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Earnings Scope for the week of 04-21-14

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Earnings Scope for the week of 04-21-14

We went 0-for-2 in terms of earnings predictions last week, which led to a huge loss of 13% in the stocks. This brought the annual return for The Earnings Scope in 2014 down to 89%. This was our second straight week of disastrous results.

We relayed that Universal Forest Products (UFPI) had clobbered earnings estimates three quarters in a row due to higher lumber prices and a rise in new home construction. We did not think that trend would end abruptly this quarter. We were dead wrong. Sales were flat YoY at $554 million, which was about $20 million less than we were expecting. Net earnings did improve 38% to $7.2 million, or $0.36 per share, but this was far short of estimates for $0.43 per share. The stock lost 3% after the report.

We said that Knoll Corp. (KNL) would miss estimates for the third quarter in a row. We were dead wrong. Sales increased 14% YoY to $229 million, and net income soared 34% to $8.2 million, or $0.17 per share, which clobbered estimates for $0.12 per share. The stock rose 10% after the report.

The following companies are expected to report earnings the week of 4-21-2014:

  • (FWRD) Forward Air
  • (MDSO) Medidata Solutions
  • (SMCI) Super Micro Computer
  • (BABY) Natus Medical

 

 

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