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Earnings Review 13th November
By: iStockAnalyst   Thursday, November 13, 2008 11:23 PM
Symbols: CLNE, JWN, KEYN, KSS, LEE
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(By Salman - iStockAnalyst Writer)

Late on Thursday, Wisconsin  based department store chain Kohl's Corp (NYSE: KSS) said that its third quarter profit fell by 17% to $160.2 million, or 52 cents a share from $194 million, or 61 cents a share in the same quarter in 2007. Revenue dropped slightly less than 1% to $3.8 billion.  Consensus expectations were for net earnings of 52 cents a share on $3.88 billion in revenue. The company also lowered its outlook for fourth quarter and now expects to earn 90 cents to $1.05 a share, against its previous estimates of $1.34.Commenting on the results, chief Executive Kevin Mansell said "we still carry too much inventory." "We expect the environment will remain extremely competitive" during the holiday season," he added. Shares of Kohl's Corp. slumped 4.15% in extended trading on Thursday.

Upscale department store chain Nordstrom Inc (NYSE: JWN) reported that its third quarter net income dropped by 57% to $71 million, or 33 cents a share, from $166 million, or 68 cents a share in the same quarter last year. Revenue declined 8.4% to $1.8 billion in the period. Excluding one time items, earnings for the quarter were 30 cents a share on revenue of $1.82 billion. Analysts were looking for adjusted earnings of 31 cents a share. The Seattle-based company also lowered its earnings guidance for fourth year. The company now expects to earn in the range of $1.87 to $1.97 a share down from an earlier forecast of $2.55 to $2.65 a share. President Blake Nordstrom said on a conference call with investors "we are in unprecedented times and customers are lacking confidence today." Shares of Nordstrom fell over 5% in late trading on Thursday.

Clean Energy Fuels Corp (NASDAQ: CLNE) announced a third-quarter net loss of $10.6 million, or 24 cents a share compared with a loss of $1.5 million, or 3 cents a share in the corresponding quarter in 2007.Excluding  one time charges, the company would have lost 18 cents per share. Revenue grew 21% to $35.3 million from $29.2 million. Analysts on an average expected the natural gas provider to post revenue of $36.3 million. , president and chief executive said in a statement." Shares of the company plunged over 7% in extended trading on Thursday.

Keynote Systems (NASDAQ: KEYN) registered a fourth quarter net loss of $631,000 or $0.05 a share, compared with a loss of $3.5 million, or $0.19 cents per share a year ago. Sales rose to $21.1 million from $17.8 million in the same period. Chairman and CEO of Keynote, Umang Gupta said in a statement "Fiscal year 2008 proved to be very good for Keynote. We achieved overall annual revenue growth of 13.5 percent along with improved profitability. Our Mobile Test and Measurement business was the main driver of this growth, increasing 61 percent in the fourth quarter and 63 percent in the year as a whole.




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