Important Earnings Announcements From Tuesday, June 12th

Includes: CASY, FDS, KORS
by: The Value Investor

While the official earnings season has already ended, many companies are still publishing their quarterly results. On Tuesday, investors applauded the earnings release of Michael Kors, while selling their shares in FactSet Research.

Michael Kors (KORS), a designer and distributor of luxury apparel and accessories, reported strong fourth quarter results on Tuesday. The company reported a 58% increase in quarterly revenues to $380 million. Revenue growth was driven by an 80% increase in net retail sales to $172.2 million as the company opened 71 new stores. Net income came in at $43.6 million, or $0.22 per share.

The company expects diluted earnings per share between $0.18 and $0.20 for the first quarter of 2013 on revenues of $360-$380 million. For the full year of 2013, the company expects to earn between $1.08 and $1.12 per share on revenues of $1.7-$1.8 billion. Investors were enthusiastic about the results and sent shares 7.7% higher. So far this year, shares are up 50% after the company's successful public offering in December of 2011.

Caseys General Stores (CASY), an operator of convenience stores in a range of Midwestern states, published its fourth quarter results Tuesday after the close. The company reported fourth quarter net profits of $23.1 million, or $0.61 per share. This compares to earnings per share of $0.60 last year. The company reported annual earnings of $117 million, or $3.07 per share. The company remains optimistic about future growth opportunities in 2013, driven by a 4-6% store increase and growth in gasoline, grocery and prepared food sales. Investors were not impressed as shares were trading 5% lower in after hours trading.

FactSet Research Systems (FDS), a provider of financial information and analytical applications, reported its third quarter results Tuesday. FactSet reported a 10% increase in quarterly revenues to $202 million. Net income rose 11% to $48.0 million, resulting in earnings per share of $1.05. The company furthermore announced it had repurchased 276,000 shares during the quarter for approximately $27.3 million. The company has $256 million remaining under its current repurchase authorization.

For the fourth quarter of 2012, the company expects to generate revenues between $204 million and $208 million. GAAP diluted earnings per share are expected to come in between $1.06 and $1.08. Investors are not impressed with the results and sent the shares 12.3% lower in Tuesday's session, thereby almost erasing the year-to-date gains.

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