SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Friday's session are Dell Inc., Kohl's Corp. and News Corp.
After Thursday's closing bell, Dell Inc. (DELL) reported late Thursday profit fell 28% on restructuring costs, while earnings excluding those costs matched Wall Street's reduced expectations. Revenue rose 11% on higher sales of servers and storage gear.
Big 5 Sporting Goods Corp. (BGFV) reported third-quarter net earnings of $7.24 million, or 32 cents a share, down from $8.48 million, or 37 cents a share, in the year-ago period. Revenue rose to $206.8 million from $198 million last year, and same-store sales rose 3.8%. Analysts polled by Thomson First Call had estimated earnings of 37 cents a share on revenue of $212 million.
Delta Air Lines (DALRQ) reported that its third-quarter loss topped $1 billion as the bankrupt carrier's fuel bill rose 53% to $1.2 billion.
DreamWorks Animation SKG Inc. (DWA) said it swung to a third-quarter loss due to tax write-downs and a film inventory charge.
IDT Corp. (IDT) (IDTC) said that through its subsidiary, NTOP Acquisition Inc., it has commenced an offer to purchase all the outstanding stock of Net2Phone Inc. (NTOP) for $2 a share. IDT currently owns 56% of Net2Phone's Class A common stock. The offer is subject to the condition that IDT, directly or indirectly, own at least 90% of the outstanding shares of Net2Phone common stock following the consummation of the deal. Newark, N.J.-based IDT said it plans to merge Net2Phone into the company.
Kohl's Corp. (KSS) quarterly earnings jumped 15%, as sales climbed and costs came down.
Pacific Sunwear of California Inc. (PSUN) said its quarterly net earnings surged 20%, citing stronger year-over-year sales growth and an increase in its gross margin. The apparel retailer said it earned $40.5 million, or 54 cents a share, in the third quarter, compared to $33.7 million, or 44 cents a share, in the year-ago period. Its earnings matched the average Wall Street estimate tracked by Thomson First Call. Revenue totaled $377.5 million, an increase of 14%.
Pep Boys (PBY) late reported a third-quarter net loss of $11.4 million, or 21 cents a share. During the same period a year ago, Pep Boys reported net earnings of $6.67 million, or 11 cents a share. The Philadelphia-based provider of auto parts and services posted revenue of $545.2 million vs. $558.5 million. Analysts surveyed by Thomson First Call had forecast third-quarter revenue of $553 million. Additionally, the company reported that its same-store sales were down 2% during the period.
Tarrant Apparel Group (TAGS) reported fiscal third-quarter net earnings of $1.7 million, or 6 cents a share. During the same period a year ago, Textile Apparel reported a net loss of $4.02 million, or 14 cents a share. The Los Angeles-based apparel company posted revenue of $69.6 million vs. $38.1 million. Additionally, the company said it now expects fiscal 2005 net earnings of between $2 million and $2.5 million. The company had previously forecast income of $1 million to $2 million for the period. The company said it still sees 2005 revenue of between $210 million and $215 million.
VNUS Medical Technologies Inc. (VNUS) reported third-quarter net earnings of $1.65 million, or 11 cents a share, compared with $995,000, or 9 cents a share, a year ago. Revenue was $12.1 million, up from $10.1 million last year. The company forecast fourth-quarter earnings of $700,000 to $1 million, or 4 cents to 6 cents a share, on revenue $12 million to $12.4 million. It sees 2005 earnings of $5.3 million to $5.6 million, or 34 cents to 36 cents a share, on revenue of $47.7 million to $48 million. Analysts surveyed by Thomson First Call expect fourth-quarter earnings of 10 cents a share on revenue of $15 million, and 2005 earnings of 34 cents a share on revenue of $51 million.