Earnings Roundup

Lowe's Companies Inc LOW reported downbeat quarterly sales and lowered its fiscal-year forecast. Lowe's sales increased 1.3% to $14.54 billion in the second quarter, versus analysts' estimates of $14.75 billion. Its net income came in at $830 million, or $0.64 per share, versus $832 million, or $0.58 per share, in the year-ago period. Excluding special items, Lowe's earnings came in at $0.68 per share, versus analysts' estimates of $0.66 per share. Lowe's now projects earnings of $1.48 to $1.54 per share for the year. In May, Lowe's lowered its outlook to a range of $1.56 to $1.64 per share, down from its earlier forecast of $1.60 to $1.72 per share. The Estee Lauder Companies Inc EL reported a 72% rise in its fourth-quarter net income. Estee Lauder reported its quarterly net income at $41.1 million, or $0.20 per share, up from $23.9 million, or $0.12 per share, in the year-ago period. Estee Lauder's net income, excluding restructuring costs, came in at $0.24 per share. Its revenue climbed 12% y/y to $2.06 billion from $1.84 billion. However, analysts were expecting earnings of $0.24 per share on revenue of $2.03 billion. For the year, Estee Lauder expects earnings of $4 to $4.20 per share, below analysts' estimates of $4.37 per share. Zagg Inc ZAGG reported a 42% rise in its second-quarter net income and raised its full-year revenue projections. Zagg reported its quarterly earnings at $2.7 million, or $0.10 per share, up from $1.9 million, or $0.08 per share, in the year-ago period. Excluding acquisition-related fees and other items, Zagg's earnings came in at $0.19 per share. Its revenue surged to $38.8 million from $15.1 million. However, analysts were expecting earnings of $0.12 per share on revenue of $25.7 million. Zagg now projects full-year revenue between $160 million to $170 million, up from its earlier view of $105 million to $110 million. Analysts expected revenue of $147.6 million. Sysco Corp SYY reported a 0.4% drop in its fiscal fourth-quarter profit. Sysco reported its quarterly profit at $336.3 million, or $0.57 per share, down from $337.8 million, or $0.57 per share, in the year-ago period. Its sales rose 0.7% to $10.43 billion. However, analysts were expecting earnings of $0.57 per share on revenue of $10.33 billion. Harmony Gold Mining Co HMY posted a rise in its net profit for the full year. Harmony Gold Mining's net profit came in at 617 million rand ($87 million), versus a loss of ZAR192 million ($24 million) in 2010. Its headline earnings surged to ZAR957 million from ZAR4 million in 2010. Gold output at the groups operations dropped 9% y/y to 1.393 million troy ounces from 1.429 million ounces. Michael Page International PLC MPGPF reported a 26% drop in its first-half pretax profit. Michael Page's earnings-per-share dropped to 9.7 pence (US$0.16), versus 12.8 pence, in the year-ago period. Its revenue surged 28% to 502.1 million pounds ($817.8 million). Leighton Holdings Ltd LGTHF swung to a net loss of 408.8 million Australian dollars (US$424.9 million) in the 12 months to the end of June, versus a profit of A$612 million, in the year-ago period. Leighton's revenue climbed 7% y/y to A$15.56 billion from A$14.56 billion last. On an underlying basis, Leighton reported a profit of about A$600 million.