H & R Block Surges, Mattress Firm Plunges and Agilysys Loss Narrows

Mukesh Buch
10 Jun, 2016
New York City

Agilysys net loss narrowed after revenues soared 11%. Cherokee net slumped 28%. H & R Block profit declined 5% on flat revenues. KMG Chemicals net surged more than three-fold. Mattress Firm Holding net swung to a loss despite revenues surged 49%.

[R]1:00 PM New York – Agilysys net loss narrowed after revenues soared 11%. Cherokee net slumped 28%. H & R Block profit declined 5% on flat revenues. KMG Chemicals net surged more than three-fold. Mattress Firm Holding net swung to a loss despite revenues surged 49%.[/R]

Tollbooth Index dropped 113.80 or 1.1% to 10,660.44.

Earnings Review

Agilysys, Inc ((AGYS)) slid 4 cents to $11.61 after the enterprise software developer said total net revenues in the fourth-quarter ending in March soared 11.1% from a year ago to $31.9 million.

Net loss in the quarter narrowed to $1.5 million or 7 cents per diluted share compared to $5.4 million or 24 cents per share from the same quarter last year.

Cherokee Inc ((CHKE)) plunged 7.9% or $1.14 to $13.26 after the fashion and lifestyle brands marketer stated net revenues in the first-quarter ending in April rose 4.4% from a year ago to $10.7 million.

Net income in the quarter slumped 27.8% to $2.6 million or 29 cents per diluted share compared to $3.6 million or 41 cents per share from the same quarter last year.

H & R Block Inc ((HRB)) surged 11.1% or $2.38 to $23.92 after the accounting services provider reported revenues in the fourth-quarter ending in April were flat from a year ago to $2.30 billion.

Net income in the quarter declined 5.1% to $700.7 million or $3.13 per diluted share compared to $738.8 million or $2.66 per share from the same quarter last year.

KMG Chemicals, Inc ((KMG)) gained 1.4% or 38 cents to $26.87 after the specialty chemicals maker stated net sales in the third-quarter ending in April rose 1.6% from a year ago to $75.2 million.

Net income in the quarter surged more than three-fold to $6.4 million or 53 cents per diluted share compared to $2.1 million or 18 cents per share from the same quarter last year.

Mattress Firm Holding Corp ((MFRM)) tumbled 13.2% or $4.42 to $29.16 after the specialty retailer reported net revenues in the first-quarter ending on May 3 surged 49.2% from a year ago to $839.4 million.

Comparable store revenues in the quarter increased 1.3%.

Net in the quarter swung to a loss of $119.2 million or $3.22 per diluted share compared to profit of $5.5 million or 15 cents per share from the same quarter last year.

Mattress Firm forecasted net revenues in the year to soar 51% or in the range of $3.83 billion to $3.88 billion and diluted loss per share between $1.62 and $1.57 while comparable sales to increase in the range of 1% to 2%.