Winmark Corporation is an American franchisor of five retail businesses that specialize in buying and selling used goods. In 1971, his family moved to Winter Park, Florida. Since the most his father had ever made in a single year was $12,000, Morgans father was convinced there was a terrible error in his sons W-2. In 2013, Winmarks store count will top 1,000 franchised stores (none are company-owned), while retail sales of its franchisees will be more than $900 million. And they saw that they could make even more money because their cost of money was so much lower than ours. Is your share-buying a slow way to take the company private? In 1982, Morgan laid the foundation of his brokerage and retail firm called as Morgan Lewis Githens & Ahn, Inc. Most recently John sold 788,224 units of WINA stock worth $66,778,337 on 14 May 2015. In the last 17 years at Winmark Corp, John L Morgan has sold an estimated value of $125.62M worth. Morgan Foods is part of the Food & Beverage industry, and located in Indiana, United States. [14] Unlike consignment shops, Plato's Closet pays sellers on the spot. If you continue to use this website then we will assume you are ok with that. [2] Olson and Dahlberg quickly realized they preferred to be the owners of a company instead of be advisers. Was I sorry for them? He told in Orlando Magazine that one of the professional goals is to be a billionaire, and that "I think I have a shot". The estimated net worth of john l morgan is at least $239 dollars as of 14 may 2015. 0 . Morgan, a good poker player, is in the "Big One for One Drop" at the 43rd Annual World Series. John has amassed the huge sum from his profession as personal injury/class action/ injury lawyer. Additionally, there is another mitigating factor, as it appears much of this was former Chairman John L Morgan's heavily selling into Winmark's early 2020 and 2019 tender offers as he prepared for retirement: Morgan essentially maxed out his ability to sell into these tender offers at both opportunities. Stock options are the best way for them to grow their net worth. He is popularly known as the ex-husband of Sonja Morgan, a cast member . Over the last 21 years, insiders at Winmark have traded over $125,342,831 worth of Winmark stock and bought 271,031 units worth $7,726,445 Morgan's primary source of income is his law firm. The company's strategy was to move from owning stores itself to having franchisees own all the stores. Now, the city might start buying garbage trucks, Should the Minnesota DFL fear the electoral reaper? The always candid John Morgan on building Winmark, investing in Canterbury, and pulling off one of pokers all-time bluffs. [16] In 2016, the company had a $1 billion market share in the $17 billion resell industry through its 1,170 franchisees. You do things because you have a reason to. Barron's also provides information on historical stock ratings, target prices, company earnings, market valuation and more. Posted on . A fabulous deal for Canterbury. Morris sold her Play It Again Sports franchise rights to Olson and Dahlberg in 1988. The Leasing segment includes Winmark Capital Corp. and Wirth Business Credit, Inc. Winmark Capital serves large and medium-sized businesses and focuses on technology-based assets. Unfortunately, when we chart this out, it doesn't look like Winmark trades at a particularly exciting price today: Normalization of the PE ratio to the 5y average of 17 would leave investors with a 4% 5yr CAGR in share price. Long time horizon. Our reporters are only able to do their work thanks to support at all levels. There are a ton of things Ive done wrong. You could certainly argue that the resale market, like the discount retailer market, will be more durable against the threat of e-commerce. In the. It generates middle-market equipment leases primarily through business alliances, equipment vendors and directly from customers. The cost to become a franchisee in 2009 was $25,000 and five percent of the franchisee's gross revenue. EPS and Revenue estimates are for the next 12 months. Morgan earned his net worth as a descendant of the banker J.P. Morgan. And we dont give them a second store until theyve proven they can run the first. John Mack's strategy is widely heralded as having been successful. First, Winmark is an incredibly profitable business that is recession resistant and has predictable revenues. People make a mistake and pay for it all their lives. Morgan doesnt dispute this. The current estimated net worth of Winmark Corp's CHAIRMAN AND CEO, Brett D Heffes, is estimated to be about $56.02M . mash slash fanfiction Facebook equivalent ratios characteristics Twitter you are beautiful and worthy quotesbose music app compatible devices Github cooks forest luxury cabins near amsterdam Bitbucket [13] Morgan said in a 2009 interview with the Star Tribune about the state of Winmark before he