Merix ( MERX) shares jumped in late trading Thursday after the printed-circuit-board maker posted third-quarter earnings that beat expectations and offered strong guidance. The company posted income of $809,000, or 4 cents a share, up from $393,000, or 2 cents a share, a year earlier. Excluding certain items, earnings were $2.7 million, or 14 cents a share -- well above Thomson First Call's mean analyst estimate of 2 cents. Sales for the February quarter rose to $95.1 million from $50 million, beating Wall Street's target of $89.2 million. For the fiscal fourth quarter, Merix forecast earnings of 11 cents to 15 cents a share, before items, on sales of $91 million to $95 million. The outlook surpasses analysts' projection for a profit of 2 cents a share and sales of $87.8 million. Shares gained $1.94 or 17.70% to $12.90 in after-hours trading. Shares of Directed Electronics ( DEIX) surged after the vehicle security company beat Wall Street's fourth-quarter estimates. The company reported a loss of $10.3 million, or 51 cents a share, compared with earnings of $7.1 million, or 38 cents a share, a year ago. Excluding several charges, however, earnings were $11.1 million, or 55 cents a share. Sales increased to $135.5 million from $80.1 million. Analysts polled by Thomson First Call predicted earnings of 45 cents a share, before items, and sales of $114.4 million. For the first quarter, the company forecast earnings of 12 cents to 13 cents a share, with sales of $69 million to $71 million. Analysts project earnings of 14 cents a share and sales of $67 million. For the full year, Directed Electronics sees earnings of 97 cents to $1 a share, compared with analysts' target of 94 cents. Shares gained $1.45, or 9.2%, to $17.22 in after-hours trading.
Genesis Microchip ( GNSS) shares plummeted after the chipmaker said its fourth-quarter revenues will come in below its previous guidance. The company expects revenue of $60 million to $61 million for the March quarter, down from its previous forecast of $62 million to $67 million. Analysts were looking for earnings 15 cents a share and revenue of $65.3 million. The company attributed the shortfall to weaker-than-expected demand for flat-panel television controllers in Europe and for digital CRT TV controllers in China. Genesis Microchip said lower-than-expected yield on one of its newly launched TV controller products hurt gross margins, which are expected to be 43%, below its guidance of 46% to 48%. The company will release its final results on May 2. Shares sank $1.95, or 10.5%, to $16.57 in after-hours trading. Merit Medical Systems ( MMSI) slipped in after-hours trading after the maker of disposable medical products maker put first-quarter results below Wall Street's forecast. The company anticipates first-quarter earnings of 8 cents to 10 cents a share, with sales of $45 million. Analysts are looking for the company to post earnings of 14 cents a share and revenue of $44.7 million. For all of 2006, the company expects sales of $185 million to $189 million and earnings of 41 cents to 45 cents a share. Analysts had forecast earnings of 64 cents a share and revenue of $187.7 million. Shares fell $1.06, or 8.1%, to $12.10 in after-hours trading. Shares of Mohawk Industries ( MHK) stumbled after the floor-covering products company lowered its first-quarter projection. The company said it expects earnings in the range of $1.03 to $1.05 a share, down from the previous estimate of $1.17 to $1.26 a share. Analysts were expecting earnings of $1.22 a share. The company said its Mohawk segment that had higher-than-expected inventory accounting charges and lower-than-anticipated growth in sales and margins for the period. The accounting charge, related to LIFO accounting, is estimated to be $13 million to $15 million, compared with $6 million a year ago. Mohawk said sales were weak amid a soft retail replacement business, the largest channel in its carpet category. Shares dropped $5.07, or 5.9%, to $80.25 after hours.