Here’s our round up of the most important earnings reported before the market opened this morning
SEI Investments Company (NYSE:SEIC) announced this morning an earnings per share of 28 cents in the first quarter. That’s down on the same period last year when the firm’s per share earnings were 31 cents. The company’s revenues slightly rose from lats year’s 232 million to 237 million. The wealth management company said in its report that it will spend 2012 building on its management businesss and increasing revenues.
Q2 Letter: Baupost won big in Q2 with PG&E, eBay, Liberty Global
Seth Klarman's Baupost recorded "strong" gains for the second quarter, although precise numbers were not included in the July 23 letter to investors, which was reviewed by ValueWalk. Klarman said that during the first quarter, they were "substantial purchasers of securities," while during the second, they were "significant net sellers" due to the strong rally. Read More
UBS (NYSE:UBS) posted a fall in profit in the first quarter. The firm earned SFr 827 million in the first three months of 2012. Last year in the same period the company earned SFr 1.8 billion. The company’s shares were still up on the results as the outlook given by the firm’s board showed a positive view of the rest of 2012. There still remain problems at the company however as it battles through a Eurozone crisis that may still get worse.
Garmin Ltd. (NASDAQ:GRMN), the navigation systems company, reported earnings of 44 cents per share own from 49 cents in the first quarter last year. Revenue was up $557 million from last year’s $508 million. Analysts had only thought the company would bring in $520 million in the quarter. The firm has benefited from an improved consumer economy in the United States in the early months of the year. The firm’s shares were up on the better than expected results today with shares trading up by over 3% at 48.95.
Franklin Electric Co. (NASDAQ:FELE) more than doubled its earnings from the first quarter last year to 96 cents per share. In the same three months last year the company earned just 45 cents per share. Revenues were up to $201.9 million shooting over last year’s $185.3 million. The firm saw good growth in it’s North American business particularly, according to the firm’s statement, in its water systems business. The company is still forecasting growth for the rest of the year despite weakening conditions in Europe’s economy.
The Clorox Company (NYSE:CLX) announces earnings per share of $1.02 for the first quarter of the new year level with earnings in the same period last year. The firm’s revenue was $1.4 billion up from last year’s $1.3 billion. The firm is looking forward to a solid year in its earnings while growing its sales figures for the year. The release sent the firm’s stock on a downward path today. At time of writing the stock was trading down nearly 5% to 66.76.