joined, "The company was very good at selling franchises, but it was still losing money. With just over 100 employees, Winmarks market cap per employee is $3.5 million, a top-of-class performance in any industry. John Morgan. E-MAIL. Morgan rescued Winmark from the verge of bankruptcy by selling financially failing franchise concepts and stores and replacing the management team. As a percentage of WINA's recent stock price of $53.28, this dividend works out to approximately 0.08%. John Morgan was born in Dallas, in March 15, 1978. He is 1.66 m tall. Donations made by check can be made out to MinnPost and mailed to us at PO Box 18438, Minneapolis, MN 55418. By far. In 2016, Winmark had a $1 billion market share in the $17 billion resell industry through its 1,170 franchisees. Sven A. Wehrwein is a Minneapolis freelance writer and corporate director with experience as an investment banker and CFO. Hollis had been a Computer Renaissance franchisee. How do people change? https://livehard.substack.comPersonal Finance the Right Way Because Money MattersLooking for long term alpha. [36], Disc Go Round bought and sold new and used compact discs (CDs). We were shocked, but they had that much faith in what we were doing, says Morgan. Asset Summary. [4], Play It Again Sports purchases and sells used sports goods and is Winmark's largest chain. [24] In 2013, Winmark had over 1,000 franchised storesnone of which it ownedthat in total had sales of over $900 million. [1], Morris expressed a desire to make her idea a franchise. We met in a room at OHare. What is the net worth of John Morgan? . Chausse de Bastogne, 67 B-6840 Neufchteau. The net worth is $110 Million. This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, More Iranian Schoolgirls Sickened in Suspected Poisoning Wave, No Major Offer Expected on Childcare in UK Budget, China Gives New Backing to Coal Even as Clean Energy Accelerates, Oil Investors Get $128 Billion Handout as Doubts Grow About Fossil Fuels, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? She sold her stores to them in 1990. 0; Every day we are being offered more and more opportunities to buy goods online at remarkably low prices whether new or lightly used, and there is no doubt this will erode opportunities for resale retailers. I have a chart that, in one convenient picture, sums up my concerns with Winmark. . The publication pegs Bisciotti's net worth at $4.6 billion and Davis' net worth at $3.4 billion. The company behind Platos Closet has a long history of being profitable and making investors happy. He is also a radio host and television commentator for the sport as well. Somehow its in my DNA. He makes money from the cases that he handles. He not only earns money, but he also donates money as well. Turn a weekends worth of chores into a profitable endeavor by looking at your items with new (Read: money-hungry) eyes. They had their lawyer there. $1.99M . [3], The company was incorporated as Play It Again Sports Franchise Corporation in 1988[3] and was renamed to Grow Biz International Inc. in June 1993. In a tribute to both Buffet and the nonprofit, Morgan bought Warren Buffets wallet, with a single stock tip inside, for $210,000. John lives a lavish lifestyle and has an expensive taste in everything. When Morgan died in 1913, his net worth was $118.3 million, half in his estate and half in his art collection. As such, he doesn't need his other wildly expensive lakefront . John Morgan's legendary poker move wasn't pure luck. I have the cash. Once a stock rises, as Winmarks has, the typical pattern is for the CEO to sell a bunch of shares in the market. by: John morgan has turned winmark into a capital compounding machine with returns over 24% annualized compared to the measly 2% achieved by s&p 500 over the same period. John Morgan has painted those opposed to legalizing marijuana as racists. [33] The store also sold computer games and books and helped customers build custom computers. The divorce marked the beginning of Sonja's financial woes. He attended Broad Street High School. As a franchisor operating in a segment where the customer brings in the inventory, Winmark gets to operate with absurd profitability metrics. The company is based in Minneapolis, Minnesota. John D. Rockefeller J.P. Morgan Net Worth: J. P. Morgan was a highly successful American businessman and financier. The estimated Net Worth of John L Morgan is at least $273 Million dollars as of 14 May 2015. John L Morgan usually trades in July, with the busiest year in 2007. Tomsten looks to have been a big miss on the future of cards/pictures and digitalization, while eFrame was an odd move into technology support services for businesses. EPS has done somewhat better,. Winmark is a franchisor of resale stores that currently operates five retail concepts. As a percentage of WINA's recent stock price of $72.11, this dividend