NEW YORK -- Michael Kors (KORS), the women's apparel maker, reported fourth-quarter net income Tuesday of $43.6 million, or 22 cents a share, up from year-earlier earnings of $17.4 million, or 10 cents a share.
Excluding a credit related to the company's initial public offering, Michael Kors had fourth-quarter net income of $41.6 million, or 21 cents a share.
Fourth-quarter revenue was $380 million.
Analysts, on average, expected Michael Kors to post fiscal fourth-quarter earnings of 16 cents a share on revenue of $360.9 million.The retailer also said it expects first-quarter earnings of between 18 cents a share and 20 cents a share, and full-year profit of between $1.08 and $1.12 a share. Analysts expect first-quarter profit of 17 cents a share and fiscal-year earnings of 98 cents a share. Michael Kors shares rose 12.62% in premarket trading Tuesday to $43.
Juniper Networks (JNPR), the networking equipment maker, announced a new $1 billion buyback authorization. Shares of Juniper Networks rose 2.13% in premarket trading Tuesday to $16.75. Facebook Haters: Sorry, but Your Revenge Ain't Coming
Chipmaker Texas Instruments (TXN) raised the low end of its second-quarter revenue and earnings estimates. Texas Instruments , the silicon specialist, forecast revenue of between $3.28 billion and $3.42 billion, compared with prior guidance of $3.22 billion to $3.48 billion. Analysts are expecting sales of $3.35 billion. The company said it now expects earnings of between 32 cents and 36 cents a share compared with a previous estimate of 30 cents to 38 cents. Analysts expect 41 cents a share.
Seagate Technology (STX), the hard drive maker, saw shares rise Monday after David Einhorn of Greenlight Capital disclosed ownership of more than 23 million shares, or a 5.4% stake, in the company. That's an increase from the 14.5 million shares, or 3.4% stake, that Einhorn disclosed as of March 31.
FactSet Research (FDS) reported third-quarter net income Tuesday of $48 million, or $1.05 a share, up from year-earlier earnings of $43.3 million, or 92 cents a share. On average, analysts anticipated third-quarter earnings of $1.04 a share. The company anticipates fourth-quarter non-GAAP earnings per share of between $1.15 and $1.17. Analysts, on average, forecast earnings of $1.08 a share. Houston: You Blew It on United Hub
Finisar (FNSR), the optical communications company, provided a weak outlook for its fiscal first quarter ending in July. The company said it sees a non-GAAP profit of 11 cents to 15 cents a share in the quarter on revenue of between $218 million to $233 million. The current average estimate of analysts calls for earnings of 24 cents a share on revenue of $250.4 million in the quarter. Shares of Finisar ticked up 13 cents, or 0.97%, to $13.60 in premarket trading Tuesday. 3 Ways JPMorgan Chase Needs to Come Clean: Analyst
-- Written by Joseph Woelfel
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