Amkor Technology Q3 Profit Climbs

BOJ Kuroda: Must maintain ultra-loose policy to support economy

FILE PHOTO: Bank of Japan Governor Haruhiko Kuroda attends a news conference in Tokyo, Japan March 16, 2020, in this photo released by Kyodo. Mandatory credit Kyodo/via REUTERS

TOKYO (Reuters) – Bank of Japan (BOJ) Governor Haruhiko Kuroda said on Tuesday the central bank must maintain ultra-loose monetary policy to support an economy that is still recovering from the COVID-19 pandemic.

“We are in close contact with the government on economic policy through various direct and indirect channels,” Kuroda told parliament.

Chemed Q3 Profit Down, But Beats View; Lifts FY Profit Outlook

Chemed Corp. (CHE) reported that its third quarter net income decreased to $56.87 million or $3.78 per share from $72.00 million or $4.55 per share in the prior year.

Adjusted net income was $4.74 compared to $5.06 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $4.65 per share for the quarter. Analysts’ estimates typically exclude special items.

Service revenues and sales for the quarter declined to $526.47 million from $538.67 million in the prior year. Analysts expected revenue of $527.05 million for the quarter.

The company now expects full-year 2022 earnings per share, excluding
non-cash expense for stock options, tax benefits from stock option exercises,
costs related to litigation, retention program for licensed healthcare employees, and other discrete items, to be in the range of $19.60 to $19.70. This compared to previous 2022 adjusted earnings per share guidance of $19.30 to $19.50. Analysts expect annual earnings of $19.49 per share.

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Harmonic Q3 Profit Up

Harmonic Inc. (HLIT) posted third quarter net income of $8.74 million or $ 0.08 per share up from $1.53 million or $0.01 per share in the prior year.

Non-GAAP net income per share was $0.13 compared to $0.09 in the year ago period.

Total net revenue for the quarter rose to $155.74 million from $126.32 million in the prior year. This was driven by a 60% rise in Broadband segment revenue and 64% Video SaaS revenue growth.

Looking ahead for the fourth quarter, the company projects earnings per share to be in the range of $0.06 – $0.11 and net revenue of $151 million – $165 million. Analysts polled by Thomson Reuters expect the company to report earnings of $0.14 per share and revenues of $161.68 million for the fourth quarter. Analysts’ estimates typically exclude special items.

Lattice Semiconductor Q3 Profit Climbs

Lattice Semiconductor Corp. (LSCC) reported that its third quarter net income climbed to $46.36 million or $0.33 per share from $26.74 million or $0.19 per share in the prior year.

Non-GAAP net income per share was $0.48 compared to $0.28 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.44 per share. Analysts’ estimates typically exclude special items.

Quarterly revenue grew to $172.51 million from $131.91 million in the previous year. Analysts expected revenue of $166.28 million for the quarter.

Looking ahead for the fourth quarter of 2022, the company expects revenue to be between $170 million and $180 million. Analysts expect revenue of $169.51 million for the fourth quarter.

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Sonoco Products Q3 Profit Increases

Packaging company Sonoco Products Co. (SON) reported that its third quarter net income attributable to the company increased to $122 million or $1.24 per share from $111 million or $1.12 per share in the prior year.

Base earnings per share $1.60 compared to $1.00 last year.

Net sales for the third quarter increased 34% year-over-year to $1.9 billion from strategic pricing performance and continued strong results from the Sonoco Metal Packaging acquisition. These increases were partially offset by lower industrial volumes and the impact of foreign currency exchange.

Looking ahead for the fourth quarter, the company projects base earnings per share to be in the range of $1.20 to $1.30.

For full year 2022, the company now expects base earnings per share to be in the range of $6.40 to $6.50, compared to the prior estimation of $6.20 to $6.30 per share.

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Daiso Recalls Tiramisu Twist Cookies

Daiso California LLC has recalled its Tiramisu Twist Cookies citing undeclared almonds and hazelnuts, known allergens, the U.S. Food and Drug Administration said.

The affected Tiramisu Twist Cookies (sku 4562138450820) are packaged in a gold bag with a large image of two cookies on the package. The 3.4oz(96g) packages were sold in Daiso stores in California, Washington, Nevada, Texas, New York, and New Jersey.

The recall was initiated after it was discovered that the Tiramisu Twist Cookies contain almonds and hazelnuts, but the packaging did not adequately disclose the presence of the nuts.

The agency noted that people who have an allergy or severe sensitivity to almonds and hazelnuts may get a serious or life-threatening allergic reaction if they consume these products.

There was one reported case of allergic reaction to the recalled product to date.

The La Mirada, California-based company has suspended the sale of the product, and has pulled the product from store shelves.

Customers who have purchased Tiramisu Twist Cookies are asked to return them to any Daiso store for a full refund.

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Amkor Technology Q3 Profit Climbs

Amkor Technology Inc. (AMKR), a provider of semiconductor packaging and test services, reported that its net income attributable to the company for the third quarter climbed to $306.08 million or $1.24 per share from $180.85 million or $0.74 per share in the prior year.

Net sales were $2.1 billion, up 24% from the prior year.

Looking ahead for the fourth quarter 2022, the company projects net income to be in the range of $150 million to $195 million or $0.60 to $0.80 per share and net sales of $1.80 billion to $1.90 billion.

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