More Early Stocks in Motion
Source Interlink (SORC) reported a profit of $1.7 million, or 4 cents a share, up from $497,000 or 2 cents a share, a year ago. Revenue for the quarter was $234.4 million. Excluding items, the company earned $6.3 million, or 12 cents a share. Analysts expected profits of 8 cents a share on sales of $222 million, according to Thomson First Call. The stock was up $1.15, or 11.45%, to $11.19 in after-hours trading.
ArvinMeritor (ARM) announced that its Light Vehicle Systems business group has been awarded a multi-year, multi-platform $162 million steel wheel contract with an unnamed North American manufacturer. The Fumagalli wheels will go into production in January 2007. Terms of the deal were not disclosed. The stock was unchanged at $14.37.
International DisplayWorks (IDWK) swung a profit of $1.5 million, or 5 cents a share, for the second quarter ended April 30, compared with a loss of $449,000, or 2 cents a share, a year ago. Revenue for the quarter was $22.7 million. Analysts expected a profit of 5 cents a share on revenue of $23 million. The company also announced it has filed a shelf registration for up to 12.5 million shares. The stock was down $1.23, or 16.78%, to $6.10 in after-hours trading.
Maxim Integrated Products (MXIM) said bookings and turns orders through the first 10 weeks of the current quarter indicate that earnings should be 37 cents a share on net revenue of $400 million for the quarter ending June 25. Analysts were expecting earnings of 37 cents a share on revenue of $404.5 million, according to Thomson First Call. The stock was down 30, or 0.75%, to $39.44 in after-hours trading.Salem Communication (SALM) increased its second quarter net broadcasting revenue forecast by $200,000 to a range of $51.1 to $51.6 million. The company said it still projects net broadcasting revenue growth in the mid to high single digits and same station net broadcasting revenue growth in the mid-single digits. The stock was up 63 cents, or 3.41%, to $19.08 in after-hours trading.
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