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MarketPulse
THURSDAY, FEBRUARY 26, 2004
4:45PM Gap posts 43% leap in earnings (CORRECT) (GPS) by Jennifer Waters
CHICAGO (CBS.MW) -- Gap said late Thursday that fiscal fourth-quarter earnings per share surged 43 percent to $356 million, or 37 cents a share, from $249 million, or 27 cents a share, a year ago. The country's largest apparel maker said sales at full price and tighter inventories propelled a 5 percent gain in sales to $4.88 billion, compared with last year's $4.65 billion. Same-store sales at Gap's U.S. namesake stores climbed 2 percent, while sales rose 4 percent at Old Navy and came in 9 percent higher at Banana Republic. Shares of Gap (GPS) inched up 3 cents to $21.08 ahead of the results. (Corrects percentage change in profit.)
4:36PM Autodesk Q4 profit jumps 90% (ADSK) by David B. Wilkerson
SAN FRANCISCO (CBS.MW) -- Autodesk Inc. (ADSK) after the market closed Thursday reported better-than-expected fourth-quarter results and issued an outlook for the first quarter that exceeded most expectations. The San Rafael, Calif.-based software maker said net income in the fourth quarter was $58 million, or 48 cents a share, vs. $6 million, or 6 cents a share, in the year-earlier period. On a pro forma basis, excluding items, the company's profit was $53 million, or 45 cents a share, compared to $8 million, or 7 cents a share, in the year-ago period. Analysts polled by Thomson First Call were looking for a profit of just 29 cents a share. Revenue climbed 51 percent to $295 million, easily exceeding the $252.3 million First Call estimate. Autodesk said first-quarter net income should be between 12 cents and 17 cents a share, or 16 cents to 21 cents a share on a pro forma basis. The mean analyst estimate was 12 cents. Revenue is seen in a range of $240 million to $250 million, well ahead of the First Call forecast of $222.4 million. |
