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.
Kohl's Corp. (NYSE: KSS), which operates department stores in the U.S., reported its fiscal 2011 third quarter earnings today. During the quarter, Kohl's diluted earnings per share increased 40 percent to $0.80. Net income for the quarter increased 20 percent to $211 million, compared to $176 million, $0.57 per diluted share, a year ago. Analysts had expected EPS of $0.78 per share for the company. Net sales were $4.4 billion, an increase of 3.8 percent over the comparable prior year quarter. Comparable store sales for the quarter increased 2.1 percent. President and CEO Kevin Mansell said, "The launch of our Jennifer Lopez and Marc Anthony brands during the quarter met our aggressive sales plans. We expect our collection of powerful brands supported by significant marketing investments, especially in broadcast and digital media, to deliver a strong Holiday season."
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Viacom, Inc. (NYSE: VIA), the world's premier entertainment brands that connect with audiences through compelling content across television, motion picture, online and mobile platforms in more than 160 countries and territories, declared its FY 2011 Q4 earnings today. During the quarter, the company recorded 33 percent jump in its net earnings from continuing operations attributable to shareholders to $614 million, with adjusted diluted earnings per share from continuing operations of $1.06, up 41 percent over the prior year's quarterly results of $0.75. Analysts estimated adjusted diluted EPS of $1.04 for the company. Consolidated revenues in the fourth quarter increased 22 percent to $4.05 billion, driven by growth in both business segments. Fourth quarter adjusted operating income grew 27 percent to $1.06 billion, reflecting a significant increase in profitability in the filmed entertainment segment and double-digit growth in the media networks segment. Sumner M. Redstone, Executive Chairman of Viacom, said, "Viacom's performance in fiscal 2011 once again illustrates the value of our focused strategy and strong leadership. Viacom's powerful brands are enhanced by operational and financial discipline, which continues to drive our results and build value for shareholders."
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ArQule Inc. (Nasdaq: ARQL), a clinical-stage biotechnology company, which is engaged in the research and development of cancer therapeutics directed toward molecular targets and biological processes, reported its results for fiscal 2011 third quarter early today.