SEC Digest
Stay up to date on what's going on in the world of SEC Filings with our daily SEC Digest.

Wells Fargo, Citigroup, JPMorgan: Filings Digest October 14, 2014

In today’s SEC filings digest, Wells Fargo profit rises, Citigroup profit increases, and JPMorgan revenue and earnings rise.

Wells Fargo profit rises

Wells Fargo & Company (WFC) announced its financial results for the third quarter of fiscal year 2014, posting a rise in profit from a year-ago. The largest U.S. bank by market cap reported a 3.5% increase in revenue to $21.21B, beating analyst predictions of $21.08B. As the country’s largest home mortgage provider, its results can lead analysts to predict the state of the U.S. housing market. Net income rose from the year-ago $5.58B and $0.99 per share to $5.73B and $1.02 per share, meeting analyst expectations. Total loans increased 3.4% from last year to $838.9B while net interest margin, a key metric that measures the difference in what it earns on lending and what it pays depositors, tightened from 3.39% a year-ago to 3.06%.

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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.

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Red Hat, ConAgra, Oracle: Filings Digest September 19, 2014

In today’s SEC filings digest, Red Hat beats expectations, ConAgra profits rise, and Oracle misses expectations.

Red Hat beats expectations

Red Hat, Inc. (RHT) announced its financial results for the second quarter of the fiscal year 2014, posting results that topped analyst expectations. The Linux software creator saw revenue rise 19% from $374.4M to $446.0M, beating analyst estimates of $437M. The company attributes its continued success to overall market leadership and its portfolio of technology solutions. Earnings rose from the year-ago $41M and $0.21 per share to $47M and $0.25 per share, while adjusted earnings rose from $0.35 to $0.41, beating analyst $0.38 per share expectations. Red Hat also announced it has agreed to purchase FeedHenry, a private enterprise mobile application platform in a deal valued at 63.5M Euros, which is expected to close sometime during the third quarter of fiscal 2015.

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Rite Aid, IHS, Lennar: Filings Digest September 18, 2014

In today’s SEC filings digest, Rite Aid profits rise, IHS profits nearly double, and Lennar revenue and earnings rise.

Rite Aid profits rise

Rite Aid Corporation (RAD) announced its financial results for the second quarter of fiscal year 2015, posting a rise in profits from the year-ago quarter. The pharmacy retailer saw revenue increase 3.9% to $6.52B, a reflection of increased same-store sales and beating analyst predictions at $6.48B. Prescription sales, which account for 68% of overall store sales, continued to improve with a 3.7% increase in prescription count. Rite Aid earnings rose from the year-ago $32.8M and $0.03 per share to $127.8M and $0.13 per share, beating analyst $0.06 per share expectations. Due to the recent loss of exclusive rights to some generic drugs, the company is expecting lower generic drug profits as well as lower overall profits for the second half of the year. Rite Aid projects earnings per share to be between $0.22 and $0.33, down from the original guidance between $0.30 and $0.40 per share.

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Cracker Barrel, FedEx, General Mills: Filings Digest September 17, 2014

In today’s SEC filings digest, Cracker Barrel beats estimates, FedEx revenue and earnings rise, and General Mills profit declines.

Cracker Barrel beats estimates

Cracker Barrel Old Country Store, Inc. (CBRL) announced its financial results for the fourth fiscal quarter of 2014, reporting earnings that topped analyst expectations. The restaurant and retail store chain saw revenue rise 2.8% to $692.7M, beating analyst predictions of $686M. Same-store restaurant sales increased 1.2% and the average check increased 3.1%, a reflection of the 2.2% increase in average menu prices. The company’s earnings improved from the year-ago $34.3M and $1.43 per share to $39.2M and $1.63 per share, beating its estimated earnings range between $1.50 and $1.60 per share. CEO Sandra Cochran commented that the company outperformed its peers, despite the challenging environment. Cracker Barrel announced earlier in the year its plans to raise prices and cut expenses in order to compensate for weaker traffic and an increase in competition.

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FactSet Research, Alliance Distributors, Analogic: Filings Digest September 16, 2014

In today’s SEC filings digest, FactSet Research beats estimates, Alliance Distributors reports annual earnings, and Analogic revenues decline.

FactSet Research beats estimates

FactSet Research Systems Inc. (FDS) announced its financial results for the fourth quarter of fiscal year 2014, posting results that beat analyst estimates. The financial data company saw revenue rise 9% from $219.3M a year ago to $238.6M, beating analyst expectations at $236.9M. U.S. revenue, its largest segment, rose 6.5% to $161.2M, while international revenue grew 7.3% to $77.4M. Net income rose from the year-ago $51.0M and $1.16 per share to $55.4M and $1.31 per share, with adjusted earnings improving from $51.8M and $1.18 per share to $60.8M and $1.43 per share, beating analyst $1.30 predictions. Chairman and CEO Philip Hadley remarked that the company is incredibly pleased with its performance, as it posted one of its best quarters over the last decade.