works out to approximately 0.07%. Morgan, 72, stands out in the Twin Cities business community because hes had two big breakthroughs. and bought an estimated value of $120.37M worth of shares. [37], It's About Games bought and sold used PC games, video games, and board games. [14] Used clothes are purchased at between 30% and 40% of what Plato's Closet intends to sell them at. They thought everyone was telling the truth [about the state of the business.] Winmark Corp's most recent insider trade came on November 3, 2022 by Looking at the universe of stocks we cover at Dividend Channel, on 11/7/11, Winmark Corp (NASD: WINA) will trade ex-dividend, for its quarterly dividend of $0.03, payable on 12/1/11. Blake Bolden returns to her hockey roots in newly renamed mentorship program for girls in North America. Click here to learn which [], Looking at the universe of stocks we cover at Dividend Channel, on 8/6/12, Winmark Corp (NASD: WINA) will trade ex-dividend, for its quarterly dividend of $0.04, payable on 9/4/12. That said, Winmark has few to no opportunities for meaningful growth ahead. He remains the CEO of the company, and The Richest says that he is currently worth $100 million. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. What was it like negotiating with Cooper? We really screen the franchisees. Additionally, while resale retail itself is somewhat recession resistant - people who find themselves cash strapped in a recession look to buy cheaper stuff - the off the top royalty streams Winmark collects from its franchises is a further step removed from an economic shock. [21] Style Encore immediately pays cash to people looking to sell used women's attire, footwear, handbags, and jewelry. At the very beginning, I thought I would stay with the bank. His decision to sell to TCF in 1997, as noted, made him even more money. After the latest sale, Morgan, who co-founded the contractor as Morgan Lovell in 1977, now owns just under 3.5 million shares, worth around 71m. In the downside case, if the market began to discount shares to reflect Winmark's less exciting growth prospects, you can see shares appreciating to the tune of 1.6%. [3] The company operates its business through two segments: Franchising and Leasing. His first task was to stop the bleeding. [38] Disc Go Around also had "listening stations" for customers to listen to CDs. That equals more than two-thirds American attorney and businessman, John Morgan has a whopping net worth of $730 million. I think Canterbury has a huge margin of safety. By contrast, Winthrop Resources had a portfolio of approximately $348 million in 1997 at the time of the TCF deal. If the only thing you know about sports is who wins and who loses, you are missing the highest stakes action of all. By Alex Galbraith. [24], Plato's Closet purchases and sells used brand name children's and teenagers' brand name clothes, shoes, and paraphernalia. The firm has done a good job representing its clients, whether private or corporate, and as a result, it is well-liked. Today, Morgan owns a little more than 34 percent of Winmark, worth about $125 million. [25] The first Once Upon a Child store was opened in 1985 in Perrysburg, Ohio, by Dennis and Lynn Blum in 1985 after they observed Goodwill Industries accepting and selling used baby attire. He kept Play It Again Sports, Platos Closet, Once Upon A Child, and Music Go Round, and most recently added Style Encore. What was the important thing that IBM taught you? [14], In 2011, Winmark was ranked the 11th company on Forbes's "The Top 20 Small Public Companies In America". Long only. First, it was, What do they do? Then as I got more sophisticated, it was How they do really make money? To break things down in that fashion is the key to good investing. Style Encore buys, sells women's apparel", "Used-Computer Chain Opens Clovis Outlet. Raised on the north side of Omaha, Morgan came from a blue-collar family. As of 2023, John Morgan's corporation is estimated to have a net worth of $1 billion. Maintaining a near perfect renewal rate and opening net new stores sets Winmark into motion as a recurring revenue machine, as franchise agreements are 10 year pacts. Chief Executive Officer. Morgan, Jack's grandfather and founder of Morgan Packing, passed away on December 21, 1948, at the age of 90. "[4] Around 2002, Winmark sold the franchises Retool, Computer Renaissance and Disc-Go-Round. If you have an ad-blocker enabled you may be blocked from proceeding. The website hosted 6,000 pages related to business such as how to found a company and how to sell a company. [17], In February 2016, President Brett Heffes was chosen as Winmark's next CEO, succeeding John Morgan, who became the executive chairman. JP Morgan heir of the blood Towery Maurice Burris-Hunt was introduced to JP Morgan board members & stockholders in November of 2013 by CEO Jamie