BroadSoft, Federal-Mogul, Icahn Entp, Tribune Advance

Mukesh Buch
29 Feb, 2016
New York City

Aegion net loss widened on 6% decline in revenues. BroadSoft surged after profit and revenues soared. Enstar net jumped. Federal-Mogul net loss narrowed on flat revenues. Icahn Entp net loss widened. Tribune Media net swung to a loss. Workday net loss widened and subscription revenue surged 44%.

[R]12:00 PM New York – Aegion net loss widened on 6% decline in revenues. BroadSoft surged after profit and revenues soared. Enstar net jumped. Federal-Mogul net loss narrowed on flat revenues. Icahn Entp net loss widened. Tribune Media net swung to a loss. Workday net loss widened and subscription revenue surged 44%.[/R]

Tollbooth Index fell 65.44 or 0.6% to 10,193.19.

Earnings Review

Aegion Corp ((AEGN)) slipped 1.2% or 22 cents to $18.11 after the infrastructure protection and maintenance provider said revenue in the fourth-quarter ending in December declined 6.1% from a year ago to $330.7 million.

Net loss in the quarter narrowed to $32.9 million or 91 cents per diluted share compared to $36.9 million or 99 cents per share from the same quarter last year.

BroadSoft Inc ((BSFT)) surged 17.2% or $5.42 to $36.89 after the cloud-based software services provider reported total revenue in the fourth-quarter ending in December advanced 36% from a year ago to $89.6 million.

Net income in the quarter soared 50.6% to $11.6 million or 39 cents per diluted share compared to $7.7 million or 26 cents per share from the same quarter last year.

Enstar Group Ltd ((ESGR)) gained 56 cents to $158.05 after the Bermuda-based insurer stated total revenues in the fourth-quarter ending in December decreased 2.4% from a year ago to $217.6 million.

Net income in the quarter jumped 5.7% to $111.9 million or $5.75 per diluted share compared to $105.9 million or $5.62 per share from the same quarter last year.

Federal-Mogul Holdings Corp ((FDML)) soared 45.8% or $2.28 to $7.26 after the industrial products supplier said net sales in the fourth-quarter ending in December was flat from a year ago to $1.80 billion.

Net loss in the quarter narrowed to $58 million or 36 cents per diluted share compared to $185 million or $1.24 per share from the same quarter last year.

Icahn Enterprises LP ((IEP)) jumped 3.7% or $2.11 to $59.50 after the diversified investment company reported total revenue in the fourth-quarter ending in December plunged 23.7% from a year ago to $2.57 billion.

Net loss in the quarter widened to $1.1 billion or $8.56 per diluted share compared to $478 million or $3.84 per share from the same quarter last year.

Tribune Media Company ((TRCO)) surged 8.9% or $2.95 to $35.90 after the diversified media and entertainment company said revenue in the fourth-quarter ending in December fell 1% from a year ago to $547.6 million.

Net in the quarter swung to a loss of $380.9 million or $4.07 per diluted share compared to profit of $314.7 million or $3.14 per share from the same quarter last year.

During the quarter, Tribune Media recorded non-cash impairment charges in the television and entertainment business of about $385 million.

The media company forecasted revenues in the fiscal 2016 between $2.25 billion and $2.28 billion.

The company estimated revenues in television and entertainment segment in the range of $1.97 billion to $2 billion while operating profit between $640 million and $665 million.

Digital and Data business revenues in the range of $225 million to $235 million and operating profit between $47 million and $50 million.

On February 24, the board of directors authorized a new share repurchase program for up to $400 million.

Workday Inc ((WDAY)) increased 1.6% or 94 cents to $60.46 after the cloud-based applications provider said total revenue in the fourth-quarter ending in January soared 43% from a year ago to $323.4 million.

Net loss in the quarter widened to $81.1 million or 42 cents per diluted share compared to $59.5 million or 32 cents per share from the same quarter last year.

The company said subscription revenue in the quarter surged 44% to $261.8 million from the same period last year.