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CarMax, Inc. (NYSE: KMX) $12.46. Today announced results for the fourth quarter and fiscal year ended February 28, 2009. Total sales decreased 28% to $1.47 billion from $2.04 billion in the fourth quarter of fiscal 2008. For the fiscal year, total sales decreased 15% to $6.97 billion from $8.20 billion in fiscal 2008.
Comparable store used unit sales declined 26% for the fourth quarter and 16% for the fiscal year. Total used unit sales decreased 21% in the fourth quarter and 8% for the fiscal year. For the fourth quarter, the company reported net earnings of $37.5 million, or $0.17 per share, in fiscal 2009 compared with $21.8 million, or $0.10 per share, in fiscal 2008.
What They Do: CarMax, a Fortune 500 company, and one of the Fortune 2009 “100 Best Companies to Work For,” is the nation’s largest retailer of used cars. Headquartered in Richmond, Va., the Company currently operates 100 used car superstores in 46 markets.
MSC Industrial Direct (NYSE: MSM) $32.13. Today announced financial results for its fiscal 2009 second quarter ended February 28, 2009. For the fiscal 2009 second quarter, net sales were $351.9 million, compared with $436.5 million in the second quarter of fiscal 2008. Fiscal 2009 second quarter operating income was $43.2 million, or 12.3% of net sales, compared with $78.6 million, or 18.0% of net sales, in the prior year period.
Net income for the fiscal 2009 second quarter was $26.3 million, compared with net income of $47.5 million in the second quarter of fiscal 2008. Diluted earnings per share in the fiscal 2009 second quarter were $0.42 (based on 62.5 million diluted shares outstanding), compared to $0.73 (based on 65.2 million diluted shares outstanding) in the second quarter of fiscal 2008.
What They Do: MSC Industrial Direct Co., Inc. is one of the premier distributors of Metalworking and Maintenance, Repair and Operations (“MRO”) supplies to industrial customers throughout the United States. MSC distributes approximately 590,000 industrial products from approximately 3,000 suppliers to approximately 357,000 customers. In-stock availability is approximately 99%, with next day standard delivery to the contiguous United States.
The Dow Chemical Company (NYSE: DOW) $8.81. Today announced that Rohm and Haas, a wholly owned subsidiary of The Dow Chemical Company, has entered into a definitive agreement to sell the stock of Morton International, Inc., the salt business of Rohm and Haas, to K+S Aktiengesellschaft. K+S is one of the world's leading suppliers of specialty and standard fertilizers, plant care and salt products, and a German DAX 30 Company.
What They Do: With annual sales of $58 billion and 46,000 employees worldwide, Dow is a diversified chemical company that combines the power of science and technology with the "Human Element" to constantly improve what is essential to human progress.
Micromet, Inc. (Nasdaq: MITI) $3.07. Today announced the filing of the first clinical trial application (CTA) in Europe by its partner Nycomed for the anti-GM-CSF antibody MT203. Micromet received a payment of 1.5 million Euro (US$ 2.0 million) from Nycomed for the achievement of this milestone.
Under a 2007 agreement between the two companies, Micromet and Nycomed are developing MT203, a human anti-GM-CSF antibody that may be useful for the treatment of various inflammatory and autoimmune diseases. Preclinical studies support development of MT203 for the treatment of rheumatoid arthritis and several other diseases, including multiple sclerosis, psoriasis, asthma and chronic obstructive pulmonary disease.
What They Do: Micromet, Inc.is a biopharmaceutical company with offices in Bethesda, MD and Munich, Germany. The Company is focused on developing novel, proprietary antibodies for the treatment of cancer, inflammation and autoimmune diseases.
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