U.S. Movers: Actuant, Cintas, FRED

Mukesh Buch
21 Mar, 2012
New York City

Actuant second quarter net soared $32.2 million on sales growth. General Mills third quarter international sale soared 51%. Jabil Circuit second quarter net surged 76% to $97.7 million. Krispy Kreme lifted third quarter outlook. Oracle reported record operating margin and third quarter net rose 18%.

[R]10:40 AM New York – Actuant second quarter net soared $32.2 million on sales growth. General Mills third quarter international sale soared 51%. Jabil Circuit second quarter net surged 76% to $97.7 million. Krispy Kreme lifted third quarter outlook. Oracle reported record operating margins and third quarter net increased 18% to $2.5 billion.[/R]

Actuant Corporation ((ATU)) increased 1.4% or 41 cents to $29.06 after the industrial products maker reported second quarter net sales increased to $378.0 million from $330.7 million in the same quarter last year. Net income in the quarter soared to $32.2 million or 43 cents per diluted share compared to $7.9 million or 11 cents per share in the year ago earlier.

Actuant now expect third quarter sales to be in the range of $420 to 430 million and EPS to be in the range of 55 cents to 60 cents.

AAR Croporation ((AIR)) dropped 9.5% or $2.11 to $20.07 after the aviation products provider reported third quarter total revenues increased 17% to $534.2 million from $458.0 million in the same quarter last year. Net income in the quarter increased 18% to $20.7 million or 50 cents per diluted share compared to $17.9 million or 44 cents per share in the year ago quarter.

Cintas Corporation ((CTAS)) decreased 2.8% or $1.15 to $39.31 after the specialized products provider reported third quarter revenue increased 7.9% to $1.01 billion from $937.8 million in the same quarter last year. Net income in the quarter surged 28.7% to $76.0 million or 58 cents per diluted share compared to $59.1 million or 41 cents per share in the year ago quarter.

FRED’S Inc. ((FRED)) increased 3.2% or 45 cents to $14.49 after the discount store operator said fourth quarter net sales rose 2.5% to $497.6 million from $485.6 million in the same quarter last year. Comparable store sales increased 0.1%. Net income in the quarter increased 13% to $9.8 million or 27 cents per diluted share compared to $8.6 million or 22 cents per share in the year ago period.

For the year 2011 net sales rose 2% to $1.88 billion from $1.84 billion in last year. Comparable store sales increased 0.5%. Net income for the year increased 13% to $33.4 million or 87 cents per diluted share compared to $29.6 million or 75 cents per share in the prior year.

General Mills, Inc. ((GIS)) fell 33 cents to $38.43 after the food processing reported third quarter net sales increased 13% to $4.12 billion from $3.65 billion in the same quarter last year. Net income in the quarter fell to $391.5 million or 58 cents per diluted share compared to $392.1 million or 59 cents per share in the year ago.

Jabil Circuit, Inc. ((JBL)) rose 5 cents to $26.54 after the electronic instruments maker reported second quarter net revenues grew to $4.2 billion from $3.9 billion in the same quarter last year. Net income in the quarter surged 76% to $97.7 million or 46 cents per diluted share compared to $55.4 million or 25 cents per share in the year ago.

Krispy Kreme Doughnuts, Inc. ((KKD)) slipped 4.3% or 37 cents to $8.12 after the packaged sweets retailer said fourth quarter revenues increased 11.2% to $102.0 million from $91.7 million in the same quarter last year. Same store sales increased 8.3%. Net income in the quarter swung to $143.5 million or $2.01 per diluted share compared to net loss of $1.5 million or 2 cents per share in the year ago period.

For the year 2011 revenues increased 11.4% to $403.2 million from $362.0 million in last year. Same store sales increased 5.2%. Net income for the year surged to $166.3 million or $2.33 per diluted share compared to $7.6 million or 11 cents per share in the prior year.

Oracle Corporation ((ORCL)) rose 25 cents to $30.35 after the software company reported third quarter total revenues rose 3% to $9.0 billion from $8.8 billion in the same quarter last year. Net income in the quarter increased 18% to $2.5 billion or 49 cents per diluted share compared to $2.1 billion or 41 cents per share in the year ago.