While the official earnings season has already ended, many companies still reported their quarterly earnings reports on Friday, June 8th. In general, investors were rather happy with the results, sending shares of Hurco, Optical Cable and Ferrellgas Partners higher during the trading session.
Seneca Foods (SENEA), the producer and distributor of processed fruits and vegetables, reported its fourth-quarter and full-year results for its fiscal year 2012. For the full-year 2012, Seneca reported a 36% decrease in net profits to $11.3 million, or $0.92 per share. The company reported a 5.6% increase in its annual revenues to $1.26 billion. Shares rose 2.8% on the report Friday.
Hurco Companies (HURC), the industrial technology company selling machine tools, announced its second-quarter results on Friday. The company reported an 11% increase in quarterly sales to $46 million, driven by a strong performance in Europe and the Asia-Pacific region. Net profits increased to $3.0 million, or $0.45 per share. Shares fell a little more than 7% in Friday's session, thereby almost erasing the returns year to date. Investors were not pleased with a 30% decline in new orders.
Optical Cable Company (OCC), the manufacturer of fiber optic and copper data communications cabling, reported its second-quarter results on Friday. The company reported a 28% increase in net sales to $22.1 million. Net profits came in just shy of $1.0 million, or $0.15 per share, compared to a breakeven result the year before. Investors were very pleased with the earnings report and sent shares 30% higher on Friday.
Ferrellgas Partners (FGP), the distributor of propane and related equipment, reported its third-quarter results. The company reported revenues of $630 million, down 14% on the year. Net profits increased from $3.3 million to $21.1 million, resulting in earnings per share of $0.26, on lower severance charges and no extinguishment of debts. The company is optimistic about the near-term outlook as the warm winter, which depressed volumes in the previous quarter, "sparks an early start to the grilling season." Shares ended Friday 7% higher, limiting year-to-date losses to 9% as investors were relieved about upbeat comments for the fourth quarter.
KMG Chemical (KMGB), the manufacturer and distributor of specialty chemicals, reported its third-quarter results on Friday. The company reported a 7.6% increase in quarterly sales to $66.6 million as a result of improved pricing. Net income rose 52% to $4.0 million, or $0.35 per share. The integration of the company's Electronic Chemical plants and targeted price actions boosted the bottom line. Investors were not impressed with the report and sent shares 1.5% lower on Friday.