AngioDynamics (NASDAQ:ANGO), reported results for its fiscal year ended May 31. For the quarter, sales increased 13% and net income for the quarter grew to 12 cents per share, up from 2 cents in the same quarter last year. For the fiscal year, the company earned 41 cents. CEO Jan Keltjens said more work needs to be done to restore organic sales growth, and said the company will invest in developing its international business. The company gave guidance for fiscal 2010 of a 7 to 10 percent growth in net sales, and earnings of 43 to 47 cents per share. AngioDynamics trading lower Friday morning, down nearly 12%.
Marshall & Ilsley (MI), the largest Wisconsin-based bank, reported a second quarter net loss of 50 cents per share. Results included a loan loss provision of $468 million. CEO Mark Furlong said the quarter was a challenging one for the company, but says progress is being made toward a return to profitability. The loss for the quarter was lower than a loss of $1.52 in the same quarter last year. Shares fell nearly 10% in early trading Friday.
Shopping center owner Regency Centers (NYSE:REG) lowered its earnings guidance, sending shares down 10% Friday morning. For the year, guidance for Funds From Operations was lowered to a range of $2.76 per share, to $2.90 per share; that's down from prior guidance of $3.03 per share to $3.28 per share. For the second quarter, guidance for Funds From Operations was lowered to a range of 60 to 62 cents, down from prior guidance for a range of 74 to 79 cents per share.
Callaway Golf Company (NYSE:ELY) announced preliminary results for the second quarter. Net sales declined by an estimated $64 million or 17%, and earnings fell to an estimated 10 cents per share, down from 58 cents per share in the second quarter of 2008. CEO George Fellows blamed soft market conditions and a slower than anticipated recovery in consumer spending. Looking ahead to the second half, the company now no longer expects that earnings for the second half of the year will be higher than last year. Callaway shares down almost 9% in Friday morning trading.
Despite reporting record earnings for the second quarter, shares of liquid meters company Badger Meter (NYSE:BMI) were down about 9% in early trading Friday. Earnings rose over 8% from the same quarter last year, to 52 cents per share. Sales fell year over year, down just over 9%. The quarter's earnings were helped by favorable raw materials pricing including copper and other commodities.
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