Dimon. [2] In July 1994, Winmark spent $2.3 million to purchase CDX Audio, which used the name CD Exchange in Green Bay, Wisconsin. [9] Winmark Business Solutions was intended to help franchisees and clients of Wirth Business Credit. Asked if he had a favorite quote, Morgan cited a line from DickensA Tale of Two Cities: It is a far, far better thing that I do, than I have ever done; it is a far, far better rest that I go to than I have ever known. Morgan explains: Most of us are a bag of good news and bad news. We want to build a good business at a reasonable rate for everyone: the shareholders, the management and the employees, and the franchisees. It had a forum for people to discuss small business issues and its articles also discussed finance, insurance, and technology topics with a focus on business. [9], In March 2000, John Morgan took over as CEO from Jeff Dahlberg. I had looked at that stock over and over again, and said it was undervalued [at the time of the deal. One of them was to make a lot of money and be successful. I wrote this article myself, and it expresses my own opinions. The estimated Net Worth of John L Morgan is at least $326 Million dollars as of 14 May 2015. I went alone. [7] By a year after joining the company as CEO, Morgan rescued Winmark from the precipice of bankruptcy by introducing stringent review of franchisee finances, shuttering failing Play It Again Sports stores, and appointing his own people to executive and board positions. After attending the University of Nebraska at Omaha, he started at IBM in Des Moines, selling for the office products division. Aside from its operations as a franchisor, Winmark has a few smaller revenue streams. There is a "treasure hunt" like aspect to shopping at a discount or resale retailer, and many buyers describe it as something of an "experience" in addition to simply going out and tracking down a good. On average, John trades about 7,487 units every 27 days since 2001. You dont do things just because you can. [4] In 2011, it had 240 locations in the United States and 24 in Canada. In November 2012 John was appointed chief executive of the Group.<br><br>Morgan Sindall Group plc is a leading UK . 2023 Forbes Media LLC. When he joined in early 2000, the market capitalization of Grow Biz, which went public in August 1993, was $30.9 million. Quickly, Morgan sold one, Computer Renaissance, a seller of used computers, and dissolved another, Retool, a group of stores selling used tools. Morgan met his wife, Ultima Degnan, while studying law. What's more, the e-commerce world isn't overlooking the resale market. When you think about your business legacy, what do you want folks to remember? Probably not, The long, bitter fight over Minneapolis Roof Depot site, explained, ReConnect Rondo leader: No, a land bridge over I-94 wouldnt be too expensive to build, Time to celebrate our Minnesota public schools, What's one of Minnesota's biggest sources of revenue? Morgan Sindall specialises in office design, property investment and refurbishment. Consensus Price Target is the stock price analysts expect to see within a period of 0-18 months. First, Mystic Lake Casino is a partner. MinnPost's in-depth, independent news is free for all to access no paywall or subscriptions. In 2010, the housewife filed for Chapter 11 bankruptcy citing $13.5 million in assets and $19.8 million in debts. A lot of people start off shopping our stores after theyve sold goods to us. That's all about John Bryan Morgan's height, age, weight and biography. It made money for Winmark until 1998. [22], Despite Winmark's specializing in used goods, its stores sell new goods too. Exploring alternative assets. With strong fundamentals and an undervalued stock price, this firm not only finds itself in Octobers Most Attractive Stocks Model Portfolio, but is also this weeks Long Idea. As of 14 May 2015 John still owns at least 878,154 units of Winmark stock. Winmark has been aggressively shoring up its base, maintaining a 98% or higher franchise renewal rate for the last three years while also growing total stores in the ~2% range over that time. The company operates its business through two segments: Franchising and Leasing. Through Winmark Capital Corporation, the company offers an equipment leasing business to middle market businesses. You joined the TCF board and became its largest shareholder. Im a Warren Buffet man on this issue. $66.78M on May 15, 2015. The most recent stock trade was executed by Brett D Heffes on 1 November 2022, trading 10,400 units of WINA stock currently worth $979,992. (Morgan brought 20-year-old financial statements to the interview to prove it.) It wasnt going to be groupthink. John Morgan WINA stock SEC Form 4 insiders trading Bill Cooper [the CEO of TCF] came to us. Click here to see the details of John Morgan's 232 cashes. Last updated: 17 January 2020 at 2:41pm EST. He is best known as founder of personal injury law firm Morgan & Morgan. The is an important distinction, as, and as such was somewhat protected from the ups. biogen senior engineer ii salary. [18] According to a 2014 article in The Toronto Star, Morgan holds the most shares in the company.