Alcoa Miss Earnings Estimate, Perry Ellis Mises Earnings Expectations

Mukesh Buch
12 Apr, 2016
New York City

Alcoa net plunged 92% while revenues jumped 15%. Bank of The Ozarks net and revenues soared. Fastenal net fell but sales increased. Perry Ellis reiterated revenues forecast in the fiscal 2017 and missed the earnings expectations in the latest fiscal year ending in Janyary 2016.

[R]2:00 PM New York – Alcoa net plunged 92% while revenues jumped 15%. Bank of The Ozarks net and revenues soared. Fastenal net fell but sales increased. Perry Ellis reiterated revenues forecast in the fiscal 2017 and reported a loss in the latest fiscal year.[/R]

Tollbooth Index gained 23.58 or 0.2% to 10,632.33.

Earnings Review

Alcoa Inc ((AA)) declined 3.5% or 34 cents to $9.41 after the aluminium producer reported revenues in the first-quarter ending in March jumped 14.9% from a year ago to $4.95 billion.

Net income in the quarter plunged 91.8% to $16 million or break even per diluted share compared to $195 million or 14 cents per share from the same quarter last year.

Bank of The Ozarks Inc ((OZRK)) dropped 2.9% or $1.20 to $40.71 after the banking service provider said net interest income in the first-quarter ending in March surged 31.6% from a year ago to $112.5 million.

Net income in the quarter soared 29.6% to $51.7 million or 57 cents per diluted share compared to $39.9 million or 48 cents per share from the same quarter last year.

Fastenal Company ((FAST)) slumped 2.9% or $1.37 to $45.57 after the industrial products maker reported net sales in the first-quarter ending in March jumped 3.5% from a year ago to $986.7 million.

Net income in the quarter fell 1.1% to $126.2 million or 44 cents per diluted share compared to $127.6 million or 43 cents per share from the same quarter last year.

Perry Ellis International, Inc ((PERY)) soared 4.4% or 79 cents to $18.63 after the men’s apparel designer stated total revenues in the fourth-quarter ending in January rose 1.5% from a year ago to $214.4 million.

Net loss in the quarter narrowed to $17.7 million or $1.18 per diluted share compared to $42.9 million or $2.90 per share from the same quarter last year.

The company reiterated its total revenues forecast in the fiscal 2017 in the range of $910 million to $915 million and earnings per share between $1.90 and $1.95.

For the full-year ended in January 2016, the company reported net loss declined to $7.3 million from the loss of $37.2 million in the year ago.