Additional Tuesday earnings reports

Posted Jan 8th 2008 7:26PM by Trey Thoelcke
Filed under: Earnings Reports, Family Dollar Stores (FDO)

Other companies reporting quarterly results on Tuesday included the following:

Constellation Brands Inc. (NYSE: STZ): Third-quarter profit rose 11 percent, lifted by strong liquor sales, a growth in North American wine business, and acquisition of Svedka vodka. Profit for the quarter ended November 30 rose to $119.6 million, or 55 cents a share, from $107.8 million, or 45 cents a share, a year earlier. Analysts polled by Thomson Financial had expected 55 cents per share on revenue of $1.04 billion. However, Constellation lowered its full-year profit outlook, in part due to costs from its recent acquisition of Fortune Brands Inc.

Acuity Brands Inc. (NYSE: AYI): Fiscal 2008 first-quarter earnings fell 7 percent, as a restructuring charge offset higher pricing and increased sales. The company earned $31.1 million, or 72 cents per share, compared with $33.6 million, or 77 cents per share, in the same quarter a year ago. Analysts had expected profit of 82 cents per share on revenue of $500.6 million, according to analysts polled by Thomson Financial. Revenue increased 7% to $508.9 million, from $477.6 million a year ago. The special charge was related to planned actions to streamline operations as a result of the spin-off of Zep Inc.

Family Dollar Stores Inc. (NYSE: FDO): Fiscal 2008 first-quarter profits fell 4% as consumers cut back on discretionary spending; same-store sales fell 1%. Net income for the quarter ending December 1 was $51.9 million, or 37 cents per share, as compared to a profit of $54.1 million, or 36 cents per share in the year ago quarter. Revenue rose 5% to $1.68 billion, from $1.6 billion a year ago. Analysts polled by Thomson Financial had expected a profit of 37 cents per share on revenue of $1.69 billion.

Great Atlantic & Pacific Tea Co. (NYSE: GAP): Third-quarter profit for the parent company of A&P supermarkets climbed 41%, helped by the sale of the Metro Inc. supermarket chain. For the period ended December 1, net income rose to $57.3 million, or $1.35 per share, compared with $40.7 million, or 97 cents per share, in the prior year. Revenue grew 3% to $1.25 billion from $1.21 billion a year ago. Analysts surveyed by Thomson Financial had predicted a loss of 48 cents per share on sales of $1.32 billion. Same-store sales grew 3.1% in the quarter.

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Tags: A and P, Acuity Brands, AYI, Constellation Brands, earnings reports, Family Dollar, FDO, Fortune Brands, Great Atlantic, Metro Inc., STZ, Svedka, Zep Inc.