Monday, August 31, 2015

Mixed bag of earnings results for local companies

Vishay and Checkpoint saw declines in customer demand last quarter, while AmerisourceBergen projects higher earnings for its current fiscal year.

Mixed bag of earnings results for local companies

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It's an earnings avalanche for local companies this Tuesday.

AmerisourceBergen eked out higher revenues and net income for its fourth quarter ended Sept. 30. Still with earnings per share of 54 cents for Q4, the company apparently missed analyst estimates of 56 cents, according to Bloomberg News.

For the year, the drug wholesaler had revenue of $80.2 billion -- almost oil company-like. Its net income for fiscal year 2011 was $706.6M, or $2.54 per share. The Valley Forge company also forecast FY2012 EPS to range from $2.74 to $2.84 on "flat to modest revenue growth."

Malvern-based Vishay Intertechnology noted "an unexpected drop in demand" from customers of its semiconductors and other electronic components. Revenues for the quarter ended Oct. 1 slipped to $637.6M, from $694.4M for Q3 2010. Net earnings fell to $50.7M, or 31 cents per share, from $90.2M, or 47 cents per share.

Philadelphia-based Checkpoint Systems, which announced a major restructuring effort in October, reported higher net revenues for its Q3 ended Sept. 25 and a net loss of $49.3M, or $1.21 per share. For the same quarter of 2010, the maker of anti-theft technology for retailers had net income of $7.1M, or 17 cents per share.

Entercom Communications, one of the nation's five biggest radio station owners, tuned in lower revenues and profits for its Q3. Net revenues for the Bala Cynywd company dipped 2 percent to $100.4M. Net income declined to $8.2M, or 22 cents per share, from $10.7M, or 29 cents per share, for the same quarter of 2010.

Also, check out FMC and Triumph Group, which reported strong results Monday evening.

Inquirer Columnist
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About this blog
Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980. Reach Mike at marmstrong@phillynews.com.

Mike Armstrong Inquirer Columnist
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