Yesterday was considered a light day, relative speaking, for earnings' reports. Only 88 U.S. companies released their quarterly earnings when the average has been 150+. The average EPS reported was 6 cents per share down from last year of 8 cents per share.
Let's highlight those who apparently impressed investors and in turn saw their share price bid up today.
AMC Networks AMCX reported that net revenues increased $12 million, or 4.6%, to $284 million over the third quarter of 2010, led by 3.9% growth at National Networks and a 13.8% increase in International and Other. Adjusted Operating Cash Flow (AOCF) totaled $123 million, an increase of 14.6% or $16 million versus the prior year period. The AOCF increase resulted from 16.0% growth at National Networks partially offset by a $1 million decline in AOCF at International and Other. Operating income was $94 million, an increase of 22.8% or $18 million versus the prior year period. The operating income increase resulted from 24.1% growth at National Networks partially offset by a $1 million increase in the operating loss at International and Other.
AMCX's third quarter net income from continuing operations was $40 million ($0.56 per diluted share), compared with $34 million ($0.49 per diluted share) in the third quarter of 2010. The increase resulted from the growth in operating income and a decrease in income tax expense partially offset by an increase in interest expense. Adjusted EPS was $0.55 while analysts were expecting $0.44 EPS according to Thomson Reuters. AMCX missed analysts consensus for their second quarter. AMCX shares rose today ▲ $2.38 +6.91%.
Netlist NLST revenues for the third quarter ended October 1, 2011, were $16.3 million, up 55 percent from revenues of $10.6 million for the third quarter ended October 2, 2010. Gross profit for the third quarter ended October 1, 2011, was $5.5 million, or 34 percent of revenues, compared to a gross profit of $3.0 million, or 29 percent of revenues, for the third quarter ended October 2, 2010, an increase of 83 percent.
Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) after adding back net interest expense, income taxes, depreciation, amortization, stock-based compensation and net non-operating income was $32,000 for the third quarter ended October 1, 2011, compared to an adjusted EBITDA loss of $4.0 million for the prior year period.
Netlist net loss for the third quarter ended October 1, 2011, was $1.0 million, or $0.04 loss per share, an improvement of 79 percent compared to the net loss in the prior year period of $4.9 million, or $0.20 loss per share. These results include stock-based compensation expense in the third quarter ended October 1, 2011, of $0.5 million compared with $0.4 million in the year-earlier period. Adjusted earnings were a loss of $0.02 per share while analysts were expecting a more modest retrace of $0.07 per share. This is the fifth time of the last six quarters Netlist has surprised analysts with higher than expected earnings. NLST price soared today ▲ $0.27 +16.36% with sellers and buyers exchanging 1.1 million shares.
Walt Disney DIS and the Mickey Mouse machine saw its share price appreciate ▲ $2.06 +5.95% on healthy volume of 21 million shares, 2x their 10 day average after reporting what appears to be a strong fourth quarter.
The Walt Disney Company reported that diluted earnings per share (EPS) for the year increased 24% to $2.52 from $2.03 in the prior year. For the quarter, diluted EPS was $0.58 compared to $0.43 in the prior-year quarter. Adjusted earnings was $0.59 per share beating analysts expectations of $0.54 per share. This is the fourth time Walt Disney has beat analysts so I expect them to adjust their numbers and the target price to rise.
According to Disney President and CEO Robert A. Iger, “Fiscal 2011 was a great year financially and strategically, demonstrating the strength of our brands and businesses with record revenue, net income and earnings per share.” “We are confident the Company is well-positioned to deliver long-term value for our shareholders with our focus on quality content, compelling uses of technology and global asset growth.”
Walt Disney's current PE ratio is 14.1x compared the Broadcasting and Entertainment Industry's 15.7.
Here is the entire list U.S. companies who reported earnings yesterday ranked from best to worse according to the difference in the EPS they reported and what analysts expected them to report.
Let's highlight those who apparently impressed investors and in turn saw their share price bid up today.
AMCX's third quarter net income from continuing operations was $40 million ($0.56 per diluted share), compared with $34 million ($0.49 per diluted share) in the third quarter of 2010. The increase resulted from the growth in operating income and a decrease in income tax expense partially offset by an increase in interest expense. Adjusted EPS was $0.55 while analysts were expecting $0.44 EPS according to Thomson Reuters. AMCX missed analysts consensus for their second quarter. AMCX shares rose today ▲ $2.38 +6.91%.
Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) after adding back net interest expense, income taxes, depreciation, amortization, stock-based compensation and net non-operating income was $32,000 for the third quarter ended October 1, 2011, compared to an adjusted EBITDA loss of $4.0 million for the prior year period.
