NEWS
By Andrea K. Walker | January 29, 2009
Spice maker McCormick & Co. said yesterday that fourth-quarter earnings fell because of a write-down on a Dutch company it owns and that it expects a challenging year because of unfavorable exchange rates. The Sparks-based company reported net income of $82.5 million, or 62 cents a share, compared with $87.6 million, or 67 cents a share, for the quarter ended Nov. 30. The company said acquisitions, product innovation and increased marketing have helped it weather a weak global economy.
NEWS
November 6, 2008
FTI reports 20 percent increase in earnings Baltimore-based FTI Consulting Inc., a business advisory firm best known for helping struggling companies reorganize, said yesterday that its third-quarter earnings increased 20 percent, but it was delaying a public offering of its technology division because of market conditions. Net income was $27.5 million, or 51 cents per share, for the quarter ended Sept. 30. That compared with $23 million, or 50 cents per share, in the corresponding period a year ago. Revenue increased 29 percent to $325.
NEWS
September 26, 2008
Third-quarter earnings up 21% at McCormick Spicemaker McCormick & Co. said yesterday that third-quarter earnings per share increased 21 percent as the company raised prices and saw a small benefit from the sale of its Season-All business. The Sparks-based company reported net income of $68.6 million, or 52 cents per share, for the quarter ended Aug. 31. That was compared with $56.8 million, or 44 cents per share, for the corresponding period a year ago. Sales were $781.6 million, compared with $716.
NEWS
By Andrea K. Walker | January 18, 2008
Under Armour Inc. shares plummeted yesterday to less than half of the high they hit last summer, as investors showed concern about the company's decision to sacrifice earnings in the first half of this year to spend heavily on advertising. The shares begin falling - to finally close at $37.06, down $5.79, in regular trading - after Wachovia Securities analysts reported that the Baltimore athletic apparel company will front-load its 2008 ad spending by, among other things, running a 60-second commercial during the Super Bowl on Feb. 3. Under Armour confirmed the report after the markets closed, adding that earnings for the first half of 2008 would probably be only 3 to 5 cents a share because of the unbalanced ad spending.
NEWS
By Andrea K. Walker | April 18, 2007
Jos. A. Bank reported strong earnings yesterday as healthy sportswear sales helped offset a weak demand for suits across the industry. The Hampstead-based company reported a 34 percent increase in fourth-quarter net income, to $24.8 million from $18.5 million in the comparable period last year. Earnings per share were $1.36, beating analysts' projections of $1.25. Net income for the fiscal year, which ended Feb. 3, increased 21 percent, to $43.2 million from $35.3 million for the previous year.
NEWS
By Allison Connolly | March 13, 2007
The slowdown in the housing market that cast a pall over power tools sales last year was reflected in the paychecks for executives at Towson-based Black & Decker Corp. According to a Black & Decker filing with the Securities and Exchange Commission yesterday, Chairman, President and Chief Executive Officer Nolan D. Archibald and several other top executives did not receive bonuses in 2006. The company filing put Archibald's total compensation, including his base salary of $1.5 million, at $10.3 million last year, compared with $11.8 million in 2005.
NEWS
By Gail MarksJarvis | December 24, 2006
When corporate earnings have been climbing at a double-digit rate for a historic 18 quarters in a row and are projected to climb at close to 10 percent in the next year, it's tough to sing the blues. And most of Wall Street is not. The consensus for the next year is that corporate profit growth will slow but continue to climb, along with a slower-growing, but still sound, economy. Yet, as profit growth projections cool to 9.7 percent in 2007 from about 15 percent this year, some strategists are warning investors to be careful about expecting too much from the stock market.
NEWS
By Allison Connolly | December 16, 2006
Black & Decker Corp. executives acknowledged yesterday that the housing slowdown is having more impact on sales than they previously thought, and that earnings will be affected into 2007. While officials of the Towson company have insisted that less than 20 percent of sales are tied to home building, chief executive Nolan D. Archibald said yesterday that economic conditions have caused key retailers to order fewer power tools and accessories. "We expected an organic sales decline, but not the magnitude that we've experienced," Archibald told analysts during a conference call yesterday.
NEWS
By Andrew Leckey | December 3, 2006
What does the future hold for my CVS Corp. shares? - K.T., via the Internet The future looks bright in a rapidly consolidating drugstore industry in which it is a leader. But it is a fiercely competitive field. CVS, with more than 6,000 stores, has yet to match the profitability per store of traditional rival Walgreen Co. It is actively replacing many stores within strip malls with more profitable free- standing corner locations to try to narrow that profitability gap. Meanwhile, discount retailer Wal-Mart Stores Inc. recently rolled out a plan offering many generic drugs for $4 a prescription.
NEWS
By MCCLATCHY-TRIBUNE | August 22, 2006
DALLAS -- U.S. corporations are slurping up their own shares like it's feeding time on a pig farm. Companies in the S&P 500 spent $349 billion repurchasing their shares last year, compared with $197 billion in 2004, and that figure is expected to move even higher this year. Amid the stock market's meanderings, those buybacks have provided a source of optimism. Anytime big investors are buying - even if it's companies repurchasing their own shares - that's good news for the market. But some analysts question whether buybacks are good for the companies that undertake them, particularly in the long run. For example, the companies may be tempted to use the shares for acquisitions, and companies that go on corporate shopping sprees often wind up with buyer's remorse.