ABM Industries Inc. (ABM) recently reported fiscal first-quarter earnings of 27 cents per share, which is below the Zacks Consensus Estimate of 32 cents, but higher than the prior year earnings of 25 cents per share. Despite lower year-over-year revenues in three of four segments, ABM managed to post higher profits in the quarter through aggressive cost control measures.  Total revenue in the quarter declined 2.0% year-over-year to $869.9 million. The company’s sales are directly dependent on commercial real estate occupancy levels. The economic slowdown has resulted in declining commercial office building occupancy and rental rates, which in turn has resulted in lower revenue for ABM.  The company witnessed revenue declines in three of four segments. Janitorial segment’s revenue dropped 4.0%, while Parking and Security segments posted revenue declines of 2.7% and 2.3%, respectively. Quarterly revenue in the Engineering segment increased 15.7% compared to last year. The year-over-year ...

Northrop Grumman Corporation (NOC) completed the sale of its business unit TASC, Inc. for $1.65 billion in cash to an investor group led by General Atlantic LLC and affiliates of Kohlberg Kravis Roberts & Co. L.P. The business unit was part of the Information Systems segment. TASC provides information operations and security; intelligence, surveillance, and reconnaissance; and information management solutions.  Northrop Grumman’s Information Systems business segment is a leading global provider of advanced solutions for the Department of Defense, national intelligence, federal, civilian, state and local agencies, and commercial customers. Products and services from this business segment are focused on the fields of command, control, communications, computers and intelligence, missile and air defense, airborne reconnaissance, intelligence processing, decision support systems, information technology systems engineering and systems integration.  The sale of the business unit boosted the liquidity position of Northrop Grumman. The company ended the recent quarter ...

The Gymboree Corp. (GYMB) reported its fiscal third quarter results after the closing bell on Wednesday. The company posted earnings of $34.8 million, a growth of 12.6% from $30.9 million recorded in the year-ago period. Earnings per share came in at $1.15, which topped the Zacks Consensus Estimate of $1.13.   Gymboree is a specialty retailer offering apparel and accessories for children under the Gymboree, Gymboree Outlet, Janie and Jack and Crazy 8 Brands, as well as play programs under the Gymboree Play & Music brand. At the end of October 2009, the company operated a total of 951 stores across the U.S., Canada and in Puerto Rico.   The company reported a nearly 2% increase in total sales to $269.1 million during the quarter, compared to $264.1 million in the year-ago quarter. The expansion was primarily driven by the addition of 78 new stores in the last ...

Scientific Games Corporation (SGMS) announced that the company has been selected again to be the primary vendor to supply instant tickets and related services for the Massachusetts State Lottery. The contract's initial term is three years with two one-year extension options. Scientific Games expects to generate revenues of approximately $12 million per year from this contract.Scientific Games has a leading position in several markets, including the instant ticket and online lottery markets. The company continues to win significant contracts in both the instant ticket and online lottery markets from both domestic and international lottery authorities. We rate the stock a Buy.Also this year, the company signed an amendment contract which extends for four years the Tennessee Lottery Contract, which designates the company as the primary vendor to supply instant tickets and related services (including warehousing and distribution). The amendment covers the period between April ...