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Caribbean Market Update

Barnes & Noble Ed Net Swings to Profit, MSC Direct Plunges

Author: Mukesh Buch
Islandjournal.net
Last Update: 12:18 PM ET July 12 2017


12:10 PM New York AAR net and revenues jumped. Barnes & Noble forecasted flat sales in fiscal 2018. Bank Of The Ozarks interest income soared on acquisitions. Fastenal net jumped 13.2%. MSC Industrial Direct plunged after net income declined.

Tollbooth Index increased 87 or 0.7%to 12,182.86.

Earnings Review

AAR Corp (AIR) rose 8 cents to $36.80 after the aircraft equipment provider said sales in the fourth-quarter ending in May jumped 5.1% from a year ago to $492.3 million.

Net income in the quarter surged 76.7% to $21.2 million or 62 cents per diluted share from $12 million or 34 cents in the same quarter last year.

Barnes & Noble Education Inc (BNED) jumped 3.7% or 37 cents to $10.41 after the educational bookstores operator stated sales in the fourth-quarter ending in June soared 16.3% from a year ago to $342.8 million.

Comparable store sales in the quarter increased 1.4%.

Net in the quarter swung to profit $0.2 million from a loss of $2.8 million or 6 cents in the same quarter last year

The bookstores operator forecasted fiscal 2018 sales in the range of $2.25 billion to $2.35 billion.

Bank Of The Ozarks Inc (OZRK) gained 26 cents to $46.81 after the financial services provider reported sales in the second-quarter ending in June surged 69.8% from a year ago to $202.1 million.

Net income in the quarter soared 66.2% to $90.5 million or 73 cents per diluted share from $54.5 million or 60 cents in the same quarter last year.

The bank said total deposits jumped 59.3% to $16.2 billion and total loans and leases advanced 56.1% to $15.2 billion and total assets increased 63.4% to $20.1 billion.

Fastenal Company (FAST) increased 1.2% or 51 cents to $44.08 after the industrial and construction equipment supplier said net sales in the second-quarter ending in June advanced 10.6% from a year ago to $1.1 billion.

Net income in the quarter jumped 13.2% to $148.9 million or 52 cents per diluted share from $131.5 million or 45 cents in the same quarter last year.

MSC Industrial Direct Co Inc (MSM) plunged 14% or $12.19 to $74.96 after the cutting and measuring instruments distributor stated net sales in the third-quarter ending on June 3rose 2.3% from a year ago to $743.9 million.

Net income in the quarter slumped 3.1% to $62.8 million or $1.09 per diluted share from $64.8 million or $1.05 in the same quarter last year.

The industrial instruments distributor forecasted fourth-quarter net sales between $732 million and $746 million and diluted earnings per share in the range of 97 cents to $1.01.


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