Petco Animal Supplies
( PETC) dropped 13% after hours Tuesday after the company posted lower-than-expected third-quarter results and gave a lackluster forecast.
For the third quarter ended Oct. 29, the pet-supply retailer earned $13.2 million, or 23 cents a share, down from $21 million, or 36 cents a share, a year ago. Revenue rose 8% to $492.3 million from $455.5 million last year, while same-store sales grew 1.5%. Analysts polled by Thomson First Call expected earnings of 26 cents a share on sales of $497.2 million. The company said slower-than-planned growth in sales, particularly in higher margin supplies, hurt its profit.
For the fourth quarter, Petco anticipates earnings of 44 cents to 48 cents a share, below Wall Street's forecast of 50 cents. "While recent indicators are encouraging, the macro-economic environment remains uncertain, and we therefore are maintaining a cautious outlook for the fourth quarter," said CEO James Myers in a statement. The stock tumbled $2.97 to $20.40 in after-hours trading.
( SHRP) third-quarter loss widened to $10.5 million, or 70 cents a share, from $3.7 million, or 24 cents a share, a year ago. The latest quarter's results included a research and development tax benefit of $737,000, or 5 cents a share. The specialty retailer's revenue fell to $123.1 million from $153.6 million last year, and same-store sales plunged 18%. Analysts expected a loss of 73 cents a share on revenue of $131.4 million. "During the third quarter, we experienced year over year declines in a few key merchandise categories," said Chairman and CEO Richard Thalheimer in a statement. "Additionally, we are facing a particularly weak consumer spending environment." The stock fell 86 cents, or 8.7%, to $9.03 in after-hours trading.
rose 2.5% after the company announced better-than-expected results for the third quarter. For the quarter ended Oct. 29, the arts and crafts retailer said it earned $55.4 million, or 40 cents a share, compared with $42.5 million, or 31 cents a share, a year ago. Revenue for the quarter rose to $839.7 million from $799.9 million last year. Analysts anticipated a profit of 37 cents a share on revenue of $846.3 million, according to First Call. For the fourth quarter, Michaels Stores expects to earn 88 cents to 92 cents a share compared with analysts' forecast of 90 cents a share. The stock was up 90 cents to $36.40 in after-hours trading.
( RSTO) reported a third-quarter loss of $4.2 million, or 11 cents a share, wider than its year-earlier loss of $3.1 million, or 9 cents a share. The specialty home furnishings retailer said total revenue increased 9% to $128.4 million from $118.2 million last year. Same-store sales, however, fell 2.1%. The latest quarter's results were in line with analysts' forecast of a loss of 11 cents a share and revenue of $128.7 million. Restoration Hardware shares were unchanged after hours at $5.35.
( OPSW) narrowed its third-quarter loss to $2.8 million, or 3 cents a share, from $6.3 million, or 8 cents a share, a year ago. Excluding certain items, the company posted a loss of $1.9 million, or 2 cents a share, in line with analysts' forecast. The provider of IT-automation software said revenue increased 50% to $15.3 million from $10.2 million last year.
For the fourth quarter, Opsware expects to report a loss of a penny a share to 2 cents a share on revenue of $17 million to $18 million, compared with Wall Street's forecast for a loss of a penny a share on sales of $17.9 million. The stock fell 28 cents, or 4.7%, to $5.70 in after-hours trading.
Wind River Systems
( WIND) posted third-quarter net income of $5.7 million, or 6 cents a share, with revenue of $67.6 million. That compares with net income of $2.3 million, or 3 cents a share, on revenue on $60 million for the year-ago period. Excluding certain items, the embedded software maker earned $6.9 million, or 8 cents a share, which is a penny better than analysts' average forecast.
For the fourth quarter, Wind River sees earnings of 11 cents to 12 cents a share, and revenue of $72 million to $74 million. Analysts predict earnings of 12 cents a share and sales of about $74 million. The stock was up 25 cents, or 1.8%, to $14.40 in after-hours trading.
reported net income of $1.9 million, or 8 cents a share, for the third quarter ended Oct. 31, up from $525,000, or 2 cents a share, a year ago. Results were boosted by a one-time investment gain of $1.5 million. Revenue rose to $8.5 million from $7.7 million last year. "Looking forward, we maintain our expectation of meaningful top-line growth for our fourth fiscal quarter, as well as our next fiscal year," said Thinh Tran, chairman and chief executive, in a statement. The stock fell 15 cents, or 1.2%, to $12.65 after hours.
J&J Snack Foods
declared a 2-for-1 stock split to be distributed Jan. 5 to shareholders of record Dec. 15. The board also has declared a cash dividend of 7.5 cents, also payable Jan. 5 to shareholders of record as of Dec. 15. The dividend represents a 20% increase from the company's previous dividend of 6.25 cents, when adjusted for the split. The company's shares were unchanged after hours at $58.73