[19]. Last, whose incomes necessitate resale buying as a primary means are typically less excited about paying shipping costs (although this is becoming less and less of an issue in the e-commerce world). With John Morgan, Lovell co-founded Morgan Sindall, a quoted London property company, in 1977. Typical Size Of Households. If it uses more than $24 million for the advertisements, then it is more than that. I dont have a lot of regrets. [27][31] The store's name was inspired by a Blum son's schoolwork about Plato who had been an early advocate of recycling, which paralleled the aim to recycle used clothes. Morgan rescued Winmark from the verge of bankruptcy by selling financially failing franchise concepts and stores and replacing the management team. Additionally, within this market, most buyers like to actually examine the item they are planning to buy, as secondhand items run the risk of more significant wear and tear than can be appreciated online. Post author: Post published: December 1, 2021 Post category: endless weekend bath and body works Post comments: coursera financial aid time limit coursera financial aid time limit They even made money in their first year: $390,000 in 1982. The company's focus is typically class action as well as personal injury. When I sit down with Republicans, they dont trust because Im a Democrat. [25] In 2010, the complete cost to start a Play It Again Sports was $300,000 and the average yearly sales were between $650,000 and $725,000. . Its business is not capital intensive and essentially involves licensing out a brand and then enjoying the royalties for the duration of the contract. john morgan winmark net worth. Seriously, Winmark is an absolute profitability machine. Ronald G Olson, [27][31] In 2011, there were over 280 franchisees in the United States and Canada. [28] Winmark purchased the company in 1992. Robinson Worldwide's Stock Stays on the Move, Should Continue to Grow", "Men make 'sound' investment selling used CDs", "Computer Renaissance gives new life to used computers", "Series of mistakes led chain to have abysmal Christmas", "Company Launches Store That Sells Used Tools", "Tool recycle franchise a boon for the handy", https://en.wikipedia.org/w/index.php?title=Winmark&oldid=1133958310, Play It Again Sports Franchise Corporation, This page was last edited on 16 January 2023, at 08:41. Take a look at Winmark's revenue and earnings performance during the Great Recession: For what it's worth, Winmark's earnings and share price both took a beating during that time due to large non-cash write offs in business investments in Tomsten and eFrame. a franchisor, Winmark is the owner of a brand along with a set of standards and an operating system by which franchisees are to conduct a retail business. by: In addition, it also has a leasing business, which connects electronic equipment companies 2000: Morgan, ec, director, ten percent owner at winmark (wina), has a 95.6% success rate when buying and selling stocks. I got tossed into the business world, and the measure is money. John Morgan has been working as a President & Chief Executive Officer at Morgan Foods for 19 years. Why is one good at chess? In January 2013, Winmark announced that it would start a new franchise, Style Encore, that would focus on used women's clothing. They needed me. suffered a cerebral hemorrhage and died three weeks later on February 26. It came to a head 42 years ago. Families that will buy used goods. However, limited future growth opportunities and overvaluation of shares today leave prospective shareholders with both inadequate opportunity for share price appreciation and a limited margin of safety. The company additionally operates in the value oriented niche of resale, further making it recession resistant and partially offsetting the ever present threat of e-commerce. Given Winmark's attractive features, it is worth keeping on the watch list in the event market sentiment compresses its margins, however, this one does not look particularly attractive for a buy today. norwegian cruise line dining menus john morgan winmark net worth. About John Adams Morgan. However, when you consider Winmark's somewhat limited future growth and stellar past stock performance, you have to question if Winmark's insider team is selling while they know the getting is good. There are those who could claim to be richer. No products in the cart. The largest trade John's ever made was selling 788,224 units of Winmark stock on 14 May 2015 worth over $66,778,337. Were happy to make this story available to republish for free under