Duck Creek Technologies Q3 Revenue Outlook Below Estimates, Stock Down 14%

Shares of software company Duck Creek Technologies, Inc. (DCT) are down 14 percent on Thursday’s after-market trading after the company guided its third-quarter revenue outlook below the Street estimates.

For the third quarter, the company expects revenue between $71.0 million and $73.0 million, while 11 analysts currently expect revenues of $76.1 million for the period.

In the second quarter, the company posted narrower loss of $0.9 million or $0.01 per share, compared to net loss of $6.4 million or $0.05 per share for the comparable period last year.

Excluding items, income was $5.0 million or $0.04 per share for the second quarter, higher than $2.0 million or $0.01 per share a year ago. Revenues rose 22 percent to $76.4 million from $62.7 million last year.

On average, 11 analysts polled by Thomson Reuters expected the company to post earnings of $0.01 per share on revenues of $72.8 million in the second quarter.

The stock ended Thursday’s trade at $22.12, down $0.36 or 1.56 percent. In after-market, DCT is down $3.19 or 14 percent to $18.93.

51job Inc. Announces Climb In Q4 Income

51job Inc. (JOBS) released a profit for its fourth quarter that increased from last year

The company’s bottom line came in at RMB350.88 million, or RMB5.23 per share. This compares with RMB331.80 million, or RMB5.01 per share, in last year’s fourth quarter.

Excluding items, 51job Inc. reported adjusted earnings of RMB406.67 million or RMB5.99 per share for the period.

The company’s revenue for the quarter rose 16.4% to RMB1.35 billion from RMB1.16 billion last year.

51job Inc. earnings at a glance (GAAP) :

-Earnings (Q4): RMB350.88 Mln. vs. RMB331.80 Mln. last year.
-EPS (Q4): RMB5.23 vs. RMB5.01 last year.
-Revenue (Q4): RMB1.35 Bln vs. RMB1.16 Bln last year.

US Treasury yield curve inverts again

FOX Business Flash top headlines for March 31

Here are your FOX Business Flash top headlines for March 31.

A key part of the U.S. yield curve inverted on Friday morning in Asia, the second time in a few hours, according to Tradeweb data, as the two-year U.S. Treasury note yield rose above the benchmark 10-year yield.

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That part of the yield curve inverted on Tuesday for the first time since September 2019. It inverted again late in U.S. trade on Thursday.

An inversion of the two-year, 10-year part of the curve is viewed by many as a signal a recession is likely to follow in one to two years.

(Reporting by Noel Randewich and Alun John; Editing by Chris Reese & Shri Navaratnam)

Sanne Group Slips To Pre-tax Loss In FY21; Sees Strong Financial Performance In FY22

Alternative asset and corporate services provider Sanne Group plc (SNN.L), which is in deal to be bought by Apex, reported Friday fiscal 2021 loss before tax of 2.2 million pounds, compared to profit of 20.5 million pounds last year.

Loss per share was 4.4 pence, compared to profit of 11.1 pence a year ago.

Underlying profit before tax was 50.6 million pounds, compared to 44.9 million pounds last year. Underlying earnings per share were 26.6 pence, compared to 25.4 pence a year ago.

Turnover grew 16.5 percent to 203.7 million pounds from 174.9 million pounds last year. Turnover grew 21.1 percent at constant currency rates.

Underlying net revenue was 194.2 million pounds, up 14.4 percent.

Looking ahead, the company noted that the significant new business momentum seen in the second half of 2021 has continued in 2022 positioning it well to deliver a strong financial performance for 2022.

The acquisition of the company by Apex is now expected to complete either late in the second quarter or early in the third quarter of 2022.

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Sodexo H1 Profit Surges; Backs FY22 Margin View, Sees Organic Growth At Lower End Of Outlook Range

Sodexo S.A. (SDXAY.PK), a French food services and facilities management company, reported Friday that its first-half group net profit surged to 337 million euros from last year’s 33 million euros.

Earnings per share were 2.30 euros, up from 0.23 euro a year ago.

Underlying net profit was 339 million euros or 2.32 euros per share, compared to prior year’s 128 million euros or 0.87 euro per share.

Revenue grew 19.4 percent to 10.26 billion euros from last year’s 8.60 billion euros. Revenues increased 15.9 percent at constant currency rates.

Looking ahead for the second half of the year, the company said it is confident that the return to the workplace and Sports & Leisure events will continue to recover. However, the environment remains uncertain with intermittent local outbreaks of Covid-19, and the war in Ukraine.

Further for fiscal 2022, the company maintained expectations for underlying operating profit margin close to 5 percent, at constant rates.

The company now expects organic growth to be around the bottom of the range of 15 percent to 18 percent given in October 2021.

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