Pop-culture apparel retailer
soared 8% after the closing bell rang Wednesday on rising profits that met Wall Street expectations for the quarter ended Oct. 28.
The City of Industry, Calif.-based company posted earnings of $7.1 million, or 16 cents a share, compared with $5.9 million, or 13 cents a share, a year ago. Revenue rose 2% to $196.7 million, which just slid by estimates of $196.4 million from analysts polled by Thomson First Call. Looking ahead, Hot Topic expects to open 35 new stores and remodel about twice as many in fiscal 2007. Shares were trading up 89 cents to $12.00.
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gained after posting impressive results for the quarter ended Sept. 29 and for full-year 2006.
The Beaverton, Ore.-based electronic-display developer posted GAAP income of $1.2 million, or 9 cents a share, on revenue of $53.3 million. That compares with a loss of $32.1 million, or $2.18 a share, on revenue of $54.5 million a year ago. Non-GAAP income rose to 14 cents a share on revenue of $53.4 million, sprinting past two analysts' estimates of 9 cents a share for income and $48.7 million in revenue.
Total fiscal 2006 GAAP income swung to a profit of $6.3 million, or 43 cents a share, on revenue of $212.7 million, compared with a loss of $34.9 million, or $2.37 a share, on revenue of $231.8 million a year ago. Non-GAAP income for the year also moved past analysts' expectations, jumping to 63 cents a share on revenue of $212.8 million from 21 cents a share in 2005. Analysts had projected earnings of 44 cents a share and revenue of $207.6 million in 2006. Shares were up 50 cents, or 4.2%, to $12.50.