This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Universal Forest: After-Hours Trading

NEW YORK ( TheStreet) -- Shares of Universal Forest Products (UFPI - Get Report) dropped on light volume in Wednesday's after-hours action after the Grand Rapids, Mich.-based lumber company reported a surprise quarterly loss as sales slowed and winter storms hurt production.

The company reported a loss of $3.7 million, or 19 cents a share, on sales of $387.1 million for the three months ended in March, down from a year-ago profit of $1 million, or 5 cents a share, on sales of $393 million, and well below the average estimate of analysts polled by Thomson Reuters for earnings of a penny per share on sales of $422 million.



"We are not satisfied with our results this quarter, but we know that our business was affected by challenging external factors and we have reason for optimism for the balance of the year," said Michael Glenn, the company's CEO, in a statement. "We expect a more stable market this year and have improved performance expectations, particularly in the back half of the year."

The stock was last quoted at $29.50, down 12.2%, on volume of 5,500, according to Nasdaq.com. Based on a regular session close at $33.61, the shares were already down more than 18% in the past year.

Universal Forest added that current economic conditions prevent it from providing a "meaningful guidance" at this time, and it doesn't expect to do so in the "foreseeable future."

The company saw weakness in three segments of its business, including a year-over-year decline of 8.8% in its do-it-yourself/retail operations to sales of $150 million and a drop of 11.3% in its site-built construction operations to sales of $54 million.

Compuware

Compuware (CPWR) shares fell in late trades on Wednesday after the Detroit-based business software provider gave a below-consensus outlook for its fiscal fourth-quarter earnings, saying a pair of "significant" contracts were pushed into next year.

The provider of information technology management applications and services said it now sees earnings of 13 to 15 cents a share for the three months ended in March, short of the current average estimate of analysts polled by Thomson Reuters for a profit of 19 cents a share in the period on revenue of $258.1 million.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
CPWR $10.35 0.10%
UFPI $51.98 -0.23%
AAPL $126.75 0.27%
FB $80.01 -1.50%
GOOG $567.61 -1.30%

Markets

DOW 17,856.78 -278.94 -1.54%
S&P 500 2,071.26 -29.78 -1.42%
NASDAQ 4,927.37 -55.4390 -1.11%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs