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Supervalue (NYSE: SVU) $9.08. Today announced fourth quarter fiscal 2011 net sales of $8.7 billion and net earnings of $95 million, or $0.44 per diluted share. These results included charges related to previously announced store closures and employee-related costs ($47 million after-tax, or $0.22 per diluted share) and a non-cash intangible asset impairment charge ($18 million after-tax, or $0.09 per diluted share) which were offset by a gain on the sale of Total Logistic Control ($65 million after-tax, or $0.31 per diluted share).
In the fourth quarter of fiscal 2010, net sales were $9.2 billion and net earnings were $97 million, or $0.46 per diluted share. When adjusted for $34 million, or $0.16 per diluted share, in net after-tax charges related to the closure of non-strategic stores announced in fiscal 2009, charges for retail market exits in Connecticut and Cincinnati, and fees received from the early termination of a supply agreement, fourth quarter fiscal 2010 net earnings were $131 million, or $0.62 per diluted share.hese fees, supply chain services operating earnings last year were $77 million, or 3.8 percent of net sales. The decrease in supply chain operating earnings as a percentage of sales primarily resulted from a prior year LIFO benefit.
What They Do: Supervalue is one of the largest companies in the U.S. grocery channel with annual sales of approximately $38 billion. SUPERVALU serves customers across the United States through a network of approximately 4,294 stores composed of 1,114 traditional retail stores, including 805 in-store pharmacies; 1,280 hard-discount stores, of which 899 are operated by licensee owners; and 1,900 independent stores serviced primarily by the company’s traditional food distribution business.
Great Panther Silver (AMEX: GPL) $4.00. Today announced its first quarter, production at its two wholly-owned Mexican silver mining operations, Guanajuato and Topia.
The mines produced 410,640 ounces of silver, 2,310 ounces of gold, 241 tonnes of lead, and 345 tonnes of zinc. Compared to production results from Q1 2010, silver is up by 15%, gold is up by 45%, lead is down by 17% and zinc is unchanged. The combined metal production, at 607,225 silver equivalent ounces, ("Ag eq oz") is 7% higher than the last quarter and up 15% from Q1 2010. This is a very positive start to the year. Guanajuato metal production, at 406,419 Ag eq oz, is improved by 10% from the last quarter and is up 29% from a year ago while Topia silver production, at 137,219 Ag oz, is a quarterly record.
What They Do: Great Panther Silver Limited engages in the acquisition, exploration, development, and operation of mineral properties and mines in Mexico.
China Information Technology (Nasdaq: CNIT) $2.39. Today announced that its newly signed contracts in the first quarter of 2011 were valued at $36 million, an increase of 17.6% compared to the same period last year. The Company's first quarter contract wins came from 26 provinces and provincial cities in China. Some of the important contracts secured include:
$3 million contract for the Shuohuang Railway Geographic Information System; $1.3 million to supply police-use GIS and PDA equipment for the Shenzhen Traffic Police Mobile Law-enforcement System; $1.0 million to build a First Responder Coordination System for the Anxi City; $1.0 million to install a police-use GIS platform in Jiaozuo and Hebi City of Henan Province, under China's National PGIS Standardization Project; and $0.6 million to construct a digital hospital information systems platform for the Shenzhen Futian Second People's Hospital.