U.S. Movers: Actuant, Accenture, Darden, Family Dollar, Paychex

Mukesh Buch
28 Sep, 2011
New York City

Actuant fourth quarter net earnings swung to $41.4 million. Accenture fourth quarter net income rose 9% to $611.9 million. Darden first quarter net earnings fell to $106.6 million. Family Dollar fourth quarter net income rose 8% to $79.8 mn. Paychex first quarter net income rose 13% to $148.9 mn.

[R]10:55 AM New York – Actuant fourth quarter net earnings swung to $41.4 million. Accenture fourth quarter net income increased 9% to $611.9 million. Darden first quarter net earnings fell to $106.6 million. Family Dollar fourth quarter net income rose 8% to $79.8 million. Paychex first quarter net income rose 13% to $148.9 million.[/R]

Actuant Corporation ((ATU)) increased 5.1% or $1 to $20.38 after the industrial products and systems maker reported fourth quarter net sales soared 30% to $403.4 million from $310.4 million in the same quarter last year. Net earnings in the quarter swung to $41.4 million or 55 cents per diluted share compared to net loss of $16.8 million or 29 cents per share a year ago.

Accenture plc ((ACN)) increased 3.2% or $1.74 to $55.39 after the Ireland based management consultant and outsourcing company reported fourth quarter revenue increased 23% to $6.7 billion from $5.4 billion in the same quarter last year. Net income in the quarter increased 9.1% to $611.9 million or 91 cents per diluted share compared to $445.5 million or 66 cents per share a year ago period.

The company expects net revenue growth for fiscal year 2012 of 7% to 10% and earnings per share between $3.80 and $3.88, or increase of 12% to 14%.

Comtech Telecommunications Corp. ((CMTL)) increased 1.5% or 43 cents to $28.30 after the communication equipments maker said fourth quarter net sales decreased to $140.3 million from $257 million in the same quarter last year. Net income in the quarter fell to $11.9 million or 42 cents a diluted share compared to $13.5 million or 43 cents a share a year ago quarter.

Darden Restaurants, Inc. ((DRI)) slipped 4.5% or $2.12 to $44.86 after the restaurant operator reported first quarter revenue increased 7.5% to $1.94 billion from $1.81 million in the same quarter last year. Same store sales were up 2.8%.

Net earnings in the quarter fell to $106.6 million or 78 cents per diluted share compared to $113.1 million or 80 cents per share a year ago.

Family Dollar Stores, Inc. ((FDO)) increased 1.3% or 71 cents to $54.89 after the general merchandise retailer reported fourth quarter net sales increased 9.1% to $2.13 billion from $1.96 billion in the same quarter last year. Comparable stores sales increased 5.6%.

Net income in the quarter increased 8% to $79.8 million or 66 cents per diluted share compared to $74.0 million or 56 cents per share a year ago period.

Jabil Circuit, Inc. ((JBL)) advanced 7.1% or $1.24 to $18.61 after the electronic instruments and controls maker reported fourth quarter net revenue increased to $4.3 billion from $3.9 billion in the same quarter last year. Net income in the quarter soared to $114.3 million or 52 cents a diluted share compared to $58.7 million or 27 cents a share a year ago.

McCormick & Company Inc. ((MKC)) decreased 3% or $1.46 to $46.23 after the food processing company reported third quarter sales increased 16% to $920.4 million from $794.6 million in the same quarter last year. Net income in the quarter decreased to $92 million or 69 cents per diluted share compared to $102.4 million or 76 cents per share a year ago quarter.

The company reaffirmed expectation of sales rose to 6% to 8% for the fiscal year and earnings per share of $2.74 to $2.79.

Paychex, Inc. ((PAYX)) gained 1.8% or 50 cents to $27.19 after the payroll services provider reported first quarter revenue grew 9% to $563.1 million from $518.3 million in the same quarter last year. Net income in the quarter rose 13% to $148.9 million or 41 cents per diluted share compared to $131.9 million or 36 cents per share a year ago.

Progress Software Corporation ((PRGS)) slumped 7% or $1.36 to $18.03 after the software company reported third quarter revenue flat to $128.3 million from $128.7 million in the same quarter last year. Net income in the quarter fell 7% to $8.6 million or 13 cents per diluted share compared to $9.2 million or 14 cents per share a year ago earlier.

Synnex Corporation ((SNX)) soared 10% or $2.50 to $27.41 after the business process services provider said third quarter revenue increased 18.1% to $2.57 billion from $2.18 billion in the same quarter last year. Net income in the quarter surged 26.3% to $39.0 million or $1.09 per diluted share compared to $30.9 million or $0.88 per share a year ago period.

Standard Microsystems Corporation ((SMSC)) slipped 5.3% or $1.10 to $19.42 after the integrated circuits and systems maker said second quarter total revenue increased 8% to $112.6 million from $104.1 million in the same quarter last year. Net income in the quarter fell to $11.9 million or 51 cents per diluted share compared to $12.9 million or 57 cents per share a year ago earlier.