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Napco, Microsoft, Heineken: Filings Digest September 15, 2014

In today’s SEC filings digest, Napco sales relatively flat, Microsoft purchases Minecraft, and Heineken turns down SABMiller’s offer.

Napco sales relatively flat

Napco Security Technologies, Inc. (NSSC) announced its financial results for the fourth quarter and full fiscal year 2014, reporting sales that were fairly flat on both a quarterly and annual basis. The high-tech electronic intrusion security company posted quarterly net sales of $21.5M, down slightly from $21.8M, with an improving gross margin to 38.5%, up from 38.1%. Quarterly earnings fell from $0.17 per share to $0.12 per share, with net income rising 25% to $4.0M. On an annual basis, the company’s net sales rose 4% from $71.4M to $74.4M. Net income for the year increased 15% to $3.5M and $0.18 per share, up from last year’s $3.0M and $0.16 per share. Chairman and President Richard Soloway remarked that the company worked hard during the year to position itself for long-term, sustained growth, and that the company performed great to improve its profitability.

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Ulta, Darden Restaurants, Sportsman’s Warehouse: Filings Digest September 12, 2014

In today’s SEC filings digest, Ulta revenue and earnings rise, Darden Restaurants posts net loss, and Sportsman’s Warehouse beats expectations.

Ulta revenue and earnings rise

Filing in Focus: Ulta 10-Q, September 11, 2014

Ulta Salon, Cosmetics & Fragrance, Inc. (ULTA) announced its financial results for the second quarter of fiscal year 2014, posting revenue and earnings that increased from a year ago. The beauty products retailer saw revenue rise from the year-ago $601.0M to $734.2M, with gross profit rising thanks to a proportionally lower cost of sales. Net income jumped from $44.9M and $0.70 per share to $60.8M and $0.94 per share. Ulta easily beat analyst expectations in both revenue and earnings, with predictions for revenue at $711.4M with $0.82 earnings per share. Ulta announced a $300M share repurchase program and also raised its annual guidance and expects total sales growth and earnings per share growth to be in the 20% range.

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Kroger, Lululemon, RadioShack: Filings Digest September 11, 2014

In today’s SEC filings digest, Kroger profits jump, Lululemon beats expectations, and RadioShack needs more money.

Kroger profits jump

The Kroger Co. (KR) announced its financial results for the second quarter of fiscal year 2014, posting profits that jumped from the year-ago quarter. The grocery chain posted revenues of $25.3B, an 11.6% jump from last year, beating analyst predictions of $24.9B. Earnings rose also, from $317M and $0.60 per share to $347M and $0.70 per share, once again beating analyst expectations at $0.69 per share. Kroger leadership believes consumers are becoming more confident in the economy and are now beginning to purchase items they have done without when the economy was more tumultuous. Kroger’s comparable-store sales grew 4.8%, outperforming its rivals like Wal-Mart and Safeway. Kroger is optimistic about its future and is excited about its near completion of the Harris Teeter acquisition while also announcing plans to hire 20,000 permanent employees for its portfolio of stores.

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Krispy Kreme, Lands’ End, Vera Bradley: Filings Digest September 10, 2014

In today’s SEC filings digest, Krispy Kreme earnings rise, Lands’ End profits increase, and Vera Bradley profits drop 49%.

Krispy Kreme earnings rise

Filing in Focus: Krispy Kreme 8-K, September 9, 2014

Krispy Kreme Doughnuts, Inc. (KKD) announced its financial results for the second fiscal quarter of 2014, posting a rise in earnings from a year ago. The doughnut retailer saw revenues increase by nearly 7% to $120.5M, beating analyst expectations of $118M. Domestic same-store sales rose 2.8% while international same-store sales fell 2.4%. Krispy Kreme earnings rose from the year-ago $4.7M and $0.07 per share to $5.8M and $0.08 per share while adjusted earnings fell from $0.14 to $0.13 per share, missing analyst predictions at $0.16 per share. Krispy Kreme has made several business partnerships this year, including grocery aisles in Wal-Mart (WMT) and a K-Cup agreement with Green Mountain Coffee Roasters (GMCR). CEO Tony Thompson commented that revenue in company-owned stores was a priority and the company did well as it seeks to improve traffic and sales.

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