Tuesday's Winners & Losers: Korn/Ferry
Shares of Korn/Ferry International (KFY) were among the NYSE's winners Tuesday, rising 5% after the recruiting services company posted better-than-expected fourth-quarter results.
The company reported earnings of $20.3 million, or 45 cents a share, on total revenue of $152.9 million. The company posted fee revenue of $145.3 million. Excluding a one-time tax benefit, the company earned $13.8 million, or 31 cents a share. Analysts polled by Thomson First Call expected earnings of 29 cents a share on revenue of $141.3 million. During the year-earlier quarter, the company earned $11.7 million, or 27 cents a share, on total revenue of $131 million.
Looking ahead, Korn/Ferry sees first-quarter earnings, excluding stock-based compensation costs, of 28 cents to 33 cents a share. The company predicts fee revenue of $138 million to $145 million. Analysts project earnings of 29 cents a share on total revenue of $143.5 million. Shares were up 99 cents to $20.99 in recent trading.
Bob Evans Farms (BOBE) shares were recently trading up 3% after the restaurant operator posted fourth-quarter earnings that were better than expected. The company reported after Monday's close that it earned $20.5 million, or 56 cents a share, on sales of $397.3 million. Excluding items, the company earned $17.1 million, or 47 cents a share. Analysts expected earnings of 37 cents a share. During the year-earlier quarter, the company earned $5.5 million, or 16 cents a share, on sales of $382.6 million. Shares were recently trading up 88 cents to $28.72.Shares of School Specialty (SCHS) fell 4% after the educational products company posted disappointing fourth-quarter results. The company posted a loss of $32.6 million, or $1.42 a share, on revenue of $180.9 million. Excluding items, the company reported a loss of 71 cents a share. Analysts expected a smaller loss of 43 cents a share on revenue of $189.2 million. During the year-earlier period, the company posted a loss of $8.4 million, or 37 cents a share, on revenue of $175.2 million. "We are very disappointed with our results for fiscal 2006," Dave Vander Zanden, the company's CEO, said. "We have focused our efforts on growing revenue and reducing our expenses for fiscal 2007 and are optimistic about our performance for the coming year."
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