share, in the year-ago period. Its revenue climbed 16% to $36.9 million.

 

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