Early Stocks in Motion
Paychex (PAYX) reported earnings of $115 million, or 30 cents a share, for the first quarter ended Aug. 31, compared with $87.7 million, or 23 cents a share, a year ago. Revenue for the quarter rose 17% to $403.7 million. Analysts expected a profit of 28 cents a share on revenue of $389.4 million, according to Thomson First Call. "The strong economy was reflected in higher check volume growth and positive trends in new hire reporting," said Jonathan J. Judge, president and chief executive of Paychex. The stock was up $2.13, or 6.25%, to $36.22 in after-hours trading.
Air Products (APD) said fourth-quarter earnings will be reduced by 5 cents to 7 cents a share due to Hurricanes Katrina and Rita. The company attributed its losses to property damage and business interruption in both its gases and chemicals businesses. Air Products will release its fourth-quarter earnings and fiscal 2006 earnings guidance on Oct. 26. The stock was unchanged at $55.14.
AngioDynamics (ANGO) posted a profit of $1.3 million, or 10 cents a share, for the first quarter ended Aug. 27, versus $761,000, or 6 cents a share, a year ago. The provider of innovative medical devices said revenue for the quarter increased 25% to $16.4 million from $13.1 million last year due to strong growth from the company's new products. Analysts polled by Thomson First Call expected earnings of 9 cents a share on revenue of $16.2 million. The company said it expects revenue of $72 million for fiscal 2006 vs. Wall Street's forecast of $73.4 million. The stock was down 25 cents, or 1.09%, to $22.70 in after-hours trading.
Manugistics Group (MANU) reported a loss of $6.1 million, or 7 cents a share, for the second quarter ended Aug. 31, compared with a loss of $17.1 million, or 21 cents a share, a year ago. Revenue for the quarter slipped 15% to $43.6 million from $51.3 million last year. Excluding items, the business software provider lost $200,000, or breakeven on a per-share basis. Analysts expected a loss of a penny a share on revenue of $45.5 million, according to Thomson First Call. The stock was down 9 cents, or 4.43%, to $1.94 in after-hours trading.
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