Post-Market NASDAQ Movers (KTCC, MXIM, RSTI, SIMO, EBIX, QUIK, OPEN, THOR, WMGI, DMND)
The top after-market NASDAQ Stock Market gainers are: Key Tronic, Maxim Integrated Products, Rofin-Sinar Technologies, Silicon Motion Technology, and Ebix. The top after-market NASDAQ Stock Market losers are: QuickLogic, OpenTable, Thoratec, Wright Medical Group, and Diamond Foods.
Gainers
Key Tronic Corp. (KTCC) stock jumped 13.41 percent to $4.65 in the after-market trading. Profit for the first quarter was $1.2 million or $0.12 per share, down from $1.7 million or $0.17 per share last year. Revenue grew 10 percent to $69.8 million. Looking ahead into the second quarter, the company expects earnings of $0.15 to $0.20 per share and revenue of $75 million to $80 million.
Maxim Integrated Products Inc. (MXIM) stock climbed 12.63 percent to $28.80 in the after-market trading.
Rofin-Sinar Technologies Inc. (RSTI) stock grew 8.24 percent to $26 in the after-market trading.
Silicon Motion Technology Corp. (SIMO) stock gained 6.85 percent to $16.85 in the after-market trading. Adjusted profit for the third quarter was $13.64 million or $0.40 per American Depository Share (ADS), up from $32.24 million or $0.16 per ADS last year. Sales grew to $63.22 million from $34.20 million. Analysts had expected profit of $0.23 per ADS on revenue of $50.29 million. Looking ahead into the fourth quarter, the company expects revenue to be flat to down 10 percent sequentially and adjusted gross margin of 47 percent to 49 percent. For the full year 2011, the company now expects revenue growth of 61 percent to 66 percent over last year and adjusted gross margin of 47 percent to 48 percent.
Ebix Inc. (EBIX) stock increased 6.57 percent to $16.55 in the after-market trading. The company said the put option for 1.49 million Ebix shares expired on October 31 without being exercised. The put option was issued to the owners of E-Z Data in October 2009 in connection of the acquisition of E-Z Data and if exercised would have enabled the put owners to sell the 1.49 million shares of Ebix common stock back to the Ebix at a price of $15.11 per share.
Losers
QuickLogic Corp. (QUIK) stock plunged 18.06 percent to $2.45 in the after-market trading. Adjusted loss for the third quarter was $1.03 million or $0.03 per share, compared to a profit of $917,000 or $0.02 per share last year. Revenue fell to $5.34 million from $7.33 million. Analysts has expected a loss of $0.03 per share on revenue of $5.59 million.
OpenTable, Inc. (OPEN) stock plummeted 14.90 percent to $36.68 in the after-market trading. Adjusted profit for the third quarter was $7.4 million or $0.30 per share, up from $5.7 million or $0.23 per share last year. Revenue grew 40 percent to $34.4 million. Analysts had expected profit of $0.30 per share on revenue of $35.86 million.
Thoratec Corp. (THOR) stock slumped 13.30 percent to $30.25 in the after-market trading. Adjusted earnings from continuing operations for the third quarter were $25.11 million or $0.41 per share, up from $20.81 million or $0.32 per share last year. Revenue rose 13 percent to $102.58 million. Analysts had expected profit of $0.34 per share on revenue of $103.67 million.
Looking ahead into the fiscal 2011, the company raised its adjusted earnings guidance to range of $1.48 to $1.52 per share from previous forecast of $1.40 to $1.50 per share. However, the company lowered its 2011 revenue outlook to range of $418 million to $423 million from the previous range of $422 million to $430 million. Street analysts expect profit of $1.49 per share on revenue of $428.43 million.
Wright Medical Group Inc. (WMGI) stock fell 12.60 percent to $14.50 in the after-market trading. Adjusted profit for the third quarter was $7.7 million or $0.20 per share, up from $7.3 million or $0.19 per share last year. Sales declined 3 percent to $118.2 million. Analysts had expected profit of $0.16 per share on revenue of $125.81 million. Looking ahead into the full year 2011, the company lowered its adjusted earnings guidance to range of $0.80 to $0.84 per share from previous forecast of $0.89 to $0.97 per share. The company also reduced its 2011 revenue outlook to range of $505 million to $509 million from previous range of $517 million to $535 million. Street analysts predict profit of $0.76 per share on revenue of $533.97 million for the fiscal 2011.
Diamond Foods, Inc. (DMND) stock tumbled 11.10 percent to $57 in the after-market trading. The company said its previously announced acquisition of the Pringles snack business from Procter & Gamble Co. (PG) is now expected to close in the first half of calendar 2012. Diamond and Procter & Gamble had previously expected the closing to occur in December of 2011.
Diamond and Procter & Gamble have revised the expected closing date of the acquisition following the receipt by the Chairman of the Audit Committee of Diamond's board of directors of an external communication regarding Diamond's accounting for certain crop payments to walnut growers. In response to the communication, Diamond's Audit Committee decided to perform an investigation of this matter. Management is fully committed to supporting the Audit Committee in this process. Closing of the Pringles transaction remains subject to customary closing conditions and completion of an exchange offer by Procter & Gamble. Antitrust approvals required for the transaction have already been obtained.
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