Will These 3 Companies Earnings Shake-Up the Stock Market?
J.M. Smucker Company (NYSE:SJM): Published its fourth quarter earnings today with profits down since last year. The manufacturer and marketer of branded food products worldwide beat analyst expectations by a slight margin, but enough to send shares rolling today, up 2.25% by close. Net income for J. M. Smucker Company fell to $94.9 million (82 cents/share) vs. $120.6 million ($1.01/share) a year earlier, a decline of 21.3% from the year earlier quarter, while revenues rose 11% to $1.19 billion YoY. Tim Smucker, Chairman of the Board and Co-Chief Executive Officer commented the company’s results, saying “Our long-term focus and strategy of owning and marketing leading brands have allowed us to deliver another year of strong sales and earnings. We are gratified to have achieved these results in a challenging operating environment. Our ongoing success provides opportunities to return value to our shareholders.”
National Semiconductor Corp. (NYSE:NSM): Made public its results from last year’s fourth quarter today, and semiconductor products and circuits maker’s stock was up and down, breaking even on the day as it failed to beat mean analyst estimates. Gross margins fell 2.3 percentage points to 66.5%. The contraction appeared to be driven by falling revenue, as the figure fell 6.1% from the year earlier while costs rose 0.9%, while net income for the semiconductor company fell to $67.1 million (26 cents/share) vs. $79.2 million (33 cents/share) a year earlier. A decline of 15.3% from the year earlier quarter. National’s chief executive officer Don Macleod revealed, “Business conditions were a little better than we expected in the quarter, with bookings up 21%, the first increase for three quarters, we were able to get back to meaningful quarterly revenue growth.”
RealD Inc. (NYSE:RLD): Finally, RealD reported its results for the fourth quarter today as well. RealD Inc is engaged in global licensor of 3D technologies. The company swung to a profit of $4.3 million (8 cents/share) vs. a loss of $20.9 million or a loss of 85 cents per share in the year earlier quarter. According to Michael V. Lewis, Chairman and Chief Executive Officer, “Despite challenging box office comparisons that impacted the industry during the quarter, RealD delivered 59% year-over-year growth in Adjusted EBITDA. Equally as important, we deployed a record 3,700 RealD Cinema Systems that will position the Company to benefit from a growing slate of 3D films scheduled for release this summer and beyond. Our significant increase in RealD-enabled screens, particularly in international markets, will enable a larger audience of moviegoers around the world to enjoy RealD’s distinctive and immersive 3D visual experience.” Shares were down almost 2% on the day.