Major Earnings Reports Today (MLHR, CWST, OMN, PRGS)
Notable Earnings (MLHR, CWST, OMN, PRGS)
Herman Miller, Inc. (NASDAQ:MLHR) stock fell 0.60% to $16.63 in the after hour trading after the company’s fourth-quarter earnings fell to $11.9 million, or $0.20 per share, from $17.1 million, or $0.30 per share, in the same period a year earlier. Excluding a restructuring charge, the company earned $0.28 per share. Sales fell 5% to $420.7 million. Analysts had expected fourth-quarter earnings of $0.30 per share on revenue of $426.9 million.
Looking forward the company expects first quarter of 2013 net sales to be in the range of $440 million to $460 million. Earnings per share in the period are expected to range between $0.37 and $0.41. Analysts are expecting the company to report revenues of $448 million and EPS of $0.40 for the first quarter of 2013.
Casella Waste Systems Inc. (NASDAQ:CWST) reported fourth quarter net loss of $49 million or $1.83 per share, as compared to net income of $48.8 million or $1.85 per share in the same quarter last year. Revenues for the quarter were $109.2 million, down $0.3 million from last year. Analysts expected a loss of $0.35 per share and revenue of $109.99 million for the quarter.
Looking forward, the company expects fiscal 2013 revenues between $482.0-$492.0 million and Adjusted EBITDA in between $104.0-$108.0 million.
OMNOVA Solutions Inc. (NYSE:OMN) reported a second-quarter profit of $7.0 million or $0.15 per share, versus $6.2 million or $0.14 per share in the prior-year quarter. Adjusted earnings from continuing operations were $7.3 million or $0.16 per share, as compared to $8.4 million or $0.18 per share in the same quarter last year. Revenues for the quarter decreased 1.7% to $307.5 million from $312.8 million last year, primarily due to lower volume and unfavorable currency translation.
Progress Software Corporation (NASDAQ:PRGS) shares climbed 0.50% to $20 in the after hour trading after the company posted a second-quarter net loss of $1.9 million or $0.03 per share, as compared to net income of $18.0 million or $0.26 per share in the same period last year. Adjusted net income for the quarter declined to $0.21 per share from $0.38 per share last year. Analysts expected earnings of $0.17 per share for the quarter.