Netlist net loss for the third quarter ended October 1, 2011, was $1.0 million, or $0.04 loss per share, an improvement of 79 percent compared to the net loss in the prior year period of $4.9 million, or $0.20 loss per share. These results include stock-based compensation expense in the third quarter ended October 1, 2011, of $0.5 million compared with $0.4 million in the year-earlier period. Adjusted earnings were a loss of $0.02 per share while analysts were expecting a more modest retrace of $0.07 per share. This is the fifth time of the last six quarters Netlist has surprised analysts with higher than expected earnings. NLST price soared today ▲ $0.27 +16.36% with sellers and buyers exchanging 1.1 million shares.
The Walt Disney Company reported that diluted earnings per share (EPS) for the year increased 24% to $2.52 from $2.03 in the prior year. For the quarter, diluted EPS was $0.58 compared to $0.43 in the prior-year quarter. Adjusted earnings was $0.59 per share beating analysts expectations of $0.54 per share. This is the fourth time Walt Disney has beat analysts so I expect them to adjust their numbers and the target price to rise.
According to Disney President and CEO Robert A. Iger, “Fiscal 2011 was a great year financially and strategically, demonstrating the strength of our brands and businesses with record revenue, net income and earnings per share.” “We are confident the Company is well-positioned to deliver long-term value for our shareholders with our focus on quality content, compelling uses of technology and global asset growth.”
Walt Disney's current PE ratio is 14.1x compared the Broadcasting and Entertainment Industry's 15.7.
Here is the entire list U.S. companies who reported earnings yesterday ranked from best to worse according to the difference in the EPS they reported and what analysts expected them to report.
| Rank | Symbol | Company | Quarter | Prev Year | EPS Estimate | EPS Actual | Diff |
|---|---|---|---|---|---|---|---|
| 1 | HHC | Howard Hughes Corp | Q3 2012 | 0 | $0.09 | $4.33 | $4.24 |
| 2 | VRNM | Verenium Corp | Q3 2012 | ($0.54) | ($0.28) | $0.12 | $0.40 |
| 3 | INFU | InfuSystem Holdings Inc | Q3 2012 | $0.01 | $0.00 | $0.33 | $0.33 |
| 4 | ANAC | Anacor Pharmaceuticals Inc | Q3 2012 | 0 | ($0.41) | ($0.16) | $0.25 |
| 5 | JST | Jinpan International Ltd | Q3 2012 | $0.27 | $0.30 | $0.51 | $0.21 |
| 6 | ARQL | Arqule Inc | Q3 2012 | ($0.14) | ($0.22) | ($0.04) | $0.18 |
| 7 | NAFC | Nash Finch Co | Q3 2012 | $1.08 | $1.07 | $1.25 | $0.18 |
| 8 | WLDN | Willdan Group Inc | Q3 2012 | $0.11 | $0.14 | $0.29 | $0.15 |
| 9 | DUSA | Dusa Pharmaceuticals Inc | Q3 2012 | $0.00 | $0.00 | $0.13 | $0.13 |
| 10 | AMCX | AMC Networks Inc | Q3 2012 | 0 | $0.44 | $0.55 | $0.11 |
| 11 | RLOG | Rand Logistics Inc | Q2 2012 | $0.32 | $0.26 | $0.37 | $0.11 |
| 12 | SFUN | Soufun Holdings Ltd | Q3 2012 | $0.90 | $0.42 | $0.52 | $0.10 |
| 13 | BNVI | Bionovo Inc | Q3 2012 | ($0.21) | ($0.16) | ($0.07) | $0.09 |
