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Caribbean Market Update

H&R Block Beats Estimates; Korn/Ferry Intl Jumps, SAIC Declines

Author: Mukesh Buch
Islandjournal.net
Last Update: 1:36 PM EDT June 13 2018


1:35 PM New York City, New York Crown Crafts profit plunged 25% but revenues surged 31%. H&R Block profit and revenues beats estimates. Korn/Ferry International net soared on 17% jump on revenues.

Tollbooth Index increased 68.14 or 0.4% to 15,543.98 but for the year-to-date soared 12.9%.

Earnings Review

Crown Crafts, Inc (CRWS) soared 9.6% or 54 cents to $6.19 after the infant and toddler products producer stated sales in the fourth-quarter ending on April 1 surged 31.1% from a year ago to $22.7 million.

Net income in the quarter plunged 25% to $1.2 million or 12 cents per diluted share from $1.6 million or 16 cents in the same quarter last year.

H&R Block Inc (HRB) tumbled 19.2% or $5.68 to $23.92 after the income tax return and other services provider reported revenues in the fourth-quarter ending in April increased 2.6% from a year ago to $2.4 billion.

Net income in the quarter soared 40.4% to $1.1 billion or $5.42 per diluted share from $783.4 million or $3.75 in the same quarter last year.

Korn/Ferry International (KFY) surged 15.1% or $8.53 to $65.06 after the high-level recruitment services provider said revenues in the fourth-quarter ending in April soared 17.1% from a year ago to $475.4 million.

Net income in the quarter jumped 53.2% to $41.2 million or 73 cents per diluted share from $26.9 million or 47 cents in the same quarter last year.

The consulting and recruitment services provider forecasted first-quarter revenues in the range of $450 million and $470 million and diluted loss per share may in the range of 74 cents to 66 cents.

Oxford Industries, Inc (OXM) declined 4.5% or $4.11 to $88.40 after the apparel wholesaler said net sales in the first-quarter ending on May 5 edged up 0.1% from a year ago to $272.6 million.

Net loss in the quarter narrowed to $2.6 million or 8 cents per diluted share from $7.8 million or 24 cents in the same quarter last year.

The apparel wholesaler forecasted fiscal 2018 net sales between $1.13 billion and $1.15 billion compared to reported net sales of $1.1 billion in fiscal 2017 and diluted earnings per share of $3.87.

Science Applications International Corporation (SAIC) declined 8.2% or $7.25 to $80.83 after the technical, engineering and enterprise information technology provider reported revenues in the first-quarter ending on May 4 advanced 7% from a year ago to $1.2 billion.

Net income in the quarter was flat at $49 million from a year ago period and diluted earnings per share increased to $1.13 from $1.08 in the same quarter last year.


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