Thursday's Early Winners & Losers
Herman Miller (MLHR) plunged some 7% in after-hours trading Wednesday on disappointing results for the quarter ended March 3. The Michigan-based interior-furnishings maker said it earned $32.3 million, or 50 cents a share, which misses Thomson Financial estimates by 2 cents despite its sharp rise from a year-ago profit of 33 cents a share. Sales were up 14.3% to $484.8 million, which was slightly under the $491.4 million average projection.
Looking ahead, Herman Miller expects next-quarter earnings to range between 47 cents and 51 cents a share -- at least a penny under the consensus. Shares were down $2.85 to $35.
RCM Technologies (RCMT) surged more than 25% on word the business-technology firm made $2.3 million, or 19 cents a share, in the fourth quarter -- a 12-cent per-share leap from last year. The analyst who follows the company was looking for 9 cents a share. The New Jersey-based small-cap was rising $1.62 to $8.
Komag (KOMG) was higher on news it intends to repurchase an unspecified number of its shares. In order to do this, the maker of hard-disk-drive components will offer $200 million in convertible subordinated bonds, along with an additional $30 million worth for initial purchasers to cover any overallotments. Shares of the San Jose, Calif., company were gaining 88 cents, or 2.7%, to $33.45.IHS (IHS), a business-software firm based in Englewood, Colo., gained after it reported per-share earnings of 32 cents for the quarter ended Feb. 28 -- a 23.1% increase from last year. Revenue rose 17.5% from last year to $152.6 million, topping the $148 million consensus estimate. In addition, the company now expects year-over-year sales growth at a percentage-point higher than before -- 11% to 13% -- meaning a top line of between $611.4 million and $622.4 million, based on 2006 figures. This is in line with Wall Street targets. Shares were trading up $1.02, or 2.6%, to $40.98.
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