| 14 | DSCO | Discovery Laboratories Inc | Q3 2012 | ($0.03) | ($0.28) | ($0.20) | $0.08 |
| 15 | USHS | US Home Systems Inc | Q3 2012 | $0.09 | $0.15 | $0.22 | $0.07 |
| 16 | NLST | Netlist Inc | Q3 2012 | ($0.18) | ($0.07) | ($0.02) | $0.05 |
| 17 | DIS | Walt Disney Co | Q4 2012 | $0.45 | $0.54 | $0.59 | $0.05 |
| 18 | VIA.B | Viacom Inc | Q4 2012 | $0.75 | $1.02 | $1.06 | $0.04 |
| 19 | MMS | Maximus Inc | Q4 2012 | $0.54 | $0.60 | $0.64 | $0.04 |
| 20 | MPEL | Melco Crown Entertainment Ltd | Q3 2012 | $0.03 | $0.16 | $0.20 | $0.04 |
| 21 | RDA | Reader S Digest Association Inc | Q3 2012 | 0 | $0.32 | $0.36 | $0.04 |
| 22 | KLIC | Kulicke and Soffa Industries Inc | Q4 2012 | $0.78 | $0.27 | $0.31 | $0.04 |
| 23 | STAG | STAG Industrial Inc | Q3 2012 | 0 | $0.25 | $0.28 | $0.03 |
| 24 | WX | Wuxi Pharmatech (Cayman) Inc | Q3 2012 | $0.26 | $0.25 | $0.28 | $0.03 |
| 25 | GSIG | GSI Group Inc | Q3 2012 | 0 | $0.23 | $0.26 | $0.03 |
| 26 | FRF | Fortegra Financial Corp | Q3 2012 | 0 | $0.18 | $0.21 | $0.03 |
| 27 | BODY | Body Central Corp | Q3 2012 | 0 | $0.16 | $0.19 | $0.03 |
| 28 | KOS | Kosmos Energy Ltd | Q3 2012 | 0 | $0.14 | $0.17 | $0.03 |
| 29 | GSB | GlobalSCAPE Inc | Q3 2012 | 0 | $0.00 | $0.03 | $0.03 |
| 30 | NVDA | Nvidia Corp | Q3 2012 | $0.15 | $0.26 | $0.29 | $0.03 |
| 31 | RPRX | Repros Therapeutics Inc | Q3 2012 | ($0.13) | ($0.35) | ($0.32) | $0.03 |
| 32 | ACM | Aecom Technology Corp | Q4 2012 | $0.58 | $0.73 | $0.75 | $0.02 |
| 33 | PFSW | PFSweb Inc | Q3 2012 | ($0.16) | ($0.14) | ($0.12) | $0.02 |
| 34 | TZYM | Tranzyme Inc | Q3 2012 | 0 | ($0.28) | ($0.26) | $0.02 |
| 35 | MRNA | Marina Biotech Inc | Q3 2012 | ($0.35) | ($0.07) | ($0.05) | $0.02 |
| 36 | CHGS | China Gengsheng Minerals Corp | Q3 2012 | $0.04 | $0.01 | $0.03 | $0.02 |
| 37 | HOKU | Hoku Corp | Q2 2012 | ($0.04) | ($0.16) | ($0.14) | $0.02 |
| 38 | ONP | Orient Paper Inc | Q3 2012 | $0.10 | $0.28 | $0.30 | $0.02 |
| 39 | ADLR | Adolor Corp | Q3 2012 | ($0.09) | $0.18 | $0.19 | $0.01 |
| 40 | ZX | China Zenix Auto International Ltd | Q3 2012 | 0 | $0.26 | $0.27 | $0.01 |
| 41 | XIN | Xinyuan Real Estate Co Ltd | Q3 2012 | $0.18 | $0.41 | $0.42 | $0.01 |
| 42 | KSS | Kohl's Corp | Q3 2012 | $0.63 | $0.79 | $0.80 | $0.01 |
| 43 | CLSN | Celsion Corp | Q3 2012 | ($0.38) | ($0.25) | ($0.24) | $0.01 |
| 44 | CECE | Ceco Environmental Corp | Q3 2012 | $0.05 | $0.13 | $0.14 | $0.01 |
| 45 | FLO | Flowers Foods Inc | Q3 2012 | $0.23 | $0.22 | $0.23 | $0.01 |
| 46 | MOC | Command Security Corp | Q2 2012 | $0.04 | $0.04 | $0.05 | $0.01 |
| 47 | ACTV | The Active Network Inc | Q3 2012 | 0 | ($0.04) | ($0.03) | $0.01 |
| 48 | ABTL | Autobytel Inc | Q3 2012 | ($0.07) | $0.00 | $0.01 | $0.01 |
| 49 | QBAK | Qualstar Corp | Q1 2012 | $0.01 | ($0.01) | $0.00 | $0.01 |
| 50 | HILL | Dot Hill Systems Corp | Q3 2012 | $0.00 | ($0.03) | ($0.02) | $0.01 |
| 51 | MSCC | Microsemi Corp | Q4 2012 | $0.35 | $0.53 | $0.53 | $0.00 |
| 52 | GNMK | Genmark Diagnostics Inc | Q3 2012 | ($0.42) | ($0.29) | ($0.29) | $0.00 |
