Several companies declared their quarterly financial results before the market opened, while many companies are scheduled to report their earnings after the closing bell today. Some notable earners are discussed here.
Zebra Technologies Corp. (Nasdaq: ZBRA), which provides enabling technologies that allow customers to take smarter actions, announced its fiscal 2011 third quarter earnings early today. The company's quarterly net income of $45 million, or $0.84 per diluted share, for 2011 includes $0.20 per diluted share in income from discontinued operations. Third quarter 2011 income from continuing operations of $34.18 million, or $0.64 per diluted share, compared with $27.24 million, or $0.48 per diluted share, for the third quarter of 2010. Net sales for the quarter ended October 1, 2011, increased 10.2 percent to a record $253 million from $229 million for the corresponding period for 2010. Analysts estimate income from continuing operations of $0.61 per share for the company. During the third quarter, the company completed the sale of Proveo AG, a discontinued operation. This sale generated a net gain of $10.81 million, or $0.20 per diluted share.
TW Telecom Inc. (Nasdaq: TWTC), a leading national provider of managed services, including business ethernet, converged and VPN solutions to enterprises across the U.S. and globally, today announced its third quarter 2011 financial results. Revenue for the quarter was $344.5 million, as compared with $338.4 million for the second quarter of 2011, an increase of $6.1 million, or 1.8 percent, representing the 28th consecutive quarter of sequential growth. The company recorded net income of $14.6 million for the quarter, compared with $16.1 million for the same period last year. Earnings per share were $0.10, compared with $0.09 per share in the previous year. Analysts had estimate a net profit of $0.10 per share for the company. The company ended the third quarter with approximately 27,400 customers. Customer churn was 1 percent for the current quarter, prior quarter and the same quarter last year. It maintained significant cash, equivalents and short term investments of $469.1 million, while returning $34.6 million to shareholders in the form of share repurchases.
HollyFrontier Corp. (NYSE: HFC), an independent petroleum refiner and marketer that produces high-value light products such as gasoline, diesel fuel, jet fuel and other specialty products, reported its FY 2011 Q3 financial results early today.