U.S. Movers: Agilent, Campbell Soup, Chico

Mukesh Buch
20 Nov, 2012
New York City

Agilent Technologies fourth quarter net climbed 47% and Campbell Soup first quarter net slumped 8%. Chico

[R]9:55 AM New York – Agilent Technologies fourth quarter net climbed 47% and Campbell Soup first quarter net slumped 8%. Chico’s third quarter net soared 57%. HP fourth quarter net swung to $6.85 billion loss on impairment charges and Valspar net swung to $73.8 million profit.[/R]

Agilent Technologies, Inc. ((A)) slipped 4% or $1.51 to $36.01 after the measurement company said revenue in the fourth quarter ending in October grew 2% to $1.77 billion from $1.73 billion in the same period of last year. Net income in the quarter climbed 47% to $425 million or $1.20 a diluted share compared to $289 million or 82 cents a share a year ago.

For the fiscal first quarter, Agilent expects revenues in the range of $1.68 billion to $1.70 billion and for the full year revenue of $7 billion to $7.20 billion and non GAAP earnings of $2.80 to $3.10 per share.

Brown Shoe Company, Inc ((BWS)) gained 3.6% or 58 cents to $16.32 after the footwear retailer stated sales in the third quarter ending on October 27 grew 3% to $732.2 million from $713.8 million in the same period of last year. Same store sales for the quarter jumped 6.8%.

Net earnings in the quarter plunged 28% to $24.3 million or 56 cents a diluted share compared to $33.7 million or 79 cents a share a year ago earlier.

The company said segment sales for the quarter for Famous footware climbed 4.9% to $436.8 million and sales in the contemporary fashion platform were jumped to 5.2%.

The retailer lifted fiscal 2012 outlook and expects net sales in the range of $2.57 billion to $2.59 billion and diluted earnings per share between 55 cents and 59 cents.

Campbell Soup Company ((CPB)) slid 33 cents to $36.62 after the food products maker reported sales in the first quarter ending on October 28 climbed 8% to $2.34 billion from $2.16 billion in the same period of last year. Net earnings in the quarter slumped 8% to $245 million or 78 cents a diluted share compared to $265 million or 82 cents a share a year ago quarter.

The company said U.S. simple meals sales rose 3% and soup sales added 2% and beverages sales dropped 5%.

The company added net debt grew $4.09 billion due to funding of $1.57 billion for acquisition of Bolthouse Farms on August 6.

Campbell confirmed its previous fiscal 2013 guidance and expects sales to grow between 10% and 12% and adjusted earnings per share in the range of $2.51 and $2.57.

Chico’s FAS, Inc. ((CHS)) gained 12 cents to $18.28 after the specialty retailer said net sales in the third quarter ending on October 27 advanced 18% to $636.7 million from $538.5 million in the same period of last year. Comparable store sales for the quarter climbed 9.9%.

Net income in the quarter soared 57% to $41.7 million or 25 cents a diluted share compared to $26.5 million or 16 cents a share a year ago earlier.

The Chico''s/Soma intimate brand comparable sales increased 11.6% and comparable sales at white house | black market brand increased 6.4%. For the third quarter, gross margin increase of 20.8% to $364.3 million.

The retailer expects net sales for fiscal 2012 between $2.55 and $2.6 billion and comparable sales growth at a mid-single digit percent.

Hewlett-Packard Company ((HPQ)) declined 12.6% or $1.68 to $11.62 after the software company reported revenue in the fourth quarter ending in October declined 7% to $30 billion from $32.1 billion in the same period of last year. Net loss in the quarter swung to $6.85 billion or $3.49 a diluted share compared to net income of $239 million or 12 cents a share a year ago.

HP said revenue from personal systems declined 14% and commercial revenue dropped 13% and consumer revenue plummeted 16%. Total units were slumped 12% with both desktops and notebooks units slipped 12%.

HP added results include impairment charges of goodwill and intangible assets of $8.8 billion related to acquisition of software firm Autonomy.

For the fiscal first quarter, GAAP diluted earnings per share to be in the range of 34 cents to 37 cents and for the full year GAAP diluted earnings per share between $2.10 and $2.30.

Hormel Foods Corporation ((HRL)) dropped 3.3% or $1.06 to $30.24 after the food products maker said sales in the fourth quarter ending on October 28 increased 3% to $2.17 billion from $2.10 billion in the same period of last year. Net earnings in the quarter climbed 13% to $132.6 million or 49 cents a diluted share compared to $117.3 million or 43 cents a share a year ago quarter.

The Hormel Foods added gross profit jumped 5% $351.8 million from a year ago period and expects earnings for fiscal 2013 in the range of $1.90 to $2 per share.

Kirkland’s, Inc. ((KIRK)) gained 7 cents to $9.05 after the decor and gifts retailer stated net sales in the third quarter ending on October 27 edged down 2% to $96.7 million from $97.1 million in the same period of last year. Comparable store sales for the quarter slumped 4.7%.

Net loss in the quarter swung to $0.4 million or 2 cents a diluted share compared to net income of $1.2 million or 6 cents a share a year ago period.

The company expects total sales for the fourth quarter between $160 million and $163 million and earnings per share in the range of 71 cents to 76 cents.

The Valspar Corporation ((VAL)) added 7 cents to $57.91 after the coating and paint maker reported sales in the fourth quarter ending on October 26 were nearly flat to $1.02 billion from $1.05 billion in the same period of last year. Net income in the quarter swung to $73.8 million or 79 cents a diluted share compared to net loss of $295.7 million or $3.18 a share a year ago.

The paint company expects fiscal 2013 net income per share to be in the range of $3.65 to $3.85.

Tech Data Corporation ((TECD)) slumped 4.4% or $2 to $43.46 after the computer hardware distributor reported net sales in the third quarter ending in October dropped 8% to $6.04 billion from $6.59 billion in the same period of last year. Net income in the quarter declined 14% to $45.9 million or $1.21 a diluted share compared to $53.5 million or $1.26 a share a year ago earlier.

For the fiscal fourth quarter of 2013, the company expects sales growth in low single-digit and in Europe expects sales growth in low single-digit and in U.S. decline in low double-digits sales compared to year ago period.