NEW YORK (TheStreet) -- Tumi Holdings
(TUMI - Get Report) stock is plummeting in post-market trading after the company missed analysts' revenue and earnings estimates in its first quarter. After the bell, shares had tumbled 10.2% to $17.95.
Over the three months to March, the company earned 12 cents a share, a nickel lower than analysts surveyed by Thomson Reuters had expected. Revenue increased 5.5% year over year to $108.6 million. Analysts had expected $115.8 million.
For its full year, management expects net income between 88 cents and 92 cents a share. Analysts had expected 94 cents a share.
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TheStreet Ratings team rates TUMI HOLDINGS INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate TUMI HOLDINGS INC (TUMI) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and a generally disappointing performance in the stock itself."
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