(By Arun - iStockAnalyst Writer) Here is a summary of the notable earnings for today’s markets as we
welcome the ideologies of a new President elect, hoping the dawn of a
new era for the nation as well as the financial markets.
Checkpoint Systems, Inc. (NYSE: CKP)
reported Net revenues for the third quarter of 2008 at $234.0Mn
compared to net revenues of $204.6Mn in the third quarter of 2007, an
increase of 14.4%. Net earnings from continuing operations for the
third quarter were $12.8Mn, or $0.32 per diluted share, compared to net
earnings from continuing operations of $14.3Mn, or $0.35 per diluted
share. Gross profit was $97.6Mn, or 41.7% of revenue, compared to
$85.6Mn, or 41.9% of revenue, for the third quarter of 2007. Checkpoint
updated its guidance for its 2008 full year financial results. Net
revenues, at current exchange rates, are expected to be in the range of
$920Mn to $935Mn. "Moving forward, Checkpoint is taking the necessary
steps to effectively operate through the current difficult economic
environment while also continuing to manage its business for long-term
growth," added Mr. van der Merwe, President and Chief Executive Officer
of Checkpoint Systems.
Cognizant Technology Solutions (NASDAQ: CTSH)
reported a 31% increase in quarterly revenues to $734.7Mn from the
year-ago quarter. Quarterly diluted EPS on a GAAP basis was $0.38,
compared to $0.32 in the year-ago quarter. The Company has maintained
the full year revenue guidance it provided last quarter. Fiscal 2008
revenue is anticipated to be at least $2.81Bn, while Fiscal 2008
diluted EPS expected to be at least $1.45 on a GAAP basis. "During this
economic downturn we are continuing to focus on operational excellence
and increased utilization while re-investing in the business in order
to deepen our sector and domain skills, broaden our offerings and
strengthen our consultancy expertise, thus ensuring we are the
preferred partner for our clients," said Gordon Coburn, Chief Financial
and Operating Officer.
Corinthian Colleges, Inc. (NASDAQ: COCO)
reported Net revenue at $289.6Mn versus $244.5Mn, up 18.4%, Diluted
earnings per share were $0.07 versus $0.05. The diluted loss per share
from discontinued operations was $0.01. Total student starts were
30,075 versus 28,030, an increase of 7.3%. Educational services
expenses were 61.1% of revenue in Q1 09 versus 59.2% in Q1 08. The
increase was mainly the result of higher bad debt expense. In the
second quarter of fiscal 2009, the company expects student start growth
of 10% - 12% compared with the second quarter of the prior year; while
revenue would be between $304 - $309Mn. Corinthian Colleges, Inc. is
one of the largest post-secondary education companies in North America.
The Company's mission is to prepare students for careers in demand or
for advancement in their chosen field.
Devon Energy Corporation (NYSE: DVN)
today reported net earnings for the quarter ended September 30, 2008,
of $2.6Bn, or 5.87 per diluted common share. Third-quarter 2008 net
earnings were 256 percent greater than Devon's third-quarter 2007 net
earnings of $735Mn, or 1.63 per diluted common share. This was the
highest quarterly net earnings in the company's history. Third-Quarter
Oil and Gas sales increased by 62 Percent, attributable to higher
natural gas production combined with increased oil, natural gas and
natural gas liquids pricing. The company estimates that the hurricanes
reduced third-quarter 2008 oil and gas production by approximately
1.5Mn Boe. Devon drilled 636 wells in the third quarter of 2008, with
an overall success rate of 97 percent. In the third quarter of 2008,
Devon repurchased approximately 3.6Mn shares of its common stock for
approximately $363Mn.
Duke Energy (NYSE: DUK)
today reported adjusted diluted earnings per share of 33 cents for the
third-quarter 2008, compared with 45 cents for the same period last
year.