Earnings Scan : InterOil Corporation & Hastings Entertainment
InterOil Corporation (USA)(NYSE:IOC) shares rose on Monday as the company swung to fourth quarter profit on increased revenue during the quarter.
The company posted profit of $13.2 million or $0.27 a share during the latest quarter, reversing a year ago loss of $34.83 million or $0.76 a share.
Revenue during the quarter grew to $289.61 million from $194.37 million in the same quarter last year.
For the full year, profit fell to $17.65 million, compared to a net loss of $44.52 million in the prior year.
The company said its operating segments of Corporate, Midstream Refining and Downstream collectively returned a net profit of $82.3 million for the year. Meanwhile, the development segments of Upstream and Midstream Liquefaction posted a net loss of $64.6 million.
Shares of IOC are up about 1% at $59.12, off session high of $61.00.
Hastings Entertainment, Inc. (NASDAQ:HAST) shares slumped as the company swung to fourth-quarter losses.
The company posted loss of $8.4 million, or $1.00 a share during the latest quarter, reversing a year ago profit of $3.8 million, or $0.43 a share.
Trends Comps increased 10.4% for fiscal 2011 due to increased sales of apparel and accessories, novelty items, new comics and graphic novels, action figures and collectible card games, such as Magic: The Gathering. Key drivers in the apparel and accessories category included hats, jewelry, licensed apparel, bags and footwear. Hardback Cafe Comps increased 4.8% during fiscal 2011 primarily due to increased sales of iced and blended specialty cafe drinks.
Electronics Comps increased 3.7% during fiscal 2011, primarily resulting from increased sales of headphones, along with strong sales of refurbished Apple iPads and tablet accessories, partially offset by lower sales of new Apple iPods. Music Comps decreased 4.5% for fiscal 2011, due to lower sales of new and used CDs. CD sales were impacted by a sales shift to lower priced promotional products.
Music units sold increased 1.3% during fiscal 2011. Book Comps decreased 4.8% during fiscal 2011 due to lower sales of new mass market books, hardbacks and trade paperbacks, lower sales of used hardbacks and trade paperbacks, and lower sales of magazines, partially offset by sales of the Nextbook Premium 7 e-reader tablet and related accessories.
Shares of HAST slumped 10% to $2.16.