Stocks in Motion: Winnebago
Updated from 11:34 a.m. EST
Shares of
Central Freight Lines
( CENF) were among the
Nasdaq's
losers Thursday, falling 25.9% after the company posted fourth-quarter results that were weaker than expected and said that it identified material weakness in its financial reporting.
The trucking company posted a loss of $8.9 million, or 49 cents a share, on sales of $85.5 million. The loss included a noncash charge of $2.9 million, or 16 cents a share. Excluding the charge, the company would have posted a loss of 33 cents a share. Analysts polled by Thomson First Call expecting a loss of 22 cents a share on sales of $92 million. A year ago the company earned $2.2 million, or 17 cents a share, on sales of $89.5 million.
In addition to posting fourth-quarter earnings, Central Freight said it would file a 15-day extension with the
Securities and Exchange Commission
so it can complete its evaluation and assessment of internal controls over financial reporting that pertains to its annual report. The company said it identified certain weaknesses in its internal controls relating to revenue and inventory and said it expects its auditors to issue an adverse opinion on the effectiveness of the company's internal controls. Shares traded down $1.76 to $5.04.
Winnebago Industries
(WGO) - Get Report
fell 6.7% after the company posted second-quarter earnings and sales that fell well below expectations. The maker of motor homes posted earnings of $14.4 million, or 42 cents a share, on sales of $239.4 million. Analysts expected earnings of 53 cents a share on sales of $279.2 million. A year ago the company earned $15.9 million, or 46 cents a share, on sales of $266 million. Winnebago said that second-quarter results were hurt by lower motor home deliveries. The company also said that it believes industry motor home production has outstripped demand. As a result, the company said it would continue to monitor its inventories on hand -- making sure that its inventory does not exceed market demand. Shares traded down $2.34 to $32.50.
Shares of
Hot Topic
( HOTT) fell 5.9% after the clothing retailer posted a 23% decline in fourth-quarter earnings on sales that were slightly below expectations. The company earned $17.4 million, or 38 cents a share, on sales of $211.3 million. Analysts expected earnings of 38 cents a share on sales of $211.8 million. For the full year, Hot Topic earned $39.7 million, or 83 cents a share, on sales of $656.5 million. Analysts expected earnings of 85 cents a share on sales of $658 million. Shares traded down $1.33 to $21.24.
After sliding more than 9% Wednesday on no news, shares of
Guitar Center
( GTRC) continued their slide Thursday after the company reaffirmed its first-quarter earnings guidance but warned that sales would come in at the low end of its previously announced range. The guitar retailer said that it expects earnings of 48 cents to 52 cents a share on sales that will fall to the low end of its guidance of $390.6 million to $399 million. The company also said that same-store sales would now range from 3% to 5%, down from previous guidance of 4% to 6%. Analysts are expecting earnings of 51 cents a share on sales of $396.8 million. Shares traded down $3.26, or 6%, to $50.84.
Shares of
Herman Miller
(MLHR) - Get Report
rose 4.6% after the furniture maker posted third-quarter earnings and sales that beat expectations. The company earned $16.8 million, or 24 cents a share, on sales of $382.4 million. Analysts expected earnings of 21 cents a share on sales of $368.2 million. A year ago the company earned $7.8 million, or 11 cents a share, on sales of $329.6 million. Looking ahead, Herman Miller forecast fourth-quarter earnings of 23 cents to 28 cents a share on sales of $380 million to $400 million. Analysts are expecting earnings of 27 cents a share on sales of $388.7 million. Shares traded up $1.33 to $30.39.
NYSE
volume leaders included
Toys R Us
( TOY), up $1.23 to $26;
Lucent
( LU), unchanged at $2.81;
Time Warner
(TWX)
, up 50 cents to $18.60;
General Motors
(GM) - Get Report
, down 66 cents to $28.35;
Viacom
(VIAB) - Get Report
, up 72 cents to $36.72; and
ExxonMobil
(XOM) - Get Report
, up $1.20 to $61.49.
Nasdaq volume leaders included
Microsoft
(MSFT) - Get Report
, down 9 cents to $24.54;
Cisco
(CSCO) - Get Report
, down 4 cents to $18.03;
Intel
(INTC) - Get Report
, down 13 cents to $23.41;
Oracle
(ORCL) - Get Report
, up 14 cents to $13.16;
Sirius Satellite Radio
(SIRI) - Get Report
, up 14 cents to $5.38;
Apple Computer
(AAPL) - Get Report
, up $1.07 to $42.25;
Sun Microsystems
(SUNW) - Get Report
, up 4 cents to $4.23;
Applied Materials
(AMAT) - Get Report
, up 14 cents to $16.17;
Retek
( RETK), up $1.13 to $11.65; and
Research In Motion
( RIMM), up $2.25 to $81.21.