DISH Network and SYSCO Shares Hot After Earnings
DISH Network Corporation (NASDAQ:DISH) reported its results for the third quarter. Net income for the catv systems company rose to $319.1 million (71 cents per share) vs. $245 million (55 cents per share) in the same quarter a year earlier. This marks a rise of 30.3% from the year earlier quarter. Revenue rose 12.3% to $3.6 billion from the year earlier quarter. DISH fell short of the mean analyst estimate of 72 cents per share. Analysts were expecting revenue of $3.65 billion.
“DISH delivered another quarter of strong growth in net income compared to the same period last year,” said Joe Clayton, president and CEO of DISH Network. “Our net subscriber loss improved over the second quarter of this year but continued to be affected by increased competitive pressures, including aggressive competitive promotional offers, discounting and a weak housing market. Going forward, we plan to build on the momentum of our introduction of the Blockbuster-branded programming service which allows DISH customers to stream movies and TV shows as well as receive DVDs by mail.”
Competitors to Watch: DIRECTV (NASDAQ:DTV), TiVo Inc. (NASDAQ:TIVO), Netflix, Inc. (NASDAQ:NFLX), Comcast Corporation (NASDAQ:CMCSA), Cablevision Systems Corp. (NYSE:CVC), Time Warner Cable Inc. (NYSE:TWC), Hughes Communications Inc. (NASDAQ:HUGH), and Liberty Media Corp (NASDAQ:LINTA).
SYSCO Corporation (NYSE:SYY) reported net income above Wall Street’s expectations for the first quarter. Net income for SYSCO Corporation rose to $302.7 million (51 cents per share) vs. $299.1 million (51 cents per share) in the same quarter a year earlier. This marks a rise of 1.2% from the year earlier quarter. Revenue rose 8.6% to $10.59 billion from the year earlier quarter. SYY reported adjusted net income of 55 cents per share. By that measure, the company beat the mean estimate of 52 cents per share. Analysts were expecting revenue of $10.49 billion.
“I am encouraged by our underlying business performance during the quarter as softening consumer sentiment contributed to ongoing challenges for the foodservice industry,” said Bill DeLaney, Sysco’s president and chief executive officer. “Our associates remain committed to supporting our customers by meeting and exceeding their expectations each and every day.”
Competitors to Watch: Nash-Finch Company (NASDAQ:NAFC), Spartan Stores, Inc. (NASDAQ:SPTN), United Natural Foods, Inc. (NASDAQ:UNFI), Synergy Brands, Inc. (SYBR), Core-Mark Holding Co., Inc. (NASDAQ:CORE), AMCON Distributing Co. (AMEX:DIT), G. Willi-Food Intl. Ltd. (NASDAQ:WILC), ConAgra (NYSE:CAG), Kraft (NYSE:KFT), Kellogg (NYSE:K) and SUPERVALU INC. (NYSE:SVU)