Skip to main content

G-III Apparel Group

(GIII)

surged after the close Wednesday on mounting third-quarter profits that easily beat Wall Street estimates. The New York-based company, which makes sportswear and accessories, earned $23.3 million, or $1.59 a share, in the quarter ended Oct. 31.

This compares with $14.8 million, or $1.15 a share, a year ago. The two analysts who follow the company were looking for $1.37 a share, according to Thomson Financial. Sales went up 31.1% to $244.7 million, also beating estimates by about $6 million.

Citing these solid numbers, as well as "strong outerwear reorders and the impact of new, non-seasonal businesses," the company hoisted its full-year outlook. It now expects fiscal 2007 earnings to range between 90 cents and 95 cents a share, up from its previous forecast of 63 cents to 67 cents a share. Analysts are calling for 66 cents a share. Full-year revenue expectations were adjusted to about $430 million, a figure that tops G-III's previous estimate by $20 million. Shares were up $2.85, or 15.5%, to $21.30.

Delia's

undefined

earnings towered over estimates in the quarter ended Oct. 28, and shares ballooned in kind. The New York-based direct marketing outfit posted a nearly doubled profit of $3.3 million, or 11 cents a share, on revenue of $67.5 million, compared with $1.7 million, or 6 cents a share, a year ago. The revenue represents a 12% increase over the year-ago period. Analysts were looking for 7 cents a share on revenue of $68.2 million. Shares were up $1.00, or 9.4%, to $11.59.

San Diego-based

Maxwell Technologies

(MXWL)

jumped after the company, which makes energy storage and power delivery systems, announced that 3 million of its Boostcap D-cell ultracapacitors had been ordered by a "leading European producer of wind energy systems."

Alan Riedo, senior vice president and general manager of the company's Swiss subsidiary, says this order -- to be filled over two years -- is for twice the amount of its previous largest D-cell order. The European entity will use the product in its wind-turbine-blade pitch systems. Shares were up 56 cents, or 3.8%, to $15.16.

Liquidity Services

(LQDT)

lost nearly all of its anticipatory Wednesday gains, despite solid results for the quarter and year ended Sept. 30, on disappointing guidance.

Scroll to Continue

TheStreet Recommends

The Washington, D.C.-based online auctioneer topped earnings estimates for the fourth fiscal quarter, and for full-year 2006, by a penny-a-share each. Fourth-quarter income totaled $2.2 million, or 8 cents a share, on revenue of $39.8 million, compared with $1.6 million, or 7 cents a share, a year ago. Full-year earnings were at $8 million, or 31 cents a share, on revenue of $147.8 million, compared with $4.1 million, or 18 cents a share, a year ago. Quarter and full-year revenue climbed 64% and 65%, respectively, from year-ago periods.

But the company also said it expects to earn only 8 cents a share in the next quarter, and 40 cents to 42 cents a share in fiscal 2007. Analysts are looking for fiscal first-quarter profits of 9 cents a share, and full-year 2007 profits of 43 cents a share. Shares were down $1.74, or 8.7%, to $18.20.

Biopharmaceutical

Insmed

(INSM)

continued its Wednesday plummet after a jury in the U.S. District Court for the Northern District of California found that it had infringed on patents licensed by

Tercica

( TRCA) from

Genentech

( DNA), and upheld the validity of another Genentech patent that the court had already determined was infringed by Insmed, in the company's process for making a component of its Iplex product.

Insmed must pay Tercica $7.5 million in damages and royalties, as well as 15% royalties for damages on past Iplex sales totaling up to $100 million and 20% royalties on anything greater than that amount. Tercica had issued these patents in connection with its Increlex product in 2002. Insmed shares were down 11 cents, or 8.4%, to $1.20. Tercica shares rose 39 cents, or 6.6%, to $6.29.

Parlux Fragrances

( PARL) slid after selling the Perry Ellis fragrance brand back to

Perry Ellis International

(PERY)

for $63 million in cash. The deal includes the license for the Perry Ellis fragrance brand, as well as inventory, molds and other related assets. Shares were down 46 cents, or 6.8%, to $6.30.