Earnings Roundup For May 24

Medtronic Inc MDT reported a 19% drop in its fourth quarter net income on Tuesday. Medtronic reported its Q4 profit at $776 million, or $0.72 per share, down from $954 million, or $0.86 per share, in the year-ago period. Excluding restructuring and other costs of $198 million, Medtronic's earnings came in at $0.90 per share. The company's net sales surged to $4.30 billion from $4.20 billion. However, analysts were expecting earnings of earnings at $0.93 per share on revenue of $4.29 billion. Cracker Barrel Old Country Store Inc CBRL reported its fiscal third-quarter net income at $15.2 million, or $0.64 per share, versus $14.4 million, or $0.61 per share, in the year-ago quarter. The latest quarter earnings included a benefit of $0.06 per diluted share, for gains on the sale of property, net of an impairment charge. The company's total revenue rose 0.7% y/y to $582.5 million. Its comparable store restaurant sales declined 0.3%. Cracker Barrel reported its operating income at $31.2 million, versus $31.8 million, in the year-ago quarter. However, analysts were expecting earnings of $0.66 per share on revenue of $594.45 million. Cracker Barrel projects FY11 earnings of $3.80 to $3.90 per share, versus analysts' estimates of $4.09 per share. Hanwha SolarOne Co Ltd HSOL reported its Q1 EPS at $0.28, versus the estimates of $0.29. HSOL reported its revenue at $335.2 million, versus the estimates of $317.58 million. AutoZone Inc AZO reported upbeat earnings for the fiscal third quarter on Tuesday. AutoZone reported its quarterly earnings at $227.4 million, or $5.29 per share, up from $202.7 million, or $4.12 per share, in the year-earlier period. Its sales surged to $1.98 billion from $1.82 billion. However, analysts were expecting earnings of $4.97 per share on sales of $1.92 billion. The retailer's sales at stores open for more than a year increased 5.3%. Sanderson Farms Inc SAFM swung to a fiscal second-quarter net loss, from a profit in the year-ago period. Sanderson Farms reported a FQ2 loss at $16.3 million, or $0.74 per share, versus a profit of $35.1 million, or $1.62 per share, in the year-earlier period. The company's sales dropped 1.6% to $479.3 million. Excluding a $6 million charge to reduce the value of live inventory, the company's loss came in at $0.56 per share. However, analysts were expecting a loss of $0.84 per share on revenue of $469.02 million. Marks & Spencer Group PLC MAKSY reported a 14% rise in its fiscal 2011 net income on Tuesday. Marks & Spencer reported its earnings at 598.6 million pounds, or 38.4 pence a share, up from 523 million pounds, or 33.2 pence, in fiscal 2010. The company's pretax profit increased 11% to 780.6 million pounds from 702.7 million. Its adjusted net income rose to 34.4 pence a share from 32.7 pence. Marks & Spencer's revenue surged to 9.74 billion pounds from 9.54 billion. Marks & Spencer also announced its plans to pay a final dividend of 10.8 pence a share. DSW Inc DSW reported a 12% rise in its Q1 net sales on Tuesday. DSW reported its quarterly net income at $38.4 million, or $0.85 per share, versus $30.2 million, or $0.67 per share, in the year-ago period. The latest quarter earnings included charges of $0.02 related to the pending merger with RVI. Its comparable sales surged 10.8%. DSW's net sales surged 12.0% to $503.6 million from $449.5 million. However, analysts were expecting earnings of $0.75 per share on revenue of $486.54 million. DSW now expects fiscal 2011 earnings per share in the range of $2.65 to $2.80, excluding any impact from the pending merger with RVI. EDAP TMS SA EDAP reported its Q1 total revenue at EUR 4.9 million (USD 6.8 million), up from EUR 4.3 million (USD 5.9 million), in the year-ago quarter. EDAP reported its net income at EUR 213,000 (USD 295,000), or EUR 0.02 per share, versus a net loss of EUR 2.6 million (USD 3.5 million), or EUR 0.24 per share, in the year-ago quarter. The latest quarter net income included non-cash interest income of EUR 1.6 million (USD 2.2 million). Its gross profit surged 15.2% to EUR 2.0 million (USD 2.7 million), from EUR 1.7 million (USD 2.3 million). Read more from Benzinga's Markets.