PortalPlayer ( PLAY) shares gained 11% after the bell Thursday on the company's announcement that it had withdrawn a planned follow-on offering of 4.5 million shares. PortalPlayer, a maker of chips for digital media players, said its current stock price "does not reflect the company's market opportunity and future growth prospects for the business." Because of the shelved offering, PortalPlayer raised its fourth-quarter earnings estimate to a range of 37 cents to 47 cents a share under generally accepted accounting principles. The company boosted its non-GAAP earnings forecast to 40 cents to 50 cents a share. The new outlook compares with a previous GAAP estimate of 34 cents to 43 cents a share and non-GAAP estimate of 37 cents to 46 cents a share. Shares were higher by $2.33 to $23.57 in after-hours trading. Kohl's ( KSS) said it earned $155.1 million, or 45 cents a share, for the third quarter ended Oct. 29, up from $134.6 million, or 39 cents a share, a year ago. The retailer's revenue rose 14% to $3.1 billion from $2.7 billion last year, while same-store sales grew 3.5%. Analysts expected earnings of 44 cents a share on sales of $3.1 billion, according to Thomson First Call. "We are pleased with our performance on the gross margin line as a result of continued focus on inventory management," said Larry Montgomery, chairman and chief executive, in a statement. The stock rose $1.44, or 3%, after hours to $50.56. Dell ( DELL) posted a profit of $606 million, or 25 cents a share, for the third quarter ended Oct. 28, down from $846 million, or 33 cents a share, a year ago. The latest results include a one-time charge of $442 million related to a faulty component and restructuring. On a non-GAAP basis, the computer maker earned $944 million, or 39 cents a share, which met analysts' forecast. Revenue for the quarter rose to $13.9 billion from $12.5 billion last year. For the fourth quarter, Dell estimates earnings of 40 cents to 42 cents a share on revenue of $14.6 billion to $15 billion. Analysts had predicted earnings of 42 cents a share, with $14.98 billion in revenue. The world's No. 1 computer maker also said it plans to repurchase $1.7 billion in stock throughout the fourth quarter. The stock was down 38 cents, or 1.3%, to $28.83 in after-hours trading.
Big 5 Sporting Goods' ( BGFV) third-quarter net income fell to $7.2 million, or 32 cents a share, from $8.5 million, or 37 cents a share, a year ago. The results included charges of about 5 cents a share related to a restatement. Revenue increased to $206.8 million from $198 million last year. According to First Call, analysts expected a profit of 37 cents a share and revenue of $211.6 million. For the fourth quarter, Big 5 expects to earn 40 cents to 44 cents a share on low- to mid-single-digit same-store sales growth. The forecast is below First Call's projection of 54 cents a share. The stock was down 94 cents, or 4.4%, to $20.45 in after-hours trading. Pacific Sunwear's ( PSUN) third-quarter earnings rose to $40.5 million, or 54 cents a share, from $33.7 million, or 44 cents a share, a year earlier. Revenue for the quarter rose 13.6% to $377.5 million from $332.4 million last year. Same-store sales increased 4.6%. The results were in line with analysts' forecasts for earnings of 54 cents a share and sales of $375.7 million. "Our 20% increase in net income reflects both an improving comp store sales trend and an increase in gross margin," said Seth Johnson, chief executive officer. For the fourth quarter, the teen-apparel retailer forecasts earnings of 62 cents to 63 cents a share, in line with Wall Street expectations. The stock was down 31 cents, or 1.1%, to $27.32 in after-hours trading. IDT ( IDT) said one of its units made a tender offer to purchase all of the remaining outstanding shares of Net2Phone ( NTOP) it doesn't already own for $2 a share. The tender offer will expire on Dec. 12. IDT already owns 40.19% of Net2Phone's outstanding shares. Shares of IDT rose 5 cents to $11.78, while Net2Phone jumped 35 cents, or 24%, to $1.83, in after-hours trading.
Design Within Reach ( DWRI) reported a preliminary third-quarter loss of $441,000, or 3 cents a share. A year earlier, the furniture retailer posted earnings of $907,000, or 6 cents a share. Analysts' forecasts called for a profit of 4 cents a share. The latest quarter's results included $670,000 in costs related to a systems conversion, and the company said results were also hurt by promotional activity and weakness in the U.S. dollar. Sales rose to $39.3 million from $30.1 million, beating analysts' estimate of $38 million. Design Within Reach slashed its 2005 earnings forecast to a range of 4 cents to 7 cents a share from its previous guidance of 40 cents to 42 cents. The company expects sales of $157 million. Wall Street targets called for full-year earnings of 38 cents a share and sales of $164 million. The company projected 2006 earnings of 11 cents to 21 cents a share and sales of $175 million to $185 million, well below analysts' estimates of 59 cents and $201 million. The company's shares plunged $2.99, or 39% to $4.73 after hours. Tarrant Apparel ( TAGS) said it earned $1.7 million, or 6 cents a share, for the third quarter, reversing a year-earlier loss of $4 million, or 14 cents a share. The retailer's revenue jumped 83% to $69.6 million from $38.1 million. "During the same period, we nearly doubled our margins and grew the Private Label business by expanding the product mix beyond casual bottoms and attracting new customers with our proven design and marketing expertise," said Barry Aved, president and CEO. Analysts expected earnings of 3 cents a share on revenue of $62.4 million. The stock rose 39 cents, or 37%, to $1.45 in after-hours trading. VNUS Medical Technologies ( VNUS) reported earnings of $1.6 million, or 11 cents a share, up from $995,000, or 9 cents a share, a year ago. Revenue for the quarter rose 20% to $12.1 million from $10.1 million last year. Analysts projected earnings of 5 cents a share and revenue of $13.2 million. For the fourth quarter, the company expects to earn 4 cents to 6 cents a share, well below Wall Street's forecast of 10 cents. The company sees revenue of $12 million to $12.4 million, below analysts' projection of $14.8 million. Shares tumbled $1.35, or 12%, to $9.85 in after-hours trading.