U.S. Movers: Family Dollar, Lindsay, PVH, Synnex, Teavana, Tyco

Mukesh Buch
28 Mar, 2012
New York City

Family Dollar lifts full year earnings forecast on second quarter net rose 11% to $136.4 million. PVH 2012 projected revenue to be flat or up to 2%. Progress Software first quarter net declined 64% and Synnex Corp. first quarter net soared 28.6% to $38.2 mn. Teavana fourth quarter net surged 36%.

[R]11:35 AM New York – Family Dollar lifts full year earnings forecast on second quarter net increased 11% to $136.4 million. PVH 2012 projected revenue to be flat or up to 2% from 2011. Progress Software first quarter net declined 64% to $7.5 million and Synnex Corp. first quarter net soared 28.6% to $38.2 million. Teavana fourth quarter net surged 36% to $12.5 million.[/R]

Family Dollar Stores, Inc. ((FDO)) rose 46 cents to $58.70 after the general merchandise reported second quarter net sales increased 8.6% to $2.46 billion from $2.26 billion in the same quarter last year. Comparable store sales increased 4.5%. Net income in the quarter increased 10.7% to $136.4 million or $1.15 per diluted share compared to $123.2 million or 98 cents per share in the year ago earlier.

Jos. A. Bank Clothiers, Inc. ((JOSB)) slipped 8.3% or $4.53 to $49.95 after the men’s apparel retailer reported fourth quarter net sales grew 8.8% to $346.3 million from $318.3 million in the same quarter last year. Net income in the quarter fell 7.8% to $44.1 million or $1.58 per diluted share compared to $40.9 million or $1.47 per share in the year ago period.

For the year 2011 net sales grew 14.2% to $979.9 million from $858.1 million in last year. Comparable store sales increased 7.6%. Net income for the year increased 13.6% to $97.5 million or $3.49 per diluted share compared to $85.8 million or $3.08 per share in the prior year.

Lindsay Corporation ((LNN)) rose 54 cents to $67.28 after the infrastructure service provider reported second quarter total revenues grew 10% to $132.1 million from $120.2 million in the same quarter last year. Net earnings in the quarter increased 13.3% to $12.8 million or $1.00 per diluted share compared to $11.3 million or 89 cents per share in the year ago period.

Progress Software Corporation ((PRGS)) decreased 2.4% or 60 cents to $23.82 after the enterprise reported first quarter revenue fell 7% to $124.4 million from $134.2 million in the same quarter last year. Net income in the quarter declined 64% to $7.5 million or 12 cents per diluted share compared to $20.5 million or 29 cents per share in the year ago earlier.

PVH Corp. ((PVH)) fell 67 cents to $89.14 after the apparel company reported fourth quarter revenue increased 10% to $1.5 billion from $1.4 billion in the same quarter last year. Net income in the quarter surged 56% to $81.2 million or $1.11 per diluted share compared to $52.2 million or 72 cents per share in the year ago earlier.

For the year 2011 revenue soared 27% to $5.89 billion from $4.36 billion in last year. Net income for the year surged to $317.9 million or $4.36 per diluted share compared to $53.8 million or 80 cents per share in the prior year.

Synnex Corporation ((SNX)) dropped 12.4% or $5.44 to $38.20 after the business process service provider reported first quarter revenue edged down 1.6% to $2.46 billion from $2.50 billion in the same quarter last year. Net income in the quarter soared 28.6% to $38.2 million or $1.02 per diluted share compared to $29.7 million or 80 cents per share in the year ago quarter.

Teavana Holdings, Inc. ((TEA)) decreased 1.4% or 30 cents to $20.28 after the tea related specialty retailer reported fourth quarter net sales soared 34% to $68.4 million from $51.2 million in the same quarter last year. Comparable store sales increased 8.6%. Net income in the quarter surged 36% to $12.5 million or 32 cents per diluted share compared to $9.2 million or 24 cents per share in the year ago period.

For the year 2011 net sales surged 35% to $168.1 million from $124.7 million in last year. Comparable store sales increased 8.6%. Net income for the year soared 48% to $17.8 million or 46 cents per diluted share compared to $12.0 million or 32 cents per share in the prior year.

Tyco International Ltd ((TYC)) increased 4.2% or $2.28 to $55.81 after the Switzerland based holding company said it plans to merge its flow and control business with Pentair, Inc. ((PNR)). Shareholders of Tyco will get approximately 52.5% of the combined company and Pentair shareholders will hold the rest 47.5% and the merged company is estimated to have revenues of $7.7 billion with 30,000 employees.

Pentair, Inc. soared 17.7% to $47.74.