Most Important Earnings Announcements Of Thursday June 7th

by: The Value Investor

While the official earnings season has already ended, many companies still reported their quarterly earnings reports today. In general investors were not to happy with their results. Shares in Cooper Companies, Lululemon Athletica and Titan Machinery fell significantly after releasing their earnings reports.

Thor Industries (THO) the manufacturer of recreation vehicles and small and mid-sized buses reported results for the third quarter of its fiscal 2012. The company reported a 9% increase in revenues to $926 million. Net income rose 3% to $41 million, or $0.78 per share. Shares in Thor fell 2.8% in after hours trading as margin compression as a result of an elevated promotional environment, disappointed investors.

Cooper Companies (COO) the global medical product company operating in the vision market and surgical market reported second quarter results today after the close. Cooper reported a 6% increase in quarterly revenues to $345 million. Earnings per share rose 53% compared to last year to $1.12. For the full year of 2012 Cooper expects annual revenues of $1.40-$1.44 billion and GAAP earnings per share of $4.90-$5.15, in line with analysts expectations. Despite the solid results shares fell 5.5% in after hours trading to $75. Shares fell already 2.5% in the regular trading session today.

Quicksilver (ZQK) the diversified developer and distributor of apparel and footwear reported its second quarter results after the market close. The company reported a 3% increase in revenues to $492 million on which the company reported a net loss of $5 million, or $0.03 per share. Shares have already lost 32% year to date as investors fear the impact of uncertainty in Europe on the retailer's bottom line. Quicksilver expects that the second half of its fiscal 2012 will compare favorably to last year.

UTI Worldwide (UTIW) the re-seller of cargo space and other supply chain solutions including customs clearance, reported its first quarter results for its fiscal year of 2013 before the market opened. UTI reported a 4.2% decline in quarterly revenues to $1.15 billion. Net revenues (which exclude transportation costs) fell 1.2% to $410.6 million. Net profit came in at $12.9 million, or $0.12 per share, compared to $0.08 last year. The results fell short of analysts expectations which guided for an EPS of $0.16. Shares in UTI ended the day 2.2% lower.

Lululemon Athletica (LULU) the designer of yoga and fitness apparel fell 8.8% today after the company reported strong first quarter results. Lululemon which trades at a premium valuation, issued a weaker second quarter guidance causing shares to fall. The company guided for full year revenues of $1.32-$1.34 billion and earnings per share of $1.55-$1.60.

The J.M. Smucker Company (SJM) the manufacturer of branded foods announced its fourth quarter results for 2012 before the market opening today. The company reported a 14% increase in sales to $1.35 billion, while net income rose 10% to $104.1 million, or $0.93 per share. The growth in revenues and profits was entirely attributable to the acquisition of Sara Lee foodservice and Rowland Coffee. Excluding the impact of acquisitions, volumes are down 7% on the year. J.M. Smucker guides for 7% sales growth in the full year of 2013. The results were largely in line with expectations and shares ended the day flat.

Titan Machinery (TITN) the owner of agricultural and construction stores fell 22% today after reporting its first quarter results for the fiscal year of 2013. Titan reported a 32% increase in revenues to $421.7 million. Net income came in at $7.5 million vs. $7.2 million last year, or $0.36 per share. Despite the disappointing earnings for the first quarter the company reiterates its full year 2013 outlook for annual revenues of $1.95-$2.10 billion and net income of $53.8-$58.0 million.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.