an, learn about all our free newsletter options, New upscale outlet mall attracts 19 more tenants. Youve turned that model upside down and have bought more than 1 million shares in the open market in the last 13 years. John L Morgan, Executive Chairman, Executives from three national chains Pet Supplies Plus, The Spice & Tea Exchange and Winmark share practical tips on how they pull shoppers into their stores. [2] Martha Morris was an initial customer of Olson and Dahlberg's consulting company. The franchisees. If Winmark can continue to coax revenue forward at a mid-single-digit rate, I expect that this formula will continue to work into the future. Winmark WINA Minneapolis, Minnesota $279.34 -1.75 (-0.62%) Share Price as of February 3 4:00:00 PM EST About Winmark Winmark Corp. franchises retail brands that buy, sell, trade and consign. John Morgan's Orlando law firm gave the Republican Party of Florida $135,000 since Morgan left the Democratic Party in 2017 to become an independent - but unlike in the past, the firm did not . When the world is chaotic, people intrinsically turn to each other, and by showing your humanity, your brand can stand out as a beacon of hope. John Mack Leads Morgan Stanley To Huge Gains March 21, 2007: Morgan Stanley posted a year over year net revenue gain of 29%. The current estimated net worth of Winmark Corp's Timothy Brian Bares is estimated to be about $237.1M . At a recent price of about $73 per share, the market cap of Winmark today is just under $370 million, a 12-fold increase since Morgan took over. Im looking for people who overcame adversity. During the late 1990s, Sonja Morgan met John Adams Morgan while working as a hostess. A . Until the early 1970s, Morgan sold either private-label foods or packed food under its own label. and downs of the industry. John L Morgan's largest purchase order was 788,224 units , worth over Click here to learn which [], Looking at the universe of stocks we cover at Dividend Channel, on 2/4/13, Winmark Corp (NASD: WINA) will trade ex-dividend, for its quarterly dividend of $0.04, payable on 3/1/13. John L Morgan owns about 907,186 units of Winmark Corp common. It was going to be my way or the highway. If you find a good idea, pile in. The company's strategy was to move from owning stores itself to having franchisees own all the stores. John has made over 79 trades of the Winmark stock since 2003, according to the Form 4 filled with the SEC. John L Morgan's largest purchase order was, Winmark Corp's most recent insider trade came on November 3, 2022 by Moreover, he's been winning in business and investing for decades. [29][30] Winmark purchased Plato's Closet from Dennis and Lynn Blum, the founders of Once Upon a Child, in 1998. I am not receiving compensation for it (other than from Seeking Alpha). All Rights Reserved. I ask them about their family. Im personally a transformation project. With carbon-free law in place, Minnesota Democrats now debating whether to mandate energy storage, An illustrated guide to the signs of Minnesota spring, State funds available to recruit diverse police officers, but not all departments are asking for the money, Addressing (and improving) life expectancies for Black Minnesotans, For years, St. Paul took a hands-off approach to trash collection. [7], Music Go Round purchases, sells, and exchanges used musical instruments and paraphernalia. I listened to them, but then told them how it would be. In 2000, John Morgan replaced Dahlberg as CEO and renamed the company to Winmark in 2001. What is actually behind this business? The most active traders at the company are John L Morgan, . They were married in May 1982. People who go to garage sales and are looking for really good bargains. Im not a very good player, he says, but I have no fear. He plays in tournaments almost every week, and most famously was in a World Series of Poker event in July 2012. He co-founded Morgan Lovell in 1977 which then reversed into William Sindall plc in 1994 to form Morgan Sindall Group plc. They really polished me. He talks in a way you can understand. police officer relieved of duty. From 1974 to 1982, he attended the University of Florida (1974-1978) and the University of Florida Fredric G. Levin School of Law (1978-1982), where he attained his Juris Doctor. Im not looking for a perfect childhood. What's more, I don't think the results will be particularly impressive from where we sit today. His income for 1965 was $19,900. Says Morgan, The single best business decision of my career was to take all stock. CALL. Giants such as Etsy (ETSY) or eBay (EBAY) and pure plays such as thredUp are aggressively growing in this space. Early on, a group of them called me down to Chicago. Analysts are expecting the company to book a profit of $1.22 a share, up from $1.11 a year ago.Analysts are projecting earnings of $2.79 per share for the fiscal year.