dividends paid
GOODYEAR TIRE & RUBBER CO. $12.02 (Nasdaq symbol GT; TSINetwork Rating: Extra Risk) (330-796-2122; www.goodyear.com; Shares outstanding: 245.5 million; Market cap: $3.0 billion; No dividends paid) is the world’s largest tire maker, with 52 plants in 22 countries.
In the quarter ended December 31, 2012, the weak global economy lowered Goodyear’s sales by 11.2%, to $5.05 billion from $5.68 billion a year earlier.
North American sales fell 10.4%, to $2.31 billion from $2.58 billion. As well, sales declined by 9.2% in Latin America; 16.2% in Europe, the Middle East and Africa; and 0.5% in Asia. Unfavourable foreign currency moves also lowered Goodyear’s revenue.
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In the quarter ended December 31, 2012, the weak global economy lowered Goodyear’s sales by 11.2%, to $5.05 billion from $5.68 billion a year earlier.
North American sales fell 10.4%, to $2.31 billion from $2.58 billion. As well, sales declined by 9.2% in Latin America; 16.2% in Europe, the Middle East and Africa; and 0.5% in Asia. Unfavourable foreign currency moves also lowered Goodyear’s revenue.
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ADOBE SYSTEMS $44.90 (Nasdaq symbol ADBE; TSINetwork Rating: Average) (408-536-6000; www.adobe.com; Shares outstanding: 495.1 million; Market cap: $22.2 billion; No dividends paid) reports that its earnings excluding one-time items fell 37.5% in its fiscal 2013 first quarter, which ended March 1, 2013, to $177.9 million, or $0.35 a share. A year earlier, it earned $284.5 million, or $0.57 a share. Revenue declined 3.6%, to $1.01 billion from $1.05 billion.
Adobe is doing a good job of selling its Creative Cloud package of photo-editing and desktoppublishing programs as a subscription service instead of a one-time purchase. The company added 153,000 Creative Cloud subscribers during the quarter, to bring its total to 479,000.
As a result, its subscription revenue jumped 53.4% from a year earlier and now accounts for 22% of its overall revenue. Adobe still gets 67% of its revenue from direct software sales. Services and support supply the remaining 11%.
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Adobe is doing a good job of selling its Creative Cloud package of photo-editing and desktoppublishing programs as a subscription service instead of a one-time purchase. The company added 153,000 Creative Cloud subscribers during the quarter, to bring its total to 479,000.
As a result, its subscription revenue jumped 53.4% from a year earlier and now accounts for 22% of its overall revenue. Adobe still gets 67% of its revenue from direct software sales. Services and support supply the remaining 11%.
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FIRSTSERVICE CORP. $33.92 (Toronto symbol FSV; TSINetwork Rating: Extra Risk) (416-960-9500; www.firstservice.com; Shares outstanding: 28.8 million; Market cap: $976.9 million; No dividends paid) serves the following areas of the real estate market: commercial real estate, residential property management and property improvement. FirstService has more than 23,000 employees worldwide.
In the three months ended December 31, 2012, the company’s revenue rose 6.3%, to $632.5 million from $594.9 million a year earlier (all figures except share prices in U.S. dollars). Excluding one-time items, earnings per share jumped 30.8%, to $0.68 from $0.52.
Revenue rose at two of FirstService’s three divisions: commercial real estate (up 23%) and residential property management (up 10%).
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In the three months ended December 31, 2012, the company’s revenue rose 6.3%, to $632.5 million from $594.9 million a year earlier (all figures except share prices in U.S. dollars). Excluding one-time items, earnings per share jumped 30.8%, to $0.68 from $0.52.
Revenue rose at two of FirstService’s three divisions: commercial real estate (up 23%) and residential property management (up 10%).
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BIRCHCLIFF ENERGY $7.96 (Toronto symbol BIR; TSINetwork Rating: Speculative) (403-261-6401; www.birchcliffenergy. com; Units outstanding: 141.8 million; Market cap: $1.1 billion; No dividends paid) produced an average of 26,655 barrels of oil equivalent a day (82% natural gas and 18% oil) in the quarter ended December 31, 2013. That was up 34.5% from 19,812 barrels a year earlier.
The production increase pushed up Birchcliff’s cash flow per share by 16.7%, to $0.28 from $0.24 a year earlier.
