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DAILY EARNINGS

Air Lease Net Jumps, Meredith Net Tumbles; News Corp Net Loss Narrows


Author: Mukesh Buch
ticker.com
Last Update: 12:47 PM EDT August 10 2018

11:45 PM New York Air Lease Corp second-quarter net soared 14% to $115 million. Applied Industrial Technologies fourth-quarter net plunged 24% to $40 million. j2 Global second-quarter net slumped 9% to $29 million. Meredith Corp fourth-quarter net tumbled 61% to $17 million. News Corp fourth-quarter net loss narrowed to $355 million.

Tollbooth Index slipped 78.16 or 0.5% to 15,944.94 but for the year-to-date soared 15.9%.

Earnings Review

Air Lease Corp (AL), the aircraft leasing services provider said revenues in the second-quarter ending in June jumped 4.4% from a year ago to $398 million.

Net income in the quarter soared 14.2% to $115.2 million or $1.04 per diluted share from $100.9 million or 92 cents in the same quarter last year.

Applied Industrial Technologies Inc (AIT), the industrial products distributor reported net sales in the fourth-quarter ending in June surged 31.7% from a year ago to $897.7 million.

Net income in the quarter plunged 23.6% to $40.4 million or $1.03 per diluted share from $52.9 million or $1.34 in the same quarter last year.

The industrial products distributor forecasted fiscal 2018 sales growth in the range of 16% to 18% and diluted earnings per share in the range of $4.48 to $4.68.

j2 Global, Inc (JCOM), the Internet and cloud services provider reported revenues in the second-quarter ending in June jumped 5.4% from a year ago to $287.9 million.

Net income in the quarter slumped 9.2% to $28.5 million or 57 cents per diluted share from $31.4 million or 63 cents in the same quarter last year.

The cloud services provider reaffirmed fiscal 2018 revenues between $1.20 billion and $1.25 billion and operating profit between $480 million and $505 million.

J2 Global lifted fiscal 2018 diluted earnings per share forecast in the range of $6.16 and $6.46 from the earlier estimate of $5.95 and $6.25.

Meredith Corporation (MDP), the publications and marketing services provider said total revenues in the fourth-quarter ending in June soared 77% from a year ago to $788.1 million.

Net income in the quarter tumbled 61.2% to $16.8 million from $43.3 million and diluted loss per share swung to 6 cents from diluted earnings per share of 95 cents in the same quarter last year.

Meredith forecasted fiscal 2019 revenues in the range of $3 billion to $3.2 billion and net income of about $250 million and diluted earnings per share between $3.25 and $3.55.

News Corporation (NWSA), the media publishing services provider reported total revenues in the fourth-quarter ending in June jumped 29% from a year ago to $2.7 billion.

Net loss in the quarter narrowed to $355 million or 64 cents per diluted share from $424 million or 74 cents in the same quarter last year.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc