Services Sector Announced Earnings Results, Acquisitions and Upcoming Conference Schedules and Events - Research Report on Conn's, Avnet, Cabela's, Arrow Electronics, and Life Time Fitness
NEW YORK, September 12, 2013 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Today, Analysts' Corner announced new research reports highlighting Conn's Inc. (NASDAQ: CONN), Avnet Inc. (NYSE: AVT), Cabela's Inc. (NYSE: CAB), Arrow Electronics, Inc. (NYSE: ARW), and Life Time Fitness Inc. (NYSE: LTM). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.
Conn's Inc. Research Report
On September 5, 2013, Conn's Inc. (Conn's) reported its financial results for Q2 FY 2014 (period ended July 31, 2013). Total Revenues increased 30.5% YoY to $270.7 million. During the quarter, sales in all product categories increased by 30.4% YoY to $203.5 million, driven by the growth in same store sales and new store openings. Net income was $19.2 million or $0.52 per diluted share, compared to net income of $11.6 million or $0.35 per diluted share in Q2 FY 2013. Chairman and CEO Theodore M. Wright said, "Phoenix market store openings have been successful with three stores now open." Wright added, "We plan to open four more Phoenix area locations over the next several quarters. The performance of our credit segment for the second quarter was below our expectations due to short-term execution issues in our collection operations. Corrective actions were taken and negative delinquency trends rapidly reversed." Wright continued, "At August 31, early stage delinquency was below the levels experienced at the end of each of the past nine quarters. We expect further improvement in overall delinquency rates over the next several months." Conn's also reaffirmed its guidance for full-year FY 2014 and expects adjusted diluted EPS to be within $2.50 to $2.65. The Full Research Report on Conn's Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/3f20_CONN]
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Avnet Inc. Research Report
On September 9, 2013, Avnet Inc. (Avnet) announced that the Company was selected for the 2013 InformationWeek 500 - a list of the top technology innovators in the US. According to the Company, it received this prestigious award for a new order quoting system that was developed for its electronic components business in the Americas, Avnet Electronics Marketing. Avnet informed that this system uses custom-developed software, network optimization and in-memory computing, enabling the sales team to increase their responsiveness to customers. Steve Phillips, Senior Vice President and CIO, Avnet, said, "Avnet's new quoting system is an example of the role advanced IT tools can play in positively changing the way we support our customers. This InformationWeek honor underscores Avnet's commitment to using technology to further improve customer service." The Full Research Report on Avnet Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/5ed7_AVT]
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Cabela's Inc. Research Report
On September 5, 2013, Cabela's Inc. (Cabela's) announced that its management team will participate in the Imperial Capital 7th Annual Global Opportunities Conference at the Waldorf Astoria in New York, on September 19, 2013. According to the Company, the management will present at 10:00 a.m. ET and live webcast of the presentation and archive of the same can be accessed through the Cabela's Investor Relations website. The Full Research Report on Cabela's Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/8aa5_CAB]
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Arrow Electronics, Inc. Research Report
On August 27, 2013, Arrow Electronics, Inc. (Arrow Electronics) announced that the Company has signed a definitive agreement to acquire Computerlinks - a value-added distributor with a comprehensive offering of IT solutions from the world's leading technology suppliers. According to the Company, Computerlinks is based in Munich, Germany and has operations in Europe, North America, the Middle East and Asia. Arrow Electronics informed that sales in 2013 are estimated to be c.€700 million ($950 million in accordance with US GAAP) and the said acquisition is expected to increase EPS, excluding the impact of the amortization of related intangible assets, by $0.20 to $0.24 in the first year post closing. According to the Company, the acquisition has a purchase price of approximately €230 million ($300 million), subject to regulatory approvals, and the transaction is expected to close in Q4 2013. Chairman, President and CEO Michael J. Long said, "This acquisition supports our strategy to serve the data center of the future and strengthens our position in this rapidly growing segment." The Full Research Report on Arrow Electronics, Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/3fc6_ARW]
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Life Time Fitness Inc. Research Report
On September 5, 2013, Life Time Fitness Inc. (Life Time Fitness) announced that the LeadmanTri Bend race will be back to Bend, Oregon on September 21, 2013. Life Time Fitness informed that the new course provides improved experience to the participants, while showcasing the amazing scenery of Bend, Oregon. The Company added that the changes include a new finishing line in the NorthWest Crossing neighborhood, a run course that takes place almost entirely on paved trails and ample spectator views. According to the Company, the Epic 250 will begin at 7:30 a.m. while the Epic 125 will commence at 8:00 a.m. at the Bend, Oregon starting at the Cultus Lake and ending at the NorthWest Crossing. The Full Research Report on Life Time Fitness Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/15bb_LTM]
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