Friday's Early Winners & Losers: Fuel Systems Surges
Fuel Systems Solutions (FSYS) surged in after-hours trading Thursday when the Santa Ana, Calif.-based company swung to a third-quarter profit and boosted its full-year revenue guidance.
The company, which makes systems that enable internal-combustion engines to run on clean fuels, posted income of $3.4 million, or 22 cents a share, compared with a loss of $9.2 million, or 64 cents a share, a year ago. Revenue climbed 13% to $55.4 million. Two analysts polled by Thomson Financial expected the company to earn 13 cents a share on revenue of $44.2 million. Looking ahead, the company raised its full-year revenue guidance to at least $210 million, up from an earlier forecast of $200 million. Analysts were looking for revenue of $203.1 million. Shares were trading up $2.77, up from 18.2%, to $18.
California Pizza Kitchen (CPKI) tumbled after the Los Angeles-based company beat Wall Street's third-quarter expectations, but lowered its fourth-quarter guidance. The casual-dining restaurant-chain operator posted income of $6.7 million, or 34 cents a share, up from $5.5 million, or 28 cents a share. Revenue increased 14.7% to $142.8 million. Analysts were looking for earnings of 33 cents a share on $142.7 million in revenue. Comparable restaurant sales increase of 5.6%. California Pizza lowered fourth-quarter guidance to a range of 13 cents to 15 cents a share, down from an earlier guidance of 25 cents to 27 cents a share, while Wall Street is forecasting income of 28 cents a share.
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