CSX, Intel, Domino's Fall on Earnings

123jump.com Staff
15 Oct, 2008
New York City

CSX Corp third quarter revenues rose 18% to $2.96 billion and net income fell 6% to $382 million or 94 cents a share. Dominos Pizza Inc third quarter revenue fell 4% to $323.6 million and net income dropped 8% to $10 million or 17 cents a share. Intel net income rose 11%.

[R]3:00PM New York - Chase Corporation revenues rose 4% and net income rose 12%. CSX Corporation revenues rose 18% and net income fell 6%. Domino’s Pizza, Inc revenues fell 4% and net income fell 8%.[/R]

Chase Corporation, a global manufacturer of specialty tapes, laminates, sealants, and coatings and provider of electronic manufacturing services said fourth quarter revenues rose 4% to $35.7 million from $34.2 million a year ago. Net income in the quarter rose 12% to $3.81 million or 44 cents per diluted share compared to net income of $3.41 million or 40 cents per share, a year ago.

Revenues for the fiscal year ended August 31, 2008 were $132.5 million and represented a 4% increase over $127.5 million in the prior year. Net income for the fiscal year increased 22% to $12.4 million or $1.43 per diluted share, compared to $10.2 million, or $1.22 per diluted share, in the prior year.

Chase Corporation ((CCF)) in the last one year traded as high as $29.04 in January 2008 and as low as $9.45 in October 2008. Based on the yesterday’s closing price the company has a market cap of $86.82 million.

CSX Corporation, a transportation company said third quarter revenues rose 18% to $2.96 billion. Net income in the quarter fell 6% to $382 million or 94 cents per diluted share compared to net income of $407 million or 91 cents per share, a year ago.

CSX Corporation ((CSX)) in the last one year traded as high as $70.70 in July 2008 and as low as $39.87 in January 2008. Based on the yesterday’s closing price the company has a market cap of $18.20 billion. CSX in today’s trading dropped 9.4% or $4.52 to $43.62.

Domino’s Pizza, Inc, a pizza delivery company said third quarter revenues fell 4% to $323.6 million from $337.3 million a year ago. Net income in the quarter fell 8% to $10.1 million or 17 cents per diluted share compared to net income of $11 million or 17 cents per share, a year ago. Excluding certain items company earned 13 cents and missed analysts estimate of 21 cents a share.

Comparable same- store sales fell 6.1% after more consumers stayed home and avoided ordering pizzas. Rising ingredient costs also affected the margins.

The company also said that its access to variable interest rate based loans have been curtailed after the demise of Lehman Brothers and has not drawn on its note with Lehman. The company estimates that its cash from operations and $21.7 million note with Lehman would have meet its capital requirements.

Domino’s Pizza, Inc ((DPZ)) in the last one year traded as high as $16.78 in October 2007 and as low as $6.75 in October 2008. Based on the yesterday’s closing price the company has a market cap of $410.11 million. The stock in trading today dropped 9% or 64 cents to $6.81.

Intel Corporation, the semiconductor chip maker said third quarter revenues rose 1% to $10.2 billion from $10.1 billion a year ago. Net income in the quarter rose 11% to $2 billion or 35 cents per diluted share compared to net income of $1.8 billion or 30 cents per share, a year ago.

Total microprocessor average selling price was lower sequentially and gross margin in the quarter was 58.9%, up from 55.4% in the second quarter.

Intel Corporation ((INTC)) in the last one year traded as high as $27.99 in December 2007 and as low as $14.26 in October 2008. Based on the yesterday’s closing price the company has a market cap of $90.91 billion.

J.B. Hunt Transport Services, Inc, the trucking and logistics company said third quarter revenues rose 12% to $996 million from $892 million a year ago. Net income in the quarter rose 19% to $60.3 million or 47 cents per diluted share compared to net income of $50.8 million or 38 cents per share, a year ago.

J.B. Hunt Transport Services, Inc ((JBHT)) in the last one year traded as high as $40.25 in August 2008 and as low as $23.28 in January 2008. Based on the yesterday’s closing price the company has a market cap of $3.77 billion.