Updated from 5:10 p.m. ET to include latest share prices, additional information about Dreamworks, TeleTech, and Verisk Analytics.
NEW YORK (
) -- Shares of
fell in late trades despite an above-consensus quarterly profit from the developer of flat panel display and lighting technologies.
The Ewing, N.J.-based company posted earnings of $5.7 million, or 12 cents a share, for the three months ended Dec. 31 on revenue of $18.7 million. The average estimate of analysts polled by
was for a profit of 6 cents a share in the December-ended period on revenue of $17.9 million.
Valuation may be an issue. Based on Tuesday's regular session close at $45.68, the stock has more than doubled off its 52-week low of $22.73 dating back to Aug. 8. The company also didn't provide guidance in its press release.
The stock was last quoted at $42.51, down 7%, on volume of nearly 400,000, according to
. The shares are up nearly 11% overall in the past year, reflecting a 22%-plus surge to start the year. At current levels, Universal Panel's forward price-to-earnings multiple is a lofty 55.7X.
"Strong demand for both our proprietary materials and technology sustained the momentum in our business, led to another quarter of top and bottom line growth, and lifted the company to its first ever full year profit," said Sidney Rosenblatt, the company's chief financial officer, in a statement. "Results continue to reflect increased penetration of our OLED materials and technology into the commercial display market, as well as growth in research and development efforts from a broad cross-section of manufacturers developing new applications for our OLED materials and technology."
The sell side was fairly bullish ahead of the report with 8 of the 14 analysts covering Universal Panel at strong buy (4) or buy (4), and the 12-month median price target sitting at $59, implying potential upside of 29% from current levels.
Check out TheStreet's quote page for Universal Panel for year-to-date share performance, analyst ratings, earnings estimates and much more.
It was a downer of an extended session for
on Tuesday after the company came up short in its fourth quarter, reporting both profit and revenue that was well below Wall Street's expectations. The company also lowered its revenue and cash flow outlook for fiscal 2012.
The stock was last quoted at $33.52, down 8%, on volume of nearly 1.5 million, according to
For the three months ended Dec. 31, First Solar posted a non-GAAP profit of $110 million, or $1.26 a share, on net sales of $660 million, a total that was down more than 30% on a sequential basis. The average estimate of analysts polled by
was for earnings of $1.53 a share on sales of $779.3 million.
The company attributed the sequential sales decline to "the timing of revenue recognition in our systems business and lower volume for module-only sales."
First Solar left intact a forecast for earnings of $3.75 to $3.95 a share in 2012, excluding impairment charges, but it cut its revenue view to between $3.5 billion and $3.8 billion from a prior projection of $3.7 billion to $4 billion.
The company dropped its operating cash flow forecast to $800 million to $900 million from a previous view of $900 million to $1.1 billion.
"First Solar's performance in the quarter was impacted by an aggressive competitive environment, an uncertain regulatory environment, warranty-related charges, and restructuring costs incurred to help position our business for the future," said Mike Ahearn, the company's chairman and interim CEO, in a statement.
One of the worst performers of 2011, First Solar shares are down more than 75% in the past year based on Tuesday's regular-session close at $36.40, despite a 5%-plus bounce since the start of 2012.
Check out TheStreet's quote page for First Solar for year-to-date share performance, analyst ratings, earnings estimates and much more.
Other stocks active after the bell included
, whose shares lost nearly 16% to $14.86 on volume of more than 20,000 after the maker of customer interaction technology products missed Wall Street's earnings view for its fiscal fourth quarter by 25%, posting a profit of 29 cents a share on revenue of $300.5 million vs. the average analysts' estimate for earnings of 39 cents a share on revenue of $317.2 million, and announced the acquisition of marketing analytics firm iKnowtion;
, whose stock fell 8.7% to $17.95 on volume of more than 60,000 after the movie studio operator posted a profit of 29 cents a share in its fiscal fourth quarter, coming in 3 cents shy of the consensus view; and
, whose stock gained 9% to $46 on volume of nearly 25,000 after the Jersey City, N.J.-based provider of risk-related information for insurance companies and other industries reported adjusted earnings of $85.5 million, or 50 cents a share, on revenue of $351.6 million vs. the average estimate of analysts polled by
for a profit of 44 cents a share on revenue of $340.4 million.
Written by Michael Baron in New York.
>To contact the writer of this article, click here:
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.