General Growth Properties (NYSE:GGP) reported its results for the third quarter. The company’s core funds from operations (FFO) fell from the year earlier quarter to 23 cents. FFO, a measure of performance of a real estate investment trust (REIT), removes the profit-reducing effect that depreciation has on earnings. It comes in ahead of the consensus estimate of 22 cents per share. FFO, a measure of performance of a real estate investment trust (REIT), removes the profit-reducing effect that depreciation has on earnings.
Sandeep Mathrani, GGP’s chief executive officer commented, “We are 10 months into a long-term strategy of driving value from our existing portfolio through increasing occupancy and lease spreads, along with mining development opportunities. The strategy is yielding positive operating results and we anticipate it will continue for the fourth quarter and beyond.”
Competitors to Watch: The Macerich Company (NYSE:MAC), Urstadt Biddle Properties Inc. (NYSE:UBA), One Liberty Properties, Inc. (NYSE:OLP), Weingarten Realty Investors (NYSE:WRI), CBL & Associates Properties, Inc. (NYSE:CBL), Saul Centers, Inc. (NYSE:BFS), Kite Realty Group Trust (NYSE:KRG), Entertainment Properties Trust (NYSE:EPR), Federal Realty Inv. Trust (NYSE:FRT), and Alexander’s, Inc. (NYSE:ALX).
Kelly Services, Inc. (NASDAQ:KELYA) posted higher net income in the third quarter compared with a year-earlier period. Net income for Kelly Services, Inc. rose to $19.7 million (52 cents per share) vs. $9.6 million (26 cents per share) a year earlier. This is a twofold increase from the year earlier quarter. Revenue rose 9% to $1.4 billion from the year earlier quarter. KELYA beat the mean analyst estimate of 43 cents per share. It fell short of the average revenue estimate of $1.43 billion.
Carl T. Camden, President and Chief Executive Officer, said, “We are seeing continued demand for temporary staffing services ahead of last year. Today’s employers are seeking greater workforce flexibility as they adapt to new market realities, and Kelly(NYSE:R) is in an excellent position to provide customized solutions – particularly through outsourcing and consulting, and highly skilled professional and technical services. When coupled with our leaner cost structure, that business mix has the potential to accelerate profit growth going forward.”
Competitors to Watch: SFN Group Inc (NYSE:SFN), Barrett Business Services, Inc. (NASDAQ:BBSI), Robert Half Intl. Inc. (NYSE:RHI), Kforce Inc. (NASDAQ:KFRC), TrueBlue, Inc. (NYSE:TBI), Monster Worldwide (NYSE:MWW), ManpowerGroup (NYSE:MAN), LinkedIn (NYSE:LNKD), Volt Information Sciences, Inc. (NYSE:VOL), and On Assignment, Inc. (NASDAQ:ASGN).
Lions Gate Entertainment Corp.’s (NYSE:LGF) second quarter loss narrowed, beating estimates. Loss narrowed to $24.6 million (loss of 18 cents per diluted share) from $29.7 million (loss of 22 cents per share) in the same quarter a year earlier. Revenue fell 21.5% to $358.1 million from the year earlier quarter. LGF beat the mean analyst estimate of a loss of 36 cents per share. It fell short of the average revenue estimate of $421.4 million.
“Although we were disappointed by the performance of our films in the quarter, we were pleased with the strong and growing contributions of all of our other core businesses,” said Lionsgate Co-Chairman and Chief Executive Officer Jon Feltheimer. “We believe that our film performance will improve significantly and become more consistent as we release some of the potential franchise films on our upcoming slate, and our television and digital businesses and EPIX channel partnership will continue their strong and profitable growth trajectory.”
Competitors to Watch: DreamWorks Animation SKG, Inc. (NASDAQ:DWA), The Walt Disney Company (NYSE:DIS), Rentrak Corporation (NASDAQ:RENT), Time Warner Inc. (NYSE:TWX), Seven Arts Pictures PLC (NASDAQ:SAPX), CKX Inc. (NASDAQ:CKXE), News Corporation (NASDAQ:NWSA), Apple (NASDAQ:AAPL), and Sony Corporation (NYSE:SNE).