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fell sharply in extended action after the Canadian maker of interactive whiteboard technology products said its quarterly profit was held back by spending on research and development and infrastructure.
The company posted a non-GAAP profit of $800,000, or a penny per share, for the fiscal fourth quarter ended March 31 on revenue of $167.3 million, down significantly from year-ago equivalent earnings of $5.7 million, or 3 cents a share, on revenue of $155.6 million.
SMART Tech also projected full-year revenue to come in between flat and down 5% from a total of $790.1 million for the year ended March 31. Adjusted earnings are anticipated to be "consistent" with its $85.5 million total for this past year.
The stock was down 13.1% at $8.45 on volume of 200,000 in late trades.
shares rose in late trades after the Phoenix-based pet supplies retailer
topped Wall Street's consensus profit view
for its latest quarter by nearly 11%, and lifted its full-year outlook.
The company reported a profit of $70.9 million, or 61 cents a share, for the three months ended May 1 on sales of $1.49 billion, up from year-ago equivalent earnings of $55.6 million, or 46 cents a share, on sales of $1.39 billion, and ahead of the average estimate of analysts polled by
for a profit of 55 cents a share.
The stock was last quoted at $44.90, up 5.7%, on volume of around 210,000, according to
. Based on a regular session close at $42.49, the shares were up more than 30% in the past year, including a gain of more than 7% so far in 2011.
Written by Michael Baron in New York.
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