Boston, MA 03/26/2014 (wallstreetpr) – Sonic Corporation (NASDAQ:SONC) finished off 11% higher on Tuesday on back of solid second-quarter earnings. The fast-food chain reported earnings per share of $0.07 as against the estimate of $0.06 per share. However, its sales came in at $109.7 million, below 1.3% and against the market consensus of $110.9 million. The company showed an improvement of 1.4% in same-store sales, which is regarded as a key metric for evaluating performance. For the year 2014, Sonic Corporation (NASDAQ:SONC) has presented with a better outlook of EPS growth, which is expected to grow at the rate of 14-15%, marginally higher than the estimates. The same-store sales are expected to be in single-digits at the lower side for the year, according to the company.
P & F Industries, Inc. (NASDAQ:PFIN) reported its full year 2013 reports on Tuesday. The company’s revenue for the year came in at $76,066,000 as against $59,871,000 in the previous year. Moreover, the company’s income before taxes came in at $4,604,000, in comparison to $3,296,000 in 2012. The company posted a growth of 21.3% in its revenues to $15,398,000 during the period of three months ended December 31, 2013. During the same period, the company’s net income was $926,000 as against $479,000 in the previous year. The net income for the complete year stood at $3,225,000, which declined over the last year, due to P & F Industries, Inc. (NASDAQ:PFIN)’s policy of reducing the valuation allowance on certain tax assets in the third quarter of 2012. Hence, the earnings stood at $0.83 per share for the year.
Orthofix International NV (NASDAQ:OFIX) has disclosed information about allegations that are charged on its Brazilian subsidiary relating to improper payment to the U.S. authorities. The company mentioned that the information came under its notice in August, 2013, after which the company hired a legal aid from outside to investigate into the matter. The news comes on the backdrop of the recent $7 million settlement that Orthofix International NV (NASDAQ:OFIX) had paid out to clear up bribery allegations in Mexico.
