For Immediate Release
Chicago, IL – August 20, 2010 – Zacks.com Analyst Blog features: Sysco Corp. (SYY), Ross Stores Inc. (ROST), Synopsys Inc. (SNPS), Hot Topic Inc. (HOTT) and Abercrombie & Fitch Co. (ANF ).
Here are highlights from Thursday’s Analyst Blog:
Sysco Misses Estimates
Sysco Corp. (SYY) delivered fourth-quarter 2010 earnings (excluding one-time items) of 53 cents per share, in line with the year-ago earnings. However, the result was below the Zacks Consensus Estimate of 58 cents.
Sysco’s earnings (excluding one-time items) surged 10.2% to $1.95 per share in fiscal 2010 from $1.77 in fiscal 2009.
Ross Stores Meets, Outlook Cautious
Ross Stores Inc. (ROST) announced that second-quarter fiscal 2010 earnings jumped 25.0% to $129.3 million or $1.07 per share, compared to $103.4 million or 82 cents in the year-ago period. Quarterly earnings matched the Zacks Consensus Estimate.
However, Ross Stores stated that it is maintaining a “somewhat cautious” outlook for the second half of fiscal 2010 amid tepid economic conditions and tough year-over-year comparisons. The company expects earnings of $4.18 to $4.27 per share in fiscal 2010, which is in line with the Zacks Consensus Estimate of $4.21; this guidance has declined 5 cents over the past 2 months.
Synopsys Posts Decent 3Q
Synopsys Inc. (SNPS) reported third quarter 2010 earnings per share (EPS) of 31 cents, which inched past the Zacks Consensus Estimate of 30 cents.
Revenue in the third quarter was $336.9 million, down from $345.2 million last year. Revenue was in line with management’s guidance range of $330.0 million to $338.0 million. License revenues (including time-based and upfront) were $301.2 million, down from $303.4 million in the year-ago quarter. Maintenance and service revenues were $35.7 million, down from $41.8 million.
Loss Doubles at Hot Topic
The loss at specialty retailer Hot Topic Inc. (HOTT) deepened in the second quarter of fiscal 2010 with the company posting a loss per share of 14 cents, twice the loss of 7 cents in the year-ago quarter and slumping further below the loss of 4 cents in the first quarter of fiscal 2010. The loss of 14 cents in the quarter was on par with the Zacks Consensus Estimate.
Loss per share in both the reported quarter as well as the corresponding year-ago quarter included approximately 2 cents per share of expense related to the company’s online music site, ShockHound.
Hot Topic’s close competitor Abercrombie & Fitch Co. (ANF ) reported adjusted earnings per share of 24 cents in its second quarter ended July 31, 2010, reversing a loss of 30 cents per share in the year-ago quarter. Sales increased 17% year over year to $745.8 million and comparable store sales increased 5%.
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ABERCROMBIE (ANF): Free Stock Analysis Report
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