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DAILY EARNINGS

Finisar, Kroger Net Plunge; VeriFone Net Loss Widens


Author: Mukesh Buch
ticker.com
Last Update: 1:10 PM EDT September 08 2017

11:45 PM New York Argan second-quarter net soared 38% to $27 million. Finisar first-quarter net plunged 17% to $20 million. Kroger second-quarter net plummeted 8% to $353 million. Tailored Brands first-quarter net more than doubled to $59 million. VeriFone third-quarter net loss widened to $71 million.

Tollbooth Index fell 18.10 or 0.2% to 12,415.58.

Earnings Review

Argan, Inc (AGX), the engineering construction services provider said revenues in the second-quarter ending in July surged 60% from a year ago to $259.8 million.

Net income in the quarter soared 38% to $27.1 million or $1.72 per diluted share from $19.7 million or $1.29 in the same quarter last year.

Finisar Corporation (FNSR), the optical cables network provider reported revenues in the first-quarter ending in July declined 4.4% from a year ago to $341.8 million.

Net income in the quarter plunged 16.7% to $19.9 million or 17 cents per diluted share from $23.9 million or 22 cents in the same quarter last year.

Finisar forecasted fiscal 2018 second-quarter revenues in the range of $322 million to $342 million and non-GAAP gross margin between 33% and 34% and non-GAAP diluted earnings per share in the range of 27 cents to 33 cents.

Hurco Companies, Inc (HURC), the industrial technology provider stated revenues in the third-quarter ending in July soared 16% from a year ago to $60.8 million.

Net income in the quarter jumped 44.4% to $3.9 million or 58 cents per diluted share from $2.7 million or 40 cents in the same quarter last year.

Kroger Co (KR), the supermarkets and convenience stores operator reported total sales in the second-quarter ending on August 12 jumped 3.9% from a year ago to $27.6 billion.

Net income in the quarter plummeted 7.8% to $353 million or 39 cents per diluted share from $383 million or 40 cents in the same quarter last year.

The food stores operator aggressively discounted prices to meet the growing competition from Wal-Mart, wholesale clubs and other retailers.

Kroger reaffirmed fiscal 2017 diluted earnings per share in the range of $1.74 to $1.79 share.

Rev Group Inc (REVG), the specialty vehicles maker said revenues in the third-quarter ending in July surged 12.8% from a year ago to $595.6 million.

Net income in the quarter jumped 16% to $15.2 million or 23 cents per diluted share from $13.1 million or 25 cents in the same quarter last year.

The specialty vehicles maker reaffirmed fiscal 2017 revenues in the range of $2.3 billion to $2.4 billion and operating profit between $157 million and $162 million and net income in the range of $36 million to $39 million.

Tailored Brands Inc (TLRD), the specialty apparel retailer said total sales in the first-quarter ending on July 29 rose 6.5% from a year ago to $850.8 million.

Comparable store sales in the quarter increased 0.1%.

Net income in the quarter more than doubled to $58.5 million or $1.19 per diluted share from $25 million or 51 cents in the same quarter last year.

VeriFone Systems Inc (PAY), the payments solutions provider reported revenues in the third-quarter ending in July slumped 4.3% from a year ago to $466.9 million.

Net loss in the quarter widened to $71 million or 63 cents per diluted share from $31.1 million or 28 cents in the same quarter last year.

Zumiez Inc (ZUMZ), the apparel, footwear and accessories retailer said total sales in the first-quarter ending on July 29 jumped 7.8% from a year ago to $192.2 million.

Comparable store sales in the quarter advanced 4.7%.

Net loss in the quarter narrowed to $0.6 million or 2 cents per diluted share from $0.8 million or 3 cents in the same quarter last year.

The retailer forecasted fiscal third-quarter net sales in the range of $236 to $241 million and diluted earnings per share between 43 cents and 48 cents and comparable sales growth in the range of 4% to 6%.
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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