SEC Digest
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AutoZone, NeoGen, CarMax: Filings Digest September 23, 2014

In today’s SEC filings digest, AutoZone revenue and earnings rise, NeoGen revenue and earnings increase, and CarMax profit jumps 10%.

AutoZone revenue and earnings rise

AutoZone, Inc. (AZO) announced its financial results for the fourth quarter and full fiscal year 2014, posting increases in both revenue and earnings. The auto parts retailer posted quarterly adjusted net sales of $3.0B, up 4.5% from the year-ago $2.9B when factoring in the inclusion or exclusion of week 17. Adjusted net income rose from last year’s $347.7M and $9.76 per share to $373.7M and $11.28 per share. On an annual basis, net sales jumped from last year’s $8.9B to $9.5B, while adjusted net income rose from last year’s $993.1M and $27.15 per share to $1.1B and $31.57 per share. Chairman, President, and CEO Bill Rhodes commented that the company performed very strong over the year and is pleased with the continued growth.

NeoGen revenue and earnings increase

NeoGen Corp. (NEOG) announced its financial results for the first fiscal quarter of 2015, reporting increases for both revenue and earnings. The food and animal safety products maker saw revenue jump 15% from $58.6M to $67.6M, missing analyst predictions. Animal safety segment revenue jumped the most by 28%, thanks in part to some acquisitions, with the company’s agrigenomic segment up 16%, and food safety revenue up 3%. NeoGen earnings increased from $7.8M and $0.21 per share in the year-ago quarter to $8.9M and $0.24 per share, beating analyst expectations of $0.23 per share. The company’s gross margin tightened from 51.9% to 50.4% while operating margin fell from 21.2% to 19.9%.

CarMax profit jumps 10%

CarMax Inc. (KMX) announced its second quarter financial results for the fiscal year 2014, posting a 10% increase in profit from last year. Revenue jumped 11% from $3.25B to $3.60B, topping analyst estimates of $3.57B, with used car sales driving the increase. Used car sales rose 6.3% with comparable store used sales increasing 0.2% from a year ago. Net income increased from $140.3M and $0.62 per share to $154.5M and $0.70 per share, topping analyst $0.67 per share expectations. CarMax enjoyed a $0.06 per share boost in earnings thanks to a recently completed lawsuit settlement. CarMax President and CEO Tom Folliard is pleased with the company’s progress and the opening of new stores, three of which in new markets to the company.

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