The stock trades at 7.1 times the company’s annual cash flow, based on the latest quarter.
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The production increase pushed up Birchcliff’s cash flow per share by 16.7%, to $0.28 from $0.24 a year earlier.
The stock trades at 7.1 times the company’s annual cash flow, based on the latest quarter.
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AEROPOSTALE INC. $12.76 (New York symbol ARO; TSINetwork Rating: Extra Risk) (646-485-5410; www.aeropostale.com; Shares outstanding: 78.3 million; Market cap: $999.1 million; No dividends paid) is a mall-based retailer of casual clothing and accessories. It now has 984 stores in the U.S., Canada and Puerto Rico that mainly target 14- to 17-year-old women and men. Aeropostale’s 103 P.S. from Aeropostale stores in the U.S. are aimed at seven- to 12-year-olds.
In the three months ended February 2, 2013, Aeropostale’s sales fell 1.3%, to $797.7 million from $808.4 million a year earlier. Same-store sales declined 8%, compared with a 7% decline a year ago.
Aeropostale’s earnings before one-time items fell 46.6%, to $19.0 million, or $0.24 a share, from $35.6 million, or $0.44 a share, a year earlier.
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In the three months ended February 2, 2013, Aeropostale’s sales fell 1.3%, to $797.7 million from $808.4 million a year earlier. Same-store sales declined 8%, compared with a 7% decline a year ago.
Aeropostale’s earnings before one-time items fell 46.6%, to $19.0 million, or $0.24 a share, from $35.6 million, or $0.44 a share, a year earlier.
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BELLATRIX EXPLORATION $5.93 (Toronto symbol BXE; TSINetwork Rating: Speculative) (403-266-8670; www.bellatrixexploration- .com; Shares outstanding: 107.9 million; Market cap: $639.8 million; No dividends paid) produces natural gas (70% of output) and oil (30%) in Alberta, B.C. and Saskatchewan.
In the three months ended December 31, 2012, Bellatrix’s production rose 32.1%, to 18,763 barrels of oil equivalent per day (including gas) from 14,209 a year earlier. Cash flow per share increased 7.1%, to $0.30 from $0.28.
Bellatrix continues to have considerable exploration success thanks to its expertise in horizontal drilling (or drilling down and “across” to oil and gas deposits) and fracturing, which involves pumping water, chemicals and other materials into rock to allow oil and gas to flow upward.
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In the three months ended December 31, 2012, Bellatrix’s production rose 32.1%, to 18,763 barrels of oil equivalent per day (including gas) from 14,209 a year earlier. Cash flow per share increased 7.1%, to $0.30 from $0.28.
Bellatrix continues to have considerable exploration success thanks to its expertise in horizontal drilling (or drilling down and “across” to oil and gas deposits) and fracturing, which involves pumping water, chemicals and other materials into rock to allow oil and gas to flow upward.
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SYMANTEC CORP. $24.54 (Nasdaq symbol SYMC; TSINetwork Rating: Average) (1-408-517-8000; www.symantec.com; Shares outstanding: 689.2 million; Market cap: $16.9 billion; No dividends paid) sells computersecurity technology, including anti-virus and email-filtering software, to businesses and consumers....
FAIR ISAAC CORP. $45.42 (New York symbol FICO; TSINetwork Rating: Average) (415-472-2211; www.fairisaac.com; Shares outstanding: 35.5 million; Market cap: $1.6 billion; Dividend yield: 0.2%) makes FICO Scores, the computer program that dominates the market for software that businesses use to evaluate customer creditworthiness....
ACI WORLDWIDE $47 (Nasdaq symbol ACIW; TSINetwork Rating: Speculative) (402- 334-5101; www.tsainc.com; Shares outstanding: 39.4 million; Market cap: $1.9 billion; No dividends paid) reported 66.0% higher revenue in the three months ended December 31, 2012, to $224.1 million from $135.0 million a year earlier....
AASTRA TECHNOLOGIES $19.79 (Toronto symbol AAH; TSINetwork Rating: Speculative) (905- 760-4200; www.aastra.com; Shares outstanding: 11.8 million; Market cap: $234.6 million; Dividend yield: 4.1%) reported revenue of $175.2 million in the three months ended December 31, 2012....