Markets & Finance

Dillard's Reports Higher Profits


Dillard's (DDS) posted first quarter EPS from operations of $0.68, vs. $0.30, as higher gross margin and lower SG&A costs offset slightly lower same-store sales and flat total sales.

AnnTaylor Stores (ANN) reported $0.67 versus $0.37 first quarter earnings per share as stronger than expected gross margins offset flat same store sales. The retailer raised second quarter earnings per share guidance to $0.38-$0.40, third quarter to $0.67-$0.69, fourth quarter to $0.48-$0.50. S&P raises estimates.

Intuit (INTU) reported third quarter EPS of $0.75 a share, three cents above the consensus forecast. Revenues rose 28% to $545.2 million. Based on strong third quarter performance, the software maker raised the low end of its 2002 guidance ranges for EPS and revenues.

ImClone Systems (IMCL) shares may be under pressure after Merck KGaA reportedly says it supply clinical data to support IMCL/BMY's application for approval of its anti-cancer antibody Erbitux in the U.S.

Adelphia Communications (ADLAE) did not trade yesterday. Announced Timothy Rigas' resignation is effective immediately, but he will retain a seat on the board. The Special Committee will conduct full investigation into company's issues.

Lands' End (LE) posts $0.54, vs. $0.20 first quarter EPS on 10% higher total revenue.

Navistar (NAV) posts $0.07 second quarter loss per share, vs. $0.05 EPS, on 6.9% lower revenue. Lowers medium truck fiscal year 2002 forecast to 101,500, school bus forecast to 26,000 units.

Brocade Communications (BRCD) reported second quarter earnings per share of $0.06, vs $0.05 a year ago, on 17% revenue rise. Bear Stearns has some concerns, but maintained an attractive rating. S&P keeps avoid.

At yesterday's analyst meeting, IBM (IBM) CEO says the company is comfortable with $4.16 earnings per share on revenue of $83 billion for 2002. The company would not comment on previously rumored headcount reductions. S&P keeps accumulate.


Tim Cook's Reboot
LIMITED-TIME OFFER SUBSCRIBE NOW

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

 
blog comments powered by Disqus