| 53 | JWN | Nordstrom Inc | Q3 2012 | $0.53 | $0.59 | $0.59 | $0.00 |
| 54 | MATW | Matthews International Corp | Q4 2012 | $0.66 | $0.71 | $0.71 | $0.00 |
| 55 | BORN | China New Borun Corp | Q3 2012 | $0.37 | $0.41 | $0.41 | $0.00 |
| 56 | YTEC | Yucheng Technologies Ltd | Q3 2012 | $0.11 | $0.14 | $0.14 | $0.00 |
| 57 | NEI | Network Engines Inc | Q4 2012 | $0.03 | $0.05 | $0.05 | $0.00 |
| 58 | SPH | Suburban Propane Partners LP | Q4 2012 | ($0.62) | ($0.61) | ($0.61) | $0.00 |
| 59 | SREV | ServiceSource International Inc | Q3 2012 | 0 | $0.01 | $0.01 | $0.00 |
| 60 | COGO | Cogo Group Inc | Q3 2012 | $0.21 | $0.15 | $0.15 | $0.00 |
| 61 | RENN | Renren Inc | Q3 2012 | 0 | $0.01 | $0.00 | ($0.01) |
| 62 | VIVO | Meridian Bioscience Inc | Q4 2012 | $0.15 | $0.19 | $0.18 | ($0.01) |
| 63 | BITA | Bitauto Holdings Ltd | Q3 2012 | 0 | $0.13 | $0.11 | ($0.02) |
| 64 | COSI | Cosi Inc | Q3 2012 | 0 | $0.00 | ($0.03) | ($0.03) |
| 65 | EVOL | Evolving Systems Inc | Q3 2012 | $0.18 | $0.00 | ($0.03) | ($0.03) |
| 66 | ZGNX | Zogenix Inc | Q3 2012 | 0 | ($0.55) | ($0.59) | ($0.04) |
| 67 | TSPT | Transcept Pharmaceuticals Inc | Q3 2012 | ($0.21) | ($0.33) | ($0.37) | ($0.04) |
| 68 | BANC | First Pactrust Bancorp Inc | Q3 2012 | $0.66 | $0.08 | $0.04 | ($0.04) |
| 69 | PSTR | PostRock Energy Corp | Q3 2012 | ($0.49) | $0.15 | $0.10 | ($0.05) |
| 70 | RGDX | Response Genetics Inc | Q3 2012 | ($0.07) | ($0.02) | ($0.07) | ($0.05) |
| 71 | QUAD | Quad/Graphics Inc | Q3 2012 | $0.58 | $0.86 | $0.80 | ($0.06) |
| 72 | DAR | Darling International Inc | Q3 2012 | $0.14 | $0.41 | $0.35 | ($0.06) |
| 73 | COVR | Cover All Technologies Inc | Q3 2012 | $0.02 | $0.03 | ($0.03) | ($0.06) |
| 74 | ENG | ENGlobal Corp | Q3 2012 | ($0.03) | $0.06 | ($0.01) | ($0.07) |
| 75 | ELOS | Syneron Medical Ltd | Q3 2012 | ($0.15) | ($0.11) | ($0.18) | ($0.07) |
| 76 | TSRX | Trius Therapeutics Inc | Q3 2012 | ($0.57) | ($0.37) | ($0.44) | ($0.07) |
| 77 | BONE | Bacterin International Holdings Inc | Q3 2012 | 0 | ($0.01) | ($0.08) | ($0.07) |
| 78 | RRST | Rrsat Global Communications Network Ltd | Q3 2012 | $0.13 | $0.11 | $0.04 | ($0.07) |
| 79 | BRKS | Brooks Automation Inc | Q4 2012 | $0.38 | $0.27 | $0.19 | ($0.08) |
| 80 | MCP | Molycorp Inc | Q3 2012 | ($0.14) | $0.70 | $0.61 | ($0.09) |
| 81 | CHC | China Hydroelectric Corp | Q3 2012 | $0.03 | $0.04 | ($0.08) | ($0.12) |
| 82 | UNXL | Uni Pixel Inc | Q3 2012 | 0 | ($0.13) | ($0.26) | ($0.13) |
| 83 | TSBK | Timberland Bancorp Inc | Q4 2012 | ($0.06) | $0.10 | ($0.05) | ($0.15) |
| 84 | KTEC | Key Technology Inc | Q4 2012 | $0.19 | ($0.05) | ($0.21) | ($0.16) |
| 85 | BLD | Baldwin Technology Co Inc | Q1 2012 | $0.00 | $0.00 | ($0.17) | ($0.17) |
| 86 | ADES | ADA-ES Inc | Q3 2012 | $0.16 | ($0.28) | ($0.50) | ($0.22) |
| 87 | DRL | Doral Financial Corp | Q3 2012 | ($0.19) | ($0.01) | ($0.26) | ($0.25) |
| 88 | PENX | Penford Corp | Q4 2012 | ($0.26) | $0.06 | ($0.26) | ($0.32) |
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