Sealy, EXFO: After-Hours Trading
EXFO shares took a hit in the extended session on Tuesday after the Canadian provider of wireless and wireline network testing services reported a year-over-year decline in quarterly sales and a sequential drop in bookings.
The company said it earned $1.04 million, or 2 cents a share, in its fiscal second quarter ended Feb. 29 on sales of $66.9 million. That performance was below its year-ago net income of $1.72 million, or 3 cents a share, on sales of $72 million. Wall Street's consensus view was for a profit of 4 cents a share in the latest quarter.EXFO said bookings totaled $60.6 million for the three-month period, up slightly from $57.6 million in the same period a year earlier, but down from $71.4 million in its fiscal first quarter. The stock was last quoted at $6.95, down 4.5%, on volume just shy of 15,000, according to Nasdaq.com. "EXFO performed well in the second quarter given typical seasonality, difficult European economic environment, near absence of year-end capital spending and some later approvals of 2012 spending budgets," said Germain Lamonde, the company's chairman, president and CEO, in a statement. "In the second half of our fiscal year, which is typically our strongest, we expect to benefit from major product launches, as well as continued market penetration with our wireless, 40G/100G and other Protocol solutions, to complete the year with at least single-digit sales growth." For its fiscal third quarter, EXFO forecast earnings of 1 to 5 cents a share on sales ranging from $68 million to $73 million. The company said the third-quarter outlook reflects costs totaling 4 cents a share related to after-tax amortization of intangible assets and stock-based compensation. --Written by Michael Baron in New York.
>To contact the writer of this article, click here: Michael Baron.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV