<TABLE cellSpacing=0 cellPadding=2 width="100%" bgColor=white border=0 xmlns:msxsl="urn:schemas-microsoft-com:xslt" xmlns:js="http://cbs.markewatch.com/xsl"><TBODY><TR><TD width="100%">Dell Inc. (DELL: news, chart, profile) said its first-quarter net income rose 28% as the world's No. 1 personal-computer company posted strong sales growth in Europe and Asia and ran its operations more efficiently.
Dell earned $934 million, or 37 cents a share, for the three months ended April 29, compared to $731 million, or 28 cents, a year ago.
Revenue rose 16% to $13.4 billion from $11.5 billion. Dell's sales and profits were in line with the average estimate of analysts surveyed by Thomson First Call. See full story.
Kohl's Corp. (KSS: news, chart, profile) said it earned $124.7 million, or 36 cents a share in the first quarter, ahead of the $103.1 million, or 30 cents a share a year ago.
Sales came in at $2.7 billion, up from $2.4 billion while same-store sales grew 3.7 percent. Looking ahead, Kohl's said it continues to target full year EPS of between $2.40 and $2.50, vs. analyst views of $2.45. Shares of Kohl's (KSS) ended down 28 cents at $49.36. See full story.
Pacific Sunwear of California Inc. (PSUN: news, chart, profile) said that first-quarter profit rose 18% to $17.6 million, or 23 cents a share, from $15 million, or 19 cents, in the year-earlier period.
Earnings matched analysts' average estimate, according to Thomson First Call. Sales for the three months ended April 30 climbed 14% to $280 million from $245.5 million in last year's first-quarter.
Same-store sales, or sales generated at stores open at least a year, gained 3%, the Anaheim, Calif.-based apparel retailer said.
Friday's watch
Cephalon Inc. (CEPH: news, chart, profile) said that it will acquire Salmedix Inc. for $160 million in cash. The deal is expected to close in the second quarter. Cephalon said that it expects the transaction to dilute 2005 earnings by 10 cents to 15 cents a share.
Guitar Center Inc. (GTRC: news, chart, profile) forecast second-quarter earnings of 39 cents to 44 cents a share, including one-time charges of $3.4 million to $3.6 million, or about 7 cents a share, on sales of $395.7 million to $406.4 million. The charges are related to its recently completed acquisition of Music and Arts Center, said the company. Analysts surveyed by Thomson First Call are expecting the company to report second-quarter earnings of 51 cents a share on revenue of $389 million. The Westlake Village, Calif.-based guitar and recording equipment retailer forecast 2005 earnings of $2.59 to $2.74 a share on sales of $1.77 billion to $1.81 billion. The 2005 earnings forecast also includes acquisition-related charges of $3.6 million to $3.9 million, or about 8 cents a share. Analysts expect 2005 earnings of $2.70 a share on revenue of $1.73 billion.
On Thursday, Krispy Kreme Doughnuts Inc. (KKD: news, chart, profile) posted on its Web site a target date for releasing its overdue financial reports, only to remove the information later. According to report on Dow Jones Newswires, Krispy Kreme said it was looking to release its first-quarter numbers on Aug. 30, but then pulled it off the Web site without explanation. See full story.
Nvidia Corp. (NVDA: news, chart, profile) reported a first-quarter net income of $64.4 million, or 36 cents a share, compared with $21.3 million, 94 12 cents a share a year ago. Revenue rose 24% to $583.8 million.
The Pep Boys (PBY: news, chart, profile) reported a first-quarter loss from continuing operations of $2.39 million, or 4 cents a share. In the same period a year earlier, the automotive parts company posted earnings from continuing operations of $15.1 million, or 25 cents a share. Revenue slipped to $564.2 million from $566.1 million. Comparable merchandise sales rose 0.7% while comparable service revenue fell 4.6%, Pep Boys said.
Target Corp. (TGT: news, chart, profile) said it made $494 million, or 55 cents a share, compared with last year's $432 million, or 47 cents a share.
Analysts polled by Thomson First Call were looking for earnings, on average, of 53 cents a share. For the quarter that ended April 30, Target rang up sales of $11.17 billion, 13% ahead of last year's sales of $9.91 billion. Total revenue also advanced 13%, to $11.48 billion from $10.18 billion a year ago. See full story.
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Jennifer Inez Ward is a reporter for MarketWatch in San Francisco.
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Dell earned $934 million, or 37 cents a share, for the three months ended April 29, compared to $731 million, or 28 cents, a year ago.
Revenue rose 16% to $13.4 billion from $11.5 billion. Dell's sales and profits were in line with the average estimate of analysts surveyed by Thomson First Call. See full story.
Kohl's Corp. (KSS: news, chart, profile) said it earned $124.7 million, or 36 cents a share in the first quarter, ahead of the $103.1 million, or 30 cents a share a year ago.
Sales came in at $2.7 billion, up from $2.4 billion while same-store sales grew 3.7 percent. Looking ahead, Kohl's said it continues to target full year EPS of between $2.40 and $2.50, vs. analyst views of $2.45. Shares of Kohl's (KSS) ended down 28 cents at $49.36. See full story.
Pacific Sunwear of California Inc. (PSUN: news, chart, profile) said that first-quarter profit rose 18% to $17.6 million, or 23 cents a share, from $15 million, or 19 cents, in the year-earlier period.
Earnings matched analysts' average estimate, according to Thomson First Call. Sales for the three months ended April 30 climbed 14% to $280 million from $245.5 million in last year's first-quarter.
Same-store sales, or sales generated at stores open at least a year, gained 3%, the Anaheim, Calif.-based apparel retailer said.
Friday's watch
Cephalon Inc. (CEPH: news, chart, profile) said that it will acquire Salmedix Inc. for $160 million in cash. The deal is expected to close in the second quarter. Cephalon said that it expects the transaction to dilute 2005 earnings by 10 cents to 15 cents a share.
Guitar Center Inc. (GTRC: news, chart, profile) forecast second-quarter earnings of 39 cents to 44 cents a share, including one-time charges of $3.4 million to $3.6 million, or about 7 cents a share, on sales of $395.7 million to $406.4 million. The charges are related to its recently completed acquisition of Music and Arts Center, said the company. Analysts surveyed by Thomson First Call are expecting the company to report second-quarter earnings of 51 cents a share on revenue of $389 million. The Westlake Village, Calif.-based guitar and recording equipment retailer forecast 2005 earnings of $2.59 to $2.74 a share on sales of $1.77 billion to $1.81 billion. The 2005 earnings forecast also includes acquisition-related charges of $3.6 million to $3.9 million, or about 8 cents a share. Analysts expect 2005 earnings of $2.70 a share on revenue of $1.73 billion.
On Thursday, Krispy Kreme Doughnuts Inc. (KKD: news, chart, profile) posted on its Web site a target date for releasing its overdue financial reports, only to remove the information later. According to report on Dow Jones Newswires, Krispy Kreme said it was looking to release its first-quarter numbers on Aug. 30, but then pulled it off the Web site without explanation. See full story.
Nvidia Corp. (NVDA: news, chart, profile) reported a first-quarter net income of $64.4 million, or 36 cents a share, compared with $21.3 million, 94 12 cents a share a year ago. Revenue rose 24% to $583.8 million.
The Pep Boys (PBY: news, chart, profile) reported a first-quarter loss from continuing operations of $2.39 million, or 4 cents a share. In the same period a year earlier, the automotive parts company posted earnings from continuing operations of $15.1 million, or 25 cents a share. Revenue slipped to $564.2 million from $566.1 million. Comparable merchandise sales rose 0.7% while comparable service revenue fell 4.6%, Pep Boys said.
Target Corp. (TGT: news, chart, profile) said it made $494 million, or 55 cents a share, compared with last year's $432 million, or 47 cents a share.
Analysts polled by Thomson First Call were looking for earnings, on average, of 53 cents a share. For the quarter that ended April 30, Target rang up sales of $11.17 billion, 13% ahead of last year's sales of $9.91 billion. Total revenue also advanced 13%, to $11.48 billion from $10.18 billion a year ago. See full story.
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Jennifer Inez Ward is a reporter for MarketWatch in San Francisco.
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