Earnings Roundup

H.J. Heinz Co HNZ reported a decline in its fiscal first-quarter profit. Heinz's quarterly profit dropped to $226.1 million, or $0.70 per share, from $240.4 million, or $0.76 per share, in the year-earlier period. Its sales climbed to $2.85 billion from $2.48 billion. Excluding special items, Heinz's earnings came in at $0.78 per share, versus analysts' estimates of $0.76 per share. Heinz affirmed its adjusted profit forecast for the fiscal year of $3.24 to $3.32 per share, versus analysts' estimates of $3.65 per share. Williams-Sonoma Inc WSM reported a 28% rise in its FQ2 net income. Williams-Sonoma reported its quarterly profit at $39.3 million, or $0.37 per share, up from $30.8 million, or $0.28 per share, in the year-ago quarter. Its adjusted earnings came in at $0.37 per share. Williams-Sonoma's revenue climbed to $814.8 million from $775.6 million. However, analysts were expecting earnings of $0.36 per share on revenue of $822.8 million. Williams-Sonoma lifted its adjusted-earnings outlook for the year to a range of $2.17 to $2.22 per share, versus analysts' estimates of $2.22 per share. Medtronic Inc MDT released its results for the fiscal first quarter on Tuesday. Medtronic's quarterly earnings dropped to $821 million, or $0.77 per share, from $830 million, or $0.76 per share, in the year-earlier period. Weighted average shares outstanding fell to 1.07 billion from 1.09 billion. On an adjusted basis, Medtronic's earnings came in at $0.79 per share, versus analysts' estimates of $0.79 per share. Its revenue climbed 7% to $4.05 billion. American Woodmark Corp AMWD reported a wider-than-expected first-quarter loss. American Woodmark posted a quarterly loss of $2.7 million, or $0.19 per share, versus a loss of $3.41 million, or $0.24 per share, in the year-ago period. Its revenue climbed 20% to $131.2 million. Its sales and marketing costs surged 13%. However, analysts were expecting a loss of $0.17 per share on revenue of $116.2 million. Daktronics Inc DAKT reported downbeat Q1 results. Daktronics reported its quarterly net income at $3.4 million, or $0.08 per share, up from $2.4 million, or $0.06 per share, in the year-ago period. Its revenue surged 18% to $118.7 million. However, analysts were expecting earnings of $0.11 per share on revenue of $119.8 million. Melco Crown Entertainment Ltd MPEL swung to a first-half profit on Tuesday. Melco Crown reported its net profit for the period at $73.8 million, versus a loss of $42.6 million, in the year-ago period. Corinthian Colleges Inc COCO reported a strong drop in its fiscal fourth-quarter earnings. Corinthian Colleges reported its quarterly profit at $3.4 million, or $0.05 per share, down from $33.9 million, or $0.38 per share, in the year-ago period. Excluding impairment, facility closing and severance charges, Corinthian Colleges' earnings from continuing operations came in at $0.13 per share. Its revenue fell 12% to $425.2 million. Corinthian Colleges expected earnings of $0.11 to $0.13 per share on revenue of $423 million to $433 million in May. Corinthian Colleges projects a current-quarter loss of $0.02 to $0.04 per share on revenue of $414 million to $424 million. However, analysts were expecting a profit of $0.15 per share on revenue of $427 million. Bank of Montreal BMO reported upbeat fiscal third-quarter profit. Bank of Montreal's quarterly net income surged to C$793 million, or C$1.27 per share, from C$669 million, or C$1.13 per share, in the year-ago period. On an adjusted basis, Bank of Montreal's earnings came in at C$843 million, or C$1.36 per share. Analysts were expecting a profit of C$1.31 per share. Trina Solar Ltd TSL reported a 69% decline in its second-quarter profit. Trina Solar's quarterly net income declined to $11.8 million, or $0.17 per ADS. Its revenue climbed 56% to $579.5 million, versus analysts' estimates of $593.92 million. Trina Solar projects to ship between 480 to 520 (megawatt) MW of PV modules in the third quarter, versus 396 MW in the second quarter. Foster's Group Ltd FBRWY reported a fiscal-year net attributable loss at $89 million, versus a loss of $464.4 million, in the year-ago period. Foster's adjusted profit from continuing operations dropped 8% y/y to $816.7 million. Origin Energy Ltd OGFGF reported a 15% surge in its fiscal-year underlying profit. Origin Energy's bottom line net profit for the year dropped to A$186 million, from A$612 million, in the year-ago period. Its underlying profit surged to A$673 million from A$585 million. Origin Energy's revenue surged 21% to A$10.34 billion from A$8.53 billion. Origin Energy also declared a final dividend of 25 cents per share. Oil Search Ltd OISHY reported a strong rise in its first half profit. Oil Search's net profit for the period surged to US$114.5 million, from US$52.9 million, in the year-ago period. Its revenue increased to US$371.1 million, from US$276.6 million, in the year-ago period. China Telecom Corp Ltd CHA reported an 8% rise in its first-half net profit. China Telecom's net profit for the period rose to CNY9.81 billion, from CNY9.08 billion, in the year-ago period. However, analysts were expecting a net profit of CNY9.70 billion. China Telecom's revenue climbed 11% to CNY120.21 billion from CNY107.82 billion, versus analysts' estimates of CNY118.35 billion. Cairn Energy PLC CRNCY swung to a first-half profit on Tuesday. Cairn Energy reported its profit attributable to equity holders at $371.5 million, versus a loss of $12.6 million, in the year-ago period. Its revenue jumped to $1.34 billion from $332.6 million. Its production surged to 77,056 barrels of oil equivalent per day, from 32,866 barrels a day, in the year-ago period. Cairn's operating profit for the period climbed to $750 million from $94 million. Antofagasta PLC ANFGY reported a 54% jump in its first-half net profit. Antofagasta's net profit surged to $696.2 million, from $451.2 million, in the year-ago period. Its revenue climbed 73% to $3.05 billion. Copper production in the period climbed 14% to 288,500 tonnes. Persimmon PLC PSMMF reported a 52% rise in its adjusted pretax profit for the six months ended June 30, 2011. Persimmon's adjusted pretax profit for the period rose to GBP59.7 million. Its earnings per share came in at 15.4 pence. Persimmon's adjusted earnings per share surged 29% to 15.4 pence. Its revenue came in at GBP712.8 million. G4S PLC GFSZY reported a 3% surge in its first-half profit. G4S' profit before interest, tax and amortization rose to GBP239 million, from GBP233 million, in the year-ago period. Its revenue climbed 5% to GBP3.76 billion at constant exchange rates. John Wood Group PLC WDGJF reported upbeat first-half results and lifted its half-year dividend by 15%. John Wood Group reported a profit from continuing operations before tax and exceptional items, including acquisition costs, of $102.4 million, up 49% from the earlier year. Its revenue surged 17% to $2.83 billion. John Wood Group also lifted its interim dividend 15% to 3.9 cents.