Earnings Roundup

Joy Global Inc JOYG reported a 46% surge in its fiscal third-quarter profit and raised its forecast for the year. Joy Global's quarterly profit climbed to $173.1 million, or $1.62 per share, from $118.5 million, or $1.13 per share, in the year-ago period. Its sales surged 34% to $1.14 billion. However, analysts were expecting earnings of $1.51 per share on sales of $1.15 billion. Joy Global raised its outlook for fiscal-year earnings from continuing operations by $0.40 per share to a range of $5.70 to $6.00 per share. Analysts expected earnings of $5.70 per share. Jos. A. Bank Clothiers Inc JOSB reported a 25% rise in its fiscal second-quarter net income. Jos. A. Bank reported its quarterly earnings at $20.6 million, or $0.74 per share, up from $16.5 million, or $0.59 per share, in the year-ago period. Its sales climbed to $230.7 million from $188.4 million. However, analysts were expecting earnings of $0.67 per share on sales of $208.5 million. Genesco Inc GCO reported upbeat Q2 results and raised FY12 earnings forecast. Genesco reported a quarterly loss of $392,000, or $0.02 per share, versus a loss of $3.18 million, or $0.14 per share, in the year-ago period. Excluding non-recurring items, Genesco's quarterly earnings came in at $0.22 per share, versus analysts' estimates of $0.10 per share. Its revenue surged 29.4% y/y to $470.6 million, versus analysts' estimates of $448.7 million. Genesco's quarterly comparable store sales surged 14%. Genesco lifted its FY12 earnings forecast to $3.35 to 3.42 per share, from its earlier forecast of $2.90 to 2.97 per share. Analysts expected FY12 earnings of $3.31 per share. LTX-Credence Corp LTXC reported a 12% drop in its fiscal fourth-quarter earnings and issued a downbeat forecast for its first fiscal quarter. LTX-Credence reported its quarterly profit at $12.1 million, or $0.24 per share, down from $13.7 million, or $0.27 per share, in the year-ago period. Excluding merger-related expenses and other items, LTX-Credence's earnings came in at $0.27 per share. LTX-Credence's sales dipped 14% to $62.7 million. In May, LTX-Credence forecast earnings between $0.25 and $0.29 per share on revenue of $63 million to $67 million. LTX-Credence projects FQ1 loss of $0.06 to $0.10 per share on revenue of $35 million to $39 million. However, analysts expected a profit of $0.26 per share on revenue of $64 million. Rex American Resources Corp REX reported a 90% jump in its fiscal second-quarter earnings. Rex American's quarterly profit surged to $2.35 million, or $0.25 per share, from $1.23 million, or $0.12 per share, in the year-ago period. Its earnings from continuing operations came in at $0.20 per share. Rex American's revenue climbed 13% to $73.9 million. However, analysts were expecting earnings of $0.20 per share on revenue of $90 million. The Fresh Market Inc TFM reported a 7% decline in its fiscal second-quarter earnings and lifted its full-year earnings forecast. Fresh Market reported its quarterly profit at $10.5 million, or $0.22 per share, down from $11.3 million, or $0.24 per share, in the year-ago period. Excluding items such as costs related to its initial public offering and changes to its tax status, Fresh Market's earnings came in at $0.14 per share. Its sales climbed 14% to $259.5 million. However, analysts were expecting earnings of $0.18 per share on revenue of $255 million. Fresh Market lifted its full-year earnings forecast to $1.03 to $1.06 per share, from its earlier forecast of $1.01 to $1.05 per share. Zale Corp ZLC released its results for the fiscal fourth quarter on Wednesday. Zale reported a quarterly loss of $32.6 million, or $1.02 per share, versus a loss of $28.5 million, or $0.89 per share, in the year-ago period. Its revenue climbed 9.4% to $377.3 million. However, analysts were expecting a loss of $1.15 per share on revenue of $360 million. Brown-Forman Corp BF reported a 6% rise in its fiscal first-quarter earnings. Brown-Forman reported its quarterly profit at $118.1 million, or $0.81 per share, up from $111.4 million, or $0.76 per share, in the year-ago period. Its sales climbed 13% to $840.3 million. However, analysts were expecting earnings of $0.83 per share on sales of $725 million. Canadian Imperial Bank of Commerce CM reported a 26% rise in its third-quarter profit and lifted its quarterly dividend for the first time in four years. CIBC's net income for the period climbed to C$808 million, or C$1.89 per share, from C$640 million, or C$1.53 per share, in the year-ago period. Adjusted for one-time items, CIBC's cash earnings came in at C$1.91 per share, versus analysts' estimates of C$1.81 per share. Its revenue climbed 3% to C$2 billion. CIBC raised its quarterly dividend to 90 Canadian cents from 87 Canadian cents. CIBC's net interest income surged 3.8% to C$1.61 billion. Its non-interest income climbed 11% to C$1.45 billion. Portugal Telecom SGPS PT reported a 40% drop in its second-quarter consolidated net income. Portugal Telecom's consolidated net income for the quarter declined to €98.1 million ($142 million), from €164.2 million, in the year-earlier period. Its revenue surged to €1.8 billion from €933.5 million. However, analysts were expecting a profit of €106 million. Bombardier Inc BDRBF reported a 53% rise in its second-quarter profit. Bombardier's quarterly net income climbed to $211 million, or 12 cents, from $138 million, or 7 cents, in the year-ago period. However, analysts were expecting earnings of 10 cents. Bombardier Aerospace reported earnings before interest and taxes at $105 million, up from $101 million, in the year-ago period. Its revenue climbed 10% to $2.1 billion. Bombardier Transportation's EBIT surged to $191 million, from $148 million, in the year-ago period. Its revenue rose 29% to $2.7 billion. Wendel WNDLF reported a rise in its net profit for the first half of 2011. Wendel's net profit for the period surged to EUR453 million, from EUR125 million, in the year-ago period. Wendel's consolidated sales climbed 21% to EUR3.14 billion. Hermes International SA HESAY reported a 50% rise in its first-half 2011 consolidated net income. Hermes' net income for the period surged to €290.9 million ($420.2 million), from €194.6 million, in the year-earlier period. Its sales climbed 22% at current exchange rates to €1.31 billion and surged 21% at constant exchange rates. Bouygues SA BOUYY reported a 27% drop in its first-half net profit. Bouygues' net profit for the period declined to EUR391 million. Bouygues's total sales climbed 4% to EUR15.2 billion, while operating profit gained 6% to EUR752 million. Vivendi SA VIVHY reported a strong rise in its first-half net income. Vivendi's earnings attributable to holders climbed to 2.56 billion euros ($3.7 billion), or 2.07 euros from share, from 1.27 billion euros, or 1.03, in the year-ago period. Its adjusted net income per share rose to 1.48 euros from 1.24. Vivendi's revenue climbed to 14.25 billion euros from 13.98 billion. Carrefour SA CRRFY swung to a first-half net loss. Carrefour posted a loss of 249 million euros ($359.2 million), versus a net income of 97 million euros, in the year-ago period. Excluding exceptional items, Carrefour's net income declined 49% to 153 million euros from 302 million. Its sales climbed to 39.61 billion euros from 38.71 billion. Lukoil Oil Company LUKOY reported a 67% surge in its net profit for the second quarter. Lukoil's net profit for the period under US Generally Accepted Accounting Principles climbed to $3.25 billion, from $1.95 billion, in the year-ago period. However, analysts were expecting net profit of $3.17 billion. Lukoil's revenue jumped 35% to $34.9 billion from $25.9 billion. Lukoil's earnings before interest, taxation, depreciation and amortization (EBITDA) climbed to $5.35 billion